Techboard has been monitoring the growth of the Startup and Tech Ecosystem in Australia since 2017. We track all sorts of funding events, including venture capital and other private investment, public investment via the ASX, venture debt, equity crowdfunding and more. We have been tracking the growth of the ecosystem. Unfortunately in the era of COVID 19 it looks like we might soon have to track its temporary leveling or even decline.
Over the 10 quarters from 2017 until the end of 2019 we have tracked the significant rise of funding levels, from average quarterly funding of under $870m in FY2017 to over $1.8b per quarter (to end 2019). This has seen Australian startup and tech companies grow and employ more and more people as well as seeing new companies emerge. For detailed analysis and breakdowns please see our funding reports, which are free to access.
2020 is still young but we are now living in a different era. COVID19 is changing the way we live and work and is having a significant impact upon the economy in general. It is also sure to have a marked impact on startups and tech companies and their funding.
Techboard hasn't yet compiled and analysed our data for the March Quarter 2020 so can’t yet report if funding levels have started to decline but it is anticipated by many that startup and tech funding will dry up like it did during the GFC and Dot.com crisis. We are actually starting to hear that the impact is already being felt with term sheets pulled or renegotiated and some companies struggling to raise capital. But we are also hearing positive stories of companies still successfully raising.
We will be continuing to track funding for startup and tech and will be able to report on the impact of Covid19 which industries/categories are faring better than others as well as identify trends by funding type and by size.
Our primary focus is to collect details of successful raise/funding, we capture most of our data from news stories and other public disclosures but also welcome direct reports from companies, investors and advisors (non-confidential disclosures only please). Reports can be made via the link below.
We are also keen to hear about capital raises that have failed/floundered since COVID. To report a failed raise please email us. We will not share details unless you specifically authorise us to do so.
We are very pleased that our data is being used by government agencies around the country and also to inform policy recommendations from groups such as StartupAus, StartupWA and the newly formed Australian Innovation Collective which is lobbying the Australian Government on its COVID19 response. So please help us to get the best data to help the ecosystem.
We are currently working on our figures for the March Q 2020 which we will have out shortly.
Keep your chin up and stay well.
Peter van Bruchem
CEO and Co-founder
