Oracle sets up support net for entrepreneurs Down Under

The Australian subsidiary of giant software developer Oracle has set up a Down Under arm of the Oracle Venture Network, which aims to create a support community for technology entrepreneurs. The network offers private access to investor organisations as well as online business plan reviews through a range of Oracle tools.

A spokesman said Australian participants will have access to a range of localised content and services provided by experts in fields such as investment, e-business, management, human resources, legal services, public relations and IT.

Brian Mitchell, managing director of Oracle Australia, adopted a rather agricultural approach to the idea. "It's been a rough market for emerging technology companies," he noted. "We have seen the field literally bloom and then die off, and now we feel that this fallow land is primed for tilling and seeding the next great companies for future growth.

"By introducing Oracle Venture Network we're providing emerging technology entrepreneurs with access to resources they need in order to sprout and grow."

He added that the entrepreneurs needed the network because in today's business environment it is not enough to have a bright idea and sound innovation. "Other factors crucial to success for early-stage companies include the quality of the management team, the ability to raise venture capital, and sound corporate governance." Mitchell claimed the Oracle venture will give innovators access to appropriate business partners, technology and resources.

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