Recently I became aware of an Australian technology start-up company that went straight to Silicon Valley for its funding. Whilst it has maintained a base and staff in Australia it has set up another office in California. Does this mean that Australian state and federal governments have failed in their commitment to create a smarter country? Is it impossible to build a successful technology company here?

There are many examples of successful Australian inventions. Australians have created new medicines, machines and technology. So why do Australian inventions end up overseas? Are the Australian investors too cautious?

Hewlett-Packard, Apple and Google were all started in garages. They did not have government assistance. And there are plenty of anecdotes of investors who were offered the chance to invest in these companies but did not.

Perhaps it is just as hard to create a smart  country as it is to pick successful businesses.

In Startups: can we create another Silicon Valley in Queensland? I discuss these issues  and consider what are the essential ingredients required to support the growth of new businesses.