Early-stage funding hits record high as mega-deals drop off
2023 Outlook
Compared to six percent in 2022, sixteen percent of the 225 founders questioned in 2023 are not confident in their ability to raise funds in their next funding round.
Approximately 61% of respondents intend to raise cash during the next 12 months, a significant decrease of 25% from the previous year.
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"It has been demonstrated that Australia possesses globally competitive product and technical talent. Stew Glynn, co-founder and partner of TEN13, stated that market cycles do not imply that great talent suddenly vanishes or that major, global challenges no longer persist.
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When markets are difficult (as they are currently), the best talent emerges to solve challenges, and more creativity arises when there are additional limits.
Australia's largest electrical system "on life support" as states assume charge of energy transition
According to Tony Wood of the Grattan Institute, governments have "given up" on the market. The state's electrical system will be partially renationalized, the Victorian government declared Wednesday. Mr. Wood claimed that the action was in line with moves made by other states and the federal government to discredit independent energy producers. Perhaps this is the least-worst course of action, he continued. An energy expert claims that the announcement comes after 15 years of "chaos" at the federal level. Victoria's decision has been referred to as a "retrograde step" by AEC CEO Sarah McNamara.
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As global equities slump on recession fears, ASX rises
ASX futures were up 24 points, or 0.4%, to 6,694. The Australian dollar was down at 63.01 US cents. On a choppy day, the MSCI global index of stocks fell. (Close): The MSCI All-World index was last trading down 2.3% and was looking to post losses for a fourth straight day. The STOXX 600 index for all of Europe was down 0.4% after hitting one-week lows on Friday.
