ENTREPRENEURSHIP – AUSTRALIA

Start-ups may avoid all capital gains tax

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Original article by Fleur Anderson
The Australian Financial Review – Page: 1 & 6 : 5-Oct-15

The Parliamentary Budget Office estimates that a proposal to abolish capital gains tax for investing in business start-ups would cost the budget about $A30m annually by 2018-19. A Federal Government taskforce is considering the proposal, which was put forward by backbencher David Coleman and had the support of former treasurer Joe Hockey. The tax break would apply to investments in companies that have been in business for less than two years and whose annual revenue is less than $A1m.

CORPORATES
AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NINEMSN PTY LTD, PUBLISHING AND BROADCASTING LIMITED, STARTUPAUS, KPMG AUSTRALIA PTY LTD

Innovators want states to do more

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Original article by Yolanda Redrup
The Australian Financial Review – Page: 22 : 11-Aug-15

Technology entrepreneurs have voted Sydney the start-up capital of Australia. It remained on top because of its proximity to funding and availability of services, IoT Group CEO Simon Kantor said. Innovate NSW offers support, including matched funding of up to $A15,000 to help small to medium enterprises demonstrate an idea, prove a concept or develop a prototype.

CORPORATES
CITY OF SYDNEY, CITY OF MELBOURNE, IOTECH, SHARESIGHT PTY LTD, NEW SOUTH WALES. DEPT OF INDUSTRY AND INVESTMENT, AEERIS LIMITED – ASX AER, DROPBOX INCORPORATED

Patrick Grove, 40, cracks the Rich List with $286m

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Original article by John Stensholt
The Australian Financial Review – Page: 1 & 9 : 26-May-15

The 2015 edition of the "BRW" Rich List includes 12 new technology entrepreneurs, including iFlix founder Patrick Grove. The company offers streaming video services for mobile phone users in Asia, which Grove notes is a market of up to 250 million people. Grove has previously listed a number of companies on the Australian sharemarket, including iProperty and iCar Asia, and he says an iFlix IPO is possible in the future.

CORPORATES
IFLIX LIMITED, IPROPERTY GROUP LIMITED – ASX IPP, ICAR ASIA LIMITED – ASX ICQ, IBUY GROUP LIMITED, REV ASIA BERHAD, NETFLIX INCORPORATED, HULU LLC, CATCHA GROUP, PHILIPPINE LONG DISTANCE TELEPHONE COMPANY, FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, STAN, REA GROUP LIMITED – ASX REA, ANDERSEN

Lessons in coping with failure

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Original article by Beverley Head
The Age – Page: 26 : 16-Dec-14

Australian universities are introducing courses in entrepreneurship. The University of Melbourne’s Wade Institute for Entrepreneurship was established in November 2013. The institute offers a course in Entrepreneurship for those who already have a degree. Queensland University of Technology, the University of Adelaide, Swinburne University of Technology and the University of Technology, Sydney, offer similar programs

CORPORATES
SWINBURNE UNIVERSITY OF TECHNOLOGY, UNIVERSITY OF MELBOURNE, QUEENSLAND UNIVERSITY OF TECHNOLOGY, UNIVERSITY OF TECHNOLOGY, SYDNEY, UNIVERSITY OF ADELAIDE, ERNST AND YOUNG, TRAVELBAG PLC, OXFORD UNIVERSITY, McKINSEY AND COMPANY, BHP BILLITON LIMITED – ASX BHP, TELSTRA CORPORATION LIMITED – ASX TLS, NANOTECHNOLOGY VICTORIA LIMITED, STANFORD UNIVERSITY, MASSACHUSETTS INSTITUTE OF TECHNOLOGY, APPLE INCORPORATED

Ahh, to be young … and rich

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Original article by John Stensholt, Michael Bailey
The Australian Financial Review – Page: 10 & 11 : 31-Oct-14

Members of "BRW" magazine’s 2014 Young Rich List have a combined wealth of $A8.3bn. The list is headed by Mike Cannon-Brookes and Scott Farquhar of software group Atlassian, who are collectively worth $A2.1bn. They are followed by Campaign Monitor’s Dave Greiner and Ben Richardson, who are worth a combined $A500m. Carman’s Fine Foods’ Carolyn Creswell is the highest-ranked woman on the list, with personal wealth of $A83m

CORPORATES
ATLASSIAN SOFTWARE SYSTEMS PTY LTD, CAMPAIGN MONITOR PTY LTD, CARMAN’S FINE FOODS PTY LTD, T ROWE PRICE GROUP INCORPORATED, DRAGONEER INVESTMENT GROUP LLC, INSIGHT VENTURE PARTNERS, WOOLWORTHS LIMITED – ASX WOW, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES, TESCO PLC, J SAINSBURY PLC, VANTAGE, YAHOO! INCORPORATED, AUSTRALIAN CAREERS NETWORK LIMITED – ASX ACO, REWARDLE HOLDINGS LIMITED – ASX RXH, BPM CONSTRUCTION AND DEVELOPMENT GROUP

PM to cut tax burden on employee share schemes

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Original article by David Crowe
The Australian – Page: 1 & 2 : 16-Sep-14

The Australian Government will soon release its new policy on employee share schemes. The purpose of the changes is to make business start-ups more attractive to prospective employees. The new incentives scheme will be modelled on the Enterprise Management Incentive program in Great Britain, which limits the total number of share options issued by a company to Stg3 million and individual parcels to Stg250,000 per employee

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSBIOTECH LIMITED, POCKETBOOK AUSTRALIA PTY LTD, LINK MARKET SERVICES LIMITED, GOOGLE INCORPORATED, ATLASSIAN SOFTWARE SYSTEMS PTY LTD, SEVEN NETWORK LIMITED, INVESTEC AUSTRALIA LIMITED, EMPLOYEE OWNERSHIP AUSTRALIA LIMITED, AUSTRALIAN LABOR PARTY, SEVEN WEST MEDIA LIMITED – ASX SWM

Online star back from the brink

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Original article by Damon Kitney
The Australian – Page: 19/22 : 27-Jun-14

Australian entrepreneur Patrick Grove does not like his wealth to be examined by the media. In 2013, he appeared on the "Young Rich List" of "BRW" with a wealth of $A95 million. Grove says he is motivated by the desire to build new businesses rather than to make money. His Catcha Group now controls online assets worth more than $US300 million ($A318.8 milion), including stakes in three Australian-listed companies – iCar, iProperty and iBuy

CORPORATES
CATCHA GROUP, CATCHA MEDIA BERHAD, ICAR ASIA LIMITED – ASX ICQ, IPROPERTY GROUP LIMITED – ASX IPP, IBUY GROUP LIMITED – ASX IBY, THORNEY INVESTMENT GROUP AUSTRALIA PTY LTD, FRONTIER DIGITAL VENTURES, NASDAQ, ANDERSEN, ASX LIMITED – ASX ASX