Hunting for angels
The next big tech unicorn could be in Townsville
AN angel investor with links to Townsville is appealing to our high net worth individuals to join the digital revolution by supporting promising technology startups.
Software engineer- turned- technology- investor Scott Rogers is launching Townsville’s first angel investment group.
To be called Startup Investment Group North Queensland ( SigNQ), the group will host a series of events in Townsville over the next 12 months after gaining $ 20,000 from the State Government’s Advance Queensland regional angel investment support program.
Mr Rogers said Townsville investors needed to join the digital revolution to benefit themselves and the region.
While the region had generated very successful startups such as SafetyCulture, JESI journey management system and done management company FlyFreely, Mr Rogers said very little of the wealth that had been generated had been retained in Townsville.
“We need some of the capital being allocated to traditional investments to start funding these startups because they are leaving Townsville due to a lack of support,” Mr Rogers said.
“Investors in North Queensland should support these local startups and support them to be successful so they can share in the success.”
Earlier this year, FlyFreely gained a $ 250,000 capital raising through Cairns- based FNQ Angels which will help fund its expansion nationally.
Mr Rogers said SafetyCulture had started in a Townsville garage and was now valued at $ 440 million.
“Hardly any Townsville investor I know has a slice of that,” Mr Rogers said.
He said it was important for Townsville to retain and nurture its startup businesses to help position the city for the digital revolution sweeping through the economies worldwide.
A 2016 regional Queensland startup ecosystem report suggested 25 per cent of regional Queensland’s gross regional product would be impacted by digital technologies by 2025, Mr roger said.
“The most important issue to do is to get the venture capital to the most promising startups,” Mr Rogers said.
“If we don’t we are going to miss out on the revolution that’s happening.”
SigNQ will be launched at an information evening at innovation hub iNQ in Central Village on August 15.