Australian VC punching above its weight

A report released today by the Australian Private Equity & Venture Capital Association (AVCAL) shows that the Australian venture capital (VC) is pivotal to innovation in Australia, and VC-backed firms spend much more on research and development than their industry peers. The report highlights research that shows that VC-backed companies spend on average 200 times more on R&D per employee than other businesses, and that while VC-backed firms make -up only 0.01 per cent of GDP, they account for approximately 10 per cent of business R&D expenditure in Australia. It is clear from the report that the VC industry is vital for true innovation in Australia.

View the media release here

View the full report here