BDO Leading the Pack for Innovators and Entrepreneurs

Our friend Marc Loftus and his team from BDO’s Perth office have been celebrating recently after securing the first ruling from the ATO under the new Innovation Tax Incentive legislation. The ruling was obtained under the principles based test for Epic Delivery who are also listed here on Techboard. This article was first published by BDO.

 

The world today abounds with rapidly expanding opportunities for innovation, turbo charged by developments in the digital space. Businesses, governments and individuals alike are turning their attention to the significant benefits that technology and innovation are creating.

New markets and products, accompanied by a better understanding of consumers, in addition to the ever increasing number of channels available to connect with end users, makes for exciting times as an innovator or entrepreneur.

BDO is committed to supporting our home grown innovation community and stakeholders by utilising our skills, knowledge and expertise in this sector to assist members of the highly collegiate and motivated start-up scene in WA. Thereby jointly contributing to the bigger picture in raising the profile of Australia on the global stage, as a centre for investment in innovation and technology.

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Australian Accelerators: who offers the best value?

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Techboard’s Chief Data Nerd Rafael Kimberley-Bowen takes a look at the comparative valuations of Australian seed accelerators.

An accelerator is a cohort-based program which offers mentorship and education to startups to help set them up for solid growth once they complete the program. More specifically, a seed accelerator takes a small share of a startup’s equity in exchange for a modest capital injection and an educational program with access to mentors.

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Invest in Australian Startups – Investor Registration is LIVE!!

At Techboard we have been actively exploring how we can support Australian Startup companies in raising money and enable investors to discover, research and invest in Australian startups.

Techboard was already a platform which enabled companies to promote themselves generally to an audience which included investors. So we decided it was not that big a step to take to enable the same companies to promote their capital raisings and make Techboard a true investment discovery platform.  

The promotion and publicity of capital raisings by unlisted private companies is tightly regulated in Australia by the Corporations Law and we are not able to distribute information on private capital raisings publicly on the Techboard Platform. The law requires that we only make such information available to users that have first subscribed to receive such information and who have also been exposed to investor notices.

So the first step in enabling us to help companies promote their capital raisings and to facilitate investment in Australian Startups is to get investors to register on the Techboard platform. We are pleased to announce that we have activated Investor Registration. Investors can now sign up to receive notifications of  opportunities to invest in Australian Startups and Tech Companies.

The recent introduction of the Innovation Tax Incentive provides tax benefits to both Sophisticated and Retail Investors and we are keen to enable all interest investors to find investment opportunities that fit their preferences and risk profile. We anticipate that many opportunities which will be promoted on Techboard will only be available to sophisticated or s708 Investors, we are however exploring options to enable retail investors to invest in startups (whether direct or indirect) so they can access the Innovation Tax Incentive in way suitable to their needs. We will therefore be accepting registrations from any interested investors.

We are continuing to make changes to the Techboard platform over the coming months to enable companies to promote their capital raising and will keep companies, readers and registered investors apprised of all developments.

 

The Techboard Team

Register as an investor NOW!!

 

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Techboard Partners with TechInvest Magazine

Techboard is pleased to announce that in line with our increased emphasis on investment and repositioning of Techboard as an investment discovery platform we have partnered with TechInvest Magazine a new quarterly technology magazine produced by leading Public Relations Firm PPR.

Techinvest Magazine will become Australasia’s most widely circulated technology publication for investors – with approximately 70,000 copies being inserted into the Australian Financial Review (AFR) nationally.  The magazine will also be distributed directly to more than 1000 leading institutional fund managers, brokers, analysts, retail investors and key technology/ business media in Australia.

This partnership will greatly increase the exposure of Companies that are active on Techboard and those performing well in our Startup Ranking. TechInvest will provide exposure of the Techboard Startup Ranking including by publishing an extract from our quarterly and annual rankings. Techboard’s announcements and Investment Discovery Platform will also be profiled to a national audience. Techboard also has online publishing rights for the TechInvest Magazine and any stories featuring companies on Techboard will be connected to those companies’ Techboard profiles.

