Australia is missing its chance to become a tech leader with the current investment landscape not designed to back businesses aiming to deliver the so-called smart economy, while start-ups are losing out on government cash to bigger companies. That’s the assessment of some of the nation’s top venture capital funds and tech entrepreneurs. Microsoft, Amazon and Google are investing billions of dollars in a practical quantum system – an elusive technology that promises to revolutionise the world – and Petra Andren believes Australia can also play a key role. Telstra has exited the venture capital business at fire sale prices as chief executive Vicki Brady races to cut $350m in costs by the end of the year. |