Australia: Australian startup funding drops in 1st half of 2023
  • 2023-11-22
  • Entrepreneurship Research Center on G20 Economies
  • Edit
  • KPMG recently released data that shows a significant decrease in Australian startup funding during the first half of 2023. However, investment in climate tech and AI startups has remained strong. According to KPMG’s Q2 Venture Pulse Report, investment fell to US$1.1 billion, compared to US$3.64 billion in the same period last year. Despite the overall decline, there are still funding opportunities for AI and cleantech businesses.

    KMPG’s report indicates that investment in AI and cleantech companies has remained strong. The growing interest in AI can be attributed to the success of OpenAI’s ChatGPT and the adoption of AI technology by major tech companies such as Google, Microsoft, and AWS. This has also translated into increased funding for Australian AI startups like Fivecast and Eyetelligence.

  • Partners

  • Global Health Innovation Center (GHIC)
  • World Intelligent Incubation Network (WIIN)
  • National University of Singapore
  • Canada-China Institute For Business & Development
  • TusPark Research Institute for Innovation
  • Cross-strait Tsinghua Research Institute
  • Tsinghua X-Lab

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