Little Group Chairman Paul Little has launched a mentorship group for startup companies called Skalata "to take people with great ideas and help them commercialise." It's typically an area that's fraught with danger and we think we could have real value there," he said. Seed-funding in Australia has gone down by two-thirds in a year.
"There was a lot of interest in startups two years ago... it is a danger from an investment point of view... not earning income, does not have the reputation and is a concept more than anything, " Mr Little said. Paul Little led a management buyout of Toll holdings and grew it from an 18 truck operation to a transport and logistics enterprise worth more than $4 billion.
Westpac Great job Paul. So many smart people out there with great ideas that are unable to get funding. The government R&D tax rebate is a nightmare and barely worth the paperwork for the smaller companies.
Westpac
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Source: SkyNewsAust - 🏆 7. / 78 Read more »