Corporate disclosures and limits on employee equity are placing Australia’s software unicorns at a disadvantage against US rivals as they move into the crucial market, according to two of their co-founders, while “nightmare” regulatory hurdles are limiting local venture capital.
The warnings come from employee survey breakout Culture Amp, which cracked the US market by riding the San Francisco tech wave, and fellow Melbourne unicorn Linktree, which signed up top US music talent to its link sharing platform to get an American foothold.
At the SXSW Sydney festival this week, the cofounders laid out the issues to InnovationAus.com and called for several of the rules to be scrapped altogether to spur more software startups.
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