The Australian Government recently released its Industry and Innovation Statement. Part of the Statement contains the response to the 2012 Review of Venture Capital and Entrepreneurial Skills in Australia, a process that KCA participated in. One of the major initiatives of the Statement is Venture Australia, a new initiative to help grow new innovative Australian businesses with high growth potential and to promote Australia as a location for investment in innovation. Venture Australia has been heavily influenced by the 2012 Review of Venture Capital and Entrepreneur Skills and by the Board of Taxation’s Review of Taxation Arrangements under the Venture Capital Limited Partnership Regime, which was undertaken in 2011.
You may also be interested in further details of Venture Australia, and these can be found here.