Startups Starved of Cash
Australia produces the most unicorns, such as Canva, in the world per $1 billion invested.
Photographer: Brent Lewin/BloombergGood morning and welcome back, it’s Ainsley here with all the news you need to start your working week.
Today’s must-reads:
• Australian startups starved of cash
• Commodity export outlook cut
• RBA urged to ditch new inflation goal
Australian startups lag far behind the US and China in funding raised despite the country’s historical effectiveness at creating unicorns. Its relatively small domestic market and distance from the venture capital hubs of Silicon Valley and Beijing remain challenges, but the local startup community is pointing to global success stories such as Canva and Atlassian as signs of its potential.