The Australian Small Business and Family Enterprise Ombudsman Bruce Billson says the Startup Year initiative proposed in Labor’s budget reply could contribute to Australia having a world-class ecosystem for entrepreneurship.

Labor Leader Anthony Albanese’s budget response included a pitch for Startup Year, a program helping up to 2,000 of the nation’s most promising entrepreneurs commercialise their ideas and university research.

Under the proposal, students would have access to loans of up to $11,300 through the HELP system to cover costs while participating in an accredited accelerator program.    

Mr Billson says the initiative is an interesting proposal and is looking forward to learning more about it.

“The Startup Year program is a useful and constructive proposal about how we might ensure Australia has a world-leading ecosystem to support entrepreneurship,” Mr Billson says.

“I look forward to learning more about the approach over the coming weeks and working collaboratively to ensure small business are a key focus in Labor’s economic plan.

“We all share the ambition of Australia being the best place to start, grow and transform a business and what this means for our economic prosperity and livelihoods.”