Square Peg Capital: National Innovation and Science Agenda

I cofounded Seek in November 1997 with my brother
Andrew and Matt Rockman and left the business in 2011. In early 2012 I co-founded Square
Peg Capital and we invest in early stage and growth stage technology companies. Both in
Australia and overseas. The two most important elements for any successful start-up is talent
and capital. And firstly you need a large number of highly motivated, energised and
passionate people with highly relevant skills to get that business up and running, and growing
and scaling. But also you need the capital to grow it. And so in order to have a successful
start-up ecosystem we need both the skillsets and the people who want to work in early stage
businesses but we also need the capital to invest in those businesses. And by providing
tax incentives to angel investors that’s hopefully going to increase their preparedness
and willingness to invest in what is often high risk and speculative investments. They
provide a great source of jobs, a great source of innovation. Help the economy grow. The
successful start-ups are going to employ lots of people, they’re going to pay tax over
time they’re going to contribute enormously to the wealth of our country. Also the goods
and services provided by those start-ups are a benefit to their customers. Whether those
customers are consumers or whether those customers are businesses or government. And therefore
both in terms of direct benefits provided by start-ups in terms of employment and wealth
creation and also the indirect benefits they provide to their end customers, its enormously
important to the growth of our economy.

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