QUESTIONS ON NOTICE › Innovation, Industry, Science and Research (Question No. 701)
Senator Boyce asked the Minister for Innovation, Industry, Science and Research, upon notice, on 22 June 2011: In regard to venture capital funding and start-ups: (1) How much public funding has been used to assist or subsidise the growth of early stage venture capital funds in Australia over the past five years. (2) Of those start-up companies that venture capital funds were able to successfully grow and exit: (a) how many were there; and (b) how many are still headquartered in Australia. (3) What was the proportion in which the exit was through sale to a foreign venture capitalist or private equity firm, or the start-up was required to relocate its headquarters offshore. (4) What has been the immediate return on taxpayers' funds to Australia.