Venture Capital Investment

The Hon. E.S. BOURKE (14:29): I seek leave to make a brief explanation before asking a question of the Minister for Trade and Investment regarding statistics.

Leave granted.

The Hon. E.S. BOURKE: Recent numbers from the Bureau of Statistics show that venture capital and private equity investment in firms headquartered in South Australia dropped by 40 per cent in the last financial year. This comes after the government took policies like GlobeLink to the last election and promised to boost business confidence through a focus on entrepreneurship in schools and new visas. My question to the minister is: given that South Australian start-ups rely on venture capital funding, how would the minister rate the government's success in attracting new venture capital in South Australia?

The Hon. D.W. RIDGWAY (Minister for Trade and Investment) (14:30): I thank the honourable member for her question. Of course, you only have to have a look at the excitement down at Lot Fourteen and the businesses that are coming in, the start-ups, the entrepreneurs who are there. I am confident that we will have continued investment in South Australia. There are some businesses—

Members interjecting:

The PRESIDENT: Order!

The Hon. E.S. Bourke interjecting:

The PRESIDENT: The Hon. Ms Bourke, do you want to answer your own question or would you like the minister to answer your question? Listen in silence. Minister.

Members interjecting:

The PRESIDENT: Order!

The Hon. D.W. RIDGWAY: There is a range of things that are ongoing that the government is doing, that my department is doing, and we will have some exciting announcements over the coming weeks about great things that are happening in South Australia.