CANBERRA: Jobs in information technology account for one quarter of job
vacancies in venture capital (VC) backed businesses according to new
research by the Australian Investment Council.
The research was conducted to determine where jobs are being created by
VC-backed businesses across various industries, locations and job types and
how these jobs are contributing to the transition of Australia into a
highly-skilled, knowledge-based economy.
Published in the Council’s inaugural Future Jobs Barometer, the
analysis shows 1478 job vacancies in the portfolio companies of eight of
Australia’s most active VC firms, which represent approximately one-third
of the domestic VC ecosystem.
Information Technology dominates job vacancies with 300 positions available
(20.3%) and when combined with Software as a Service positions, they
represent one quarter of the available jobs. Graphic Design & Marketing
showed the next highest job vacancies (265 positions, 17.9%), followed by
Health & Medical Services (182 positions, 12.3%), and FinTech (56
positions, 2.6%).
“Over the past decade, venture capital has been at the forefront of driving
innovation through investment into businesses supported by new technologies
in areas such as FinTech, cyber security, food technologies and health and
medical services,” said Yasser El-Ansary, Chief Executive of the Australian
Investment Council.
“These fast-moving venture capital-backed businesses are constantly
evolving and creating new market opportunities that will lead Australia
into a post-COVID era of new jobs and economic growth.
“This could be boosted further through government and industry support to
accelerate and develop our domestic technology as an enabler of businesses
across all sectors of our economy,” Mr El-Ansary said.
The Council’s
pre-budget submission
proposes a number of initiatives to help achieve this outcome. Implementing
the 14 outstanding technical amendments to the Early Stage Venture Capital
Limited Partnership and Venture Capital Limited Partnership regimes,
introducing matching grants for Research and Development and implementing a
national co-investment program are amongst the Council’s federal budget
policy priorities.
Other key findings in the Future Jobs Barometer:
- There is a high demand for senior level roles in areas such as strategic
and operations management, which require specific skills sets in areas like
science and engineering.
- Director and Vice-President level roles are the most advertised in terms
of experience.
- Canva, Credible, Freelancer, Upguard, Baraja, Employment Hero, Live360,
Culture Amp Bugcrowd and Phocas Software are the top ten employers of the
companies analysed at 31 December 2020.
The Australian Investment Council will update the Future Jobs Barometer every six months.
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For an interview with Yasser El-Ansary please contact:
Robyn Tolhurst
Public Affairs Manager
[email protected]
M: 0436 388 919
About the Australian Investment Council
The Australian Investment Council is the voice of private capital in
Australia. Private capital investment has played a central role in the
growth and expansion of thousands of businesses, which when combined
represents a multi-billion-dollar contribution to the Australian economy.
Our members are the standard-bearers of professional investment and
include: private equity, venture capital and private credit funds,
alongside institutional investors such as superannuation and sovereign
wealth funds, as well as leading financial, legal and operational advisers. www.aic.co
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