State government backs Startup Victoria with $100k

Victoria's technology minister has officially launched the not-for-profit organisation

The Victorian government has backed Startup Victoria to the tune of $100,000. The state's technology minister, Gordon Rich-Phillips, yesterday officially launched the nonprofit organisation whose mission is to aid fledgling startups in Victoria.

"[H]igh technology startups have particular needs that distinguish them from many other businesses while also having capacity to make a major contribution to the economic and cultural life of our society," the minister said in a statement.

"New technology companies have to deal with a wide range of issues, including sourcing venture capital, managing fast growth, risk/return ratios, decision-making, corporate and industry culture, product development, distribution and marketing.

"Startup Victoria will work with startup clusters across the state to bring together the people, networks and resources needed to help technology entrepreneurs handle these issues and position their ventures for sustainable growth."

Startup Victoria has more than 120 volunteers and three initial investors, according to Rich-Phillips.

The organisation will offer paid and free membership options. 'Premium' membership for individuals costs $99 a year, while businesses can sign up for $5000 a year, which entitles them to offer discount services and products targeted at Startup Victoria members.

The founders of the nonprofit are the organisers of the monthly Lean Startup Melbourne events.

Startup Victoria's board of directors includes Leni Mayo, Michelle Bourke, Scott Handsaker and Brendan Lewis.

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Perhaps the startups would benefit more from Land Tax being indexed by CPI from its 2009 levels? The state government is benefiting from a massive cash flow into its coffers from simply refusing to index the Land Tax threshold, by CPI, let alone the current inflated real estate values. Any increase in these values can only be realised by disposing of the real estate.
Interestingly the state revenue office indicates landlords who previously were not subject to Land Tax have no right to pass on the new ownership expense to tenants.
See -Who is responsible for paying land tax under the Retail Leases Act 2003?

The best way to ensure the financials of any startup business is to own the property involved. There is no exemption for freehold business, only for primary residence and primary production.

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