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Investing in Australian Startups and Technology Companies – An Introduction

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This is the first in a series of pieces on investing in Australian Startups and Technology companies or Early Stage Innovation Companies under the new Innovation Tax Incentive legislation. At Techboard we have been actively exploring how we can support WA companies in raising money and enable investors to discover, research and invest in Australian companies. We thought it might be useful for us to share some of our thoughts and learnings through a number of pieces which might shed some light on what can be a complex area.  Consistent with Techboard being a conduit between companies and company watchers we will be looking at the issue from both the perspective of companies seeking investors and prospective investors looking for their next investment.  

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Techboard and BDO – Investing in WA’s Future – Investor event 3 August 2016

Screen Shot 2016-07-07 at 10.52.02 PMTogether in One Place – Innovators, Investors and Business Insight

Are you:

  • Interested in finding out more about investing in Australian Start-ups and Technology Companies?
  • Looking to learn more about the new Tax incentives for investment in early stage Innovative Companies? (These are accessible by both sophisticated AND retail investors).
  • Interested in managing the risks of investing in early stage innovation companies?

Then join BDO and Techboard along with special guests Vocus Upstart (a tech accelerator program for Perth start-ups) as we explore investing in Australian start-ups and technology companies and discuss the new Tax Incentives for innovation.

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Will the Innovation Tax Incentive increase investment?

I was at an Egroup meeting earlier this month and Marc Loftus from BDO was presenting on the new Innovation Tax Incentive. For information on the Innovation Tax Incentive see my earlier post here. A question came from the floor on the subject of what impact the Innovation tax incentive was likely to have on levels of investment.  The UK has a similar Innovation tax incentive called the Enterprise Investment Scheme (EIS). The EIS was highly influential on the new Australian Tax Incentive legislation. I was in Scotland from 2006 to 2009 working in the startup and innovation space. I had a fair bit to do with Scottish Angel investors who I knew were using the EIS.  I also remembered reading reports on the impact of the EIS on the levels of investment.  So I thought I would dig those up and share them.

The UK government introduced  EIS in 1992 with the purpose helping types of small higher risk unlisted companies to raise capital. So there is a fair bit of data available to gauge the impact of that scheme.

 

What do the UK studies reveal?

The earliest report I have found was produced by NESTA in May 2009. That report entitled “Siding with the Angels Business angel investing – promising outcomes and effective strategies” found that:

“Eighty per cent of investors surveyed have made use of the Enterprise Investment Scheme, at least once. And 57 per cent of their investments had made use of the EIS.”

and

“Investors said that 24 per cent of their investments would not have been made without tax incentives.

In January 2015 the Enterprise Research Centre released a study called “A Nation of Angels: Assessing the impact of angel investing across the UK”. In their report it was stated:

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Senate Passes Innovation Tax Incentive Legislation – 4 May 2016

Earlier today the Senate passed the Tax Laws Amendment (Tax Incentives for Innovation) Bill 2016. This Legislation which is expected to be in force on 1 July 2016 provides generous tax incentives for investment in eligible new innovative companies. Techboard Panel of Experts member and BDO partner Marc Loftus has prepared a summary of the bill that can be downloaded below.

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Download NOW

Signup to Techboard to stay informed.

Over the coming weeks Techboard will be bringing you updates about this important legislation and its application for both Companies and Investors and other developments relating to Investing in Australian Startup and Technology Companies.  Signup to Techboard to stay informed.

 

Techboard Team

4 May 2016

Innovation Tax Incentives Bill Analysis

On 16 March I published a post on the new Innovation Tax Incentives Bill and Screen Shot 2016-04-08 at 10.13.05 AMpromised to come back with more analysis. Our friends at BDO have done such an analysis and have concluded that while the legislation provides further incentive for investment in innovative start-ups, some of the eligibility requirements are overly restrictive and time consuming for start-ups to comply with.

Suffice it to say that the Bill is pretty complex, in terms of figuring out if a startup is an eligible company, with a points based formula, the possibility of rulings and with further rules able to be set by regulation. The investor eligibility rules are pretty complicated as well.

What is clear is both retail and sophisticated investors can benefit from the tax breaks on offer… but not equally… and investors investing too close to home (including founders) are not eligible.

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