[feint]

This article is absolutely spot on.

I often get asked why I chose to incorporate in the U.S and take investor money from U.S based investors and not from Australians. This is article explains why.

There is a lot of talk in Australia but very little action - a lot of people calling themselves Angels, VC's, incubators etc. without actually funding any companies, or any decent companies.

[toast76]

You need money in the system to fund quality startups. But you need quality startups to get money in the first place.

The problem is that we lack a lot in both areas. Chicken/Egg.

[feint]

Agreed - but I know of many quality startups that have moved to the U.S from Australia (including mine). I think the bigger problem is lack of quality Angel investors, VC's and incubators. The largest angel network in Australia still has a ridiculous and immoral pay-to-pitch flow. They simply just don't get it. And the VC situation is even worse.