Welcome to AVCAL's policy update for June. You can read all about some of our recent policy and advocacy work above.
At the recent AVCAL Council meeting an exciting new three-year strategy was endorsed to guide our areas of focus across the organisation and the advisory committees we have in place. The new strategy represents the culmination of an extensive feedback process over the last 12 months, which involved all members right across the spectrum. We are very thankful to LEK Consulting for the assistance they have provided us as we’ve developed the new strategy. You can read more about the new strategy on the AVCAL website, just follow the link in the section above.
In the last month we’ve been spending time working through the consultation processes relating to the new programmes that were announced in the recent Federal Budget. The Government is proposing to introduce a new Medical Research Future Fund and an Entrepreneurs’ Infrastructure Programme as part of the changes announced on 13 May as part of the Budget. The Medical Research Future Fund has the potential to bring huge benefits to the biotech and life sciences sectors within our economy, but there is work that still needs to be done around its design and operation over coming months.
It’s unclear at the moment how these programmes will support an overarching Government’s innovation policy framework. But we are encouraging the Government to ensure that the new investment and competitiveness agenda they are currently working on delivers a strong long-term blue print for innovation in Australia.
Membership renewals due by 30 June 2014.
On behalf of the AVCAL team and your Council, I wanted to thank our members for their support of the work we have done over the last 12 months. Your ongoing membership of AVCAL is critically important to us being able to build on our strategic and operational focus on policy and advocacy, investor engagement and connected community. By continuing to be a member of AVCAL, you will ensure your organisation plays a role in helping to build a stronger private equity and venture capital industry in Australia into the future. Key contacts for our member organisations would have already received a note to renew. If you're not currently a member of AVCAL, there are many benefits of joining, so please consider it.
PE & VC return 22% in 2013.
Last month we released the latest AVCAL/Cambridge Associates PE and VC Benchmark Index which confirmed that private equity and venture capital funds in Australia posted returns of 22% in the 12 months to 31 December 2013, outperforming the ASX 300 Index by over 200 basis points. These are very strong results, and it’s great to see the trend of ongoing positive returns continue for the last six consecutive quarters now. Read the media release.
‘Building better businesses’ campaign to feature at the 2014 alpha conference®
Our new strategy is underpinned by the tagline 'building better businesses', which I’m sure you will have already seen rolled out as part of our new-look 2014 AVCAL alpha conference® materials. The new campaign will incorporate a number of key elements over the next two years, and to kick things off at this year’s conference we plan to launch a series of video presentations and story boards, and incorporate the building better businesses theme into our awards presentations. Stay tuned for more on this front soon.
As always, if you have suggestions about how AVCAL can do more to continue supporting a strong and vibrant Australian private equity and venture capital industry, please get in touch with us.