Australian Tech Company Gets 28 Million USD from Silicon Valley Giant

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Australian companies get more interest from Silicon Valley giants. Tech companies that have developed strategies and support from the Australian government may hit a few million-dollar investments from Silicon Valley billionaires. The same scenario happened with Newcastle based tech start-up that’s related to improving workspace management in offices. 

Australian company got the score from Silicon Valley giant up to 28 million US dollars. Company founder and CEO, Adam Boyle, said that its first international investment for an Australian tech company. At the same time, Adam believes that 28 million would be entirely used for dominating the international market and business landscape. Journalist asked him about the Australian business framework and how the country helps little start-up to build up for success. Adam Boyle said that his company was not a little start-up, and the government has improved in every possible way. CEO of Pegasus believes that many international companies understand that Australia is the most attractive country in terms of law and business space. 

What’s so attractive to the Australian business space?

Australia has the most liberal approach to tech industries. Even the iGaming space became very popular, and it’s due to the help from Australian governments’ decisions. All the bills that are passed in Australia tend to help digital business space. Pegasus CEO said that the legal framework helped the company to work in comfortable networking ecosystem. At the same time, Australia is fond of tech companies that can help the country’s economy.

iGaming was the main success story for the Australian government

Tech experts believe that along with the iGaming platform, newly created start-ups in the tech industry can help the country’s economy to grow by 3-5% every year in the next decade. As you may know, iGaming is a massive industry in Australia. Australian gaming platforms’ popularity reached the historical maximum in 2018 when those companies have contributed more than 10 billion Australian dollars to the economy.

New bill related to digital gaming has helped gaming start-up companies to raise their popularity around the world. Tech movement has grown so much, and interest became so real that we have seen the rise of casinos, pokies, slots, betting, and cards. Aussie Pokies are trendy and most of the gaming platforms already have a digital adaptation of real online pokies Australia. Along with other games, pokies and casino games have dominated the digital business space. 

Experts believe that if they focus on start-ups that are not related to gaming, the economy will get more contribution. The Australian government wants to focus more on start-ups and have diverse platforms that contribute to current industry. 

Switching focus from iGaming to technology start-up. 

The Australian government wants to switch focus from the iGaming industry to fin-tech start-ups. “Pegasus” is the first success story of Australia’s new approach. Country authorities believe that an easy entry barrier in the tech industry and a solid legal framework for companies to go public in Australia helps a lot to build a sustainable and wealthy sector. Experts believe that the country should give a better taxation system for newly created companies that tend to be start-ups. Silicon Valley funds are ready to invest more money internationally, and Australia should use this chance.

Live example from Pegasus

CEO of the company, Boyle, said that the Australian approach to going public is excellent. Country law makes it easy to go public and get extra funds for the development of the company. At the same time, going public helps companies to get more exposure and interest from angel investors. Boyle said that the central pillar of their success was the friendly business space. If they had issues while developing the digital product, success wouldn’t be guaranteed. CEO said that Silicon Valley investors are interested in funding not only Pegasus but other Australian start-ups too. 

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

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