Emergence of Accelerators and Accelerator Policy: The Case of Australia

Martin Bliemel, S de Klerk, Richardo Flores, Morgan P. Miles

Research output: Book chapter/Published conference paperChapter (peer-reviewed)

Abstract

This study has explored the emergence of accelerators and related policy in the context of the Australian innovation system. Accelerators first appeared in 2010 with little formal coordination between them, followed by the development of accelerator policy in 2015 and its implementation in 2016. In comparison, the VC industry and VC policy in Australia started off with a neglected government report (i.e., the 1983 Espie Report), followed by the emergence of AVCAL in 1992 and the first formal VC fund in 1994, culminating in the introduction of VC policy 15 years after the report (1998). The evolution of the VC industry also suffered setbacks due to unfortunate timing with the burst of the dot-com bubble and GFC. Meanwhile, accelerators appeared in Australia largely independent of policy efforts, with only a few being capitalized via early stage VC policy programs. The federal and state governments were comparatively quick to learn about accelerators and design policy for accelerators while also reconsidering changes to complementary policies. Simultaneously, the total number of accelerators has been growing rapidly and accelerator business models are evolving at an incredible pace and hybridizing with incubation, co-working, VC, mentoring, higher education, professional services and other organizational types.
Original languageEnglish
Title of host publicationAccelerators
Subtitle of host publicationSuccessful Venture Creation and Growth
EditorsMike Wright, Israel Drori
Place of PublicationUnited Kingdom
PublisherEdward Elgar Publishing
Chapter9
Pages162-187
Number of pages26
ISBN (Electronic)9781786434098
ISBN (Print)9781786434081
DOIs
Publication statusPublished - May 2018

Publication series

NameAccelerators
PublisherEdward Elgar Publishing

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Cite this

Bliemel, M., de Klerk, S., Flores, R., & Miles, M. P. (2018). Emergence of Accelerators and Accelerator Policy: The Case of Australia. In M. Wright, & I. Drori (Eds.), Accelerators: Successful Venture Creation and Growth (pp. 162-187). (Accelerators). United Kingdom: Edward Elgar Publishing. https://doi.org/10.4337/9781786434098.00013
Bliemel, Martin ; de Klerk, S ; Flores, Richardo ; Miles, Morgan P. / Emergence of Accelerators and Accelerator Policy : The Case of Australia. Accelerators: Successful Venture Creation and Growth. editor / Mike Wright ; Israel Drori. United Kingdom : Edward Elgar Publishing, 2018. pp. 162-187 (Accelerators).
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Bliemel, M, de Klerk, S, Flores, R & Miles, MP 2018, Emergence of Accelerators and Accelerator Policy: The Case of Australia. in M Wright & I Drori (eds), Accelerators: Successful Venture Creation and Growth. Accelerators, Edward Elgar Publishing, United Kingdom, pp. 162-187. https://doi.org/10.4337/9781786434098.00013

Emergence of Accelerators and Accelerator Policy : The Case of Australia. / Bliemel, Martin; de Klerk, S; Flores, Richardo; Miles, Morgan P.

Accelerators: Successful Venture Creation and Growth. ed. / Mike Wright; Israel Drori. United Kingdom : Edward Elgar Publishing, 2018. p. 162-187 (Accelerators).

Research output: Book chapter/Published conference paperChapter (peer-reviewed)

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AB - This study has explored the emergence of accelerators and related policy in the context of the Australian innovation system. Accelerators first appeared in 2010 with little formal coordination between them, followed by the development of accelerator policy in 2015 and its implementation in 2016. In comparison, the VC industry and VC policy in Australia started off with a neglected government report (i.e., the 1983 Espie Report), followed by the emergence of AVCAL in 1992 and the first formal VC fund in 1994, culminating in the introduction of VC policy 15 years after the report (1998). The evolution of the VC industry also suffered setbacks due to unfortunate timing with the burst of the dot-com bubble and GFC. Meanwhile, accelerators appeared in Australia largely independent of policy efforts, with only a few being capitalized via early stage VC policy programs. The federal and state governments were comparatively quick to learn about accelerators and design policy for accelerators while also reconsidering changes to complementary policies. Simultaneously, the total number of accelerators has been growing rapidly and accelerator business models are evolving at an incredible pace and hybridizing with incubation, co-working, VC, mentoring, higher education, professional services and other organizational types.

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Bliemel M, de Klerk S, Flores R, Miles MP. Emergence of Accelerators and Accelerator Policy: The Case of Australia. In Wright M, Drori I, editors, Accelerators: Successful Venture Creation and Growth. United Kingdom: Edward Elgar Publishing. 2018. p. 162-187. (Accelerators). https://doi.org/10.4337/9781786434098.00013