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Australia startups turn to Silicon Valley as local investors shun risk

Investment for any promising Aussie innovation has been scarce

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The venture capital industry Down Under is still recovering from the global financial crisis, with investment activity about half of 2009 levels, OECD data shows.

Sydney

FOR the cost of a Sydney home, Paul Evans would be able to market an electric-car engine that could help put Aussie innovation back on the map. In risk-averse Australia, most investors would prefer to buy a house.

The entrepreneur has been shunned by local venture capital

sentifi.com

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