Policy priorities

The tech sector contributes $167bn to the Australian economy and employs 861,000 people

The tech sector is a critical pillar of Australia’s economy. Research by Accenture on the Economic Impact of the Tech Sector in Australia has found the tech sector contributed $167bn per annum in Australia in FY21.  That makes tech sector activity equivalent to the third biggest industry in Australia today, behind mining and banking. 

The tech sector is also a major employer, with 861,000 Australians – or 1 in 16 working Australians – working in tech-related employment.  Since 2005, tech jobs have grown by 66%, compared to an average jobs growth rate of 35% across the economy.

By 2030, tech sector activity has the potential to contribute more to GDP in Australia than primary industries or manufacturing.TCA members want to continue to grow the tech sector, creating new jobs and opportunity for Australia.

That’s why we have set three goals for the tech sector in Australia:

That’s why we have set three goals
for the tech sector in Australia:

TCicons

Employing 1m people in tech-related jobs by 2025

TCicons

Having tech activity contribute $250bn to GDP by 2030 

Making Australia the best country in the world to create and invest in tech companies 

We have developed a ten point plan to achieve these goals, which focuses on encouraging growth and investment, creating jobs and pathways into them, and having Australia become a leader in digital economy regulation.

Growth

  • Create and grow more new businesses by addressing early-stage company funding gaps and creating more ‘shots on goal’ for high-growth companies
  •  Incentivise investment and business growth, e.g. through Research and Development Incentives, defining sophisticated investor and broadening ESIC
  • Support tech take-up by Australian businesses across the economy to lift productivity

 

Talent

  • Achieve 1 million tech sector jobs by 2025
  • Grow the pipeline of skilled workers and pathways into tech sector jobs
  • Refine Employee Share Scheme rules  keep and reward Australian  talent
  • Target skilled migration programs by improving availability of the GTES visa and re-evaluating processes for allocation of TSS Visas

 

Regulation

  • Be a digital economy regulation leader by encouraging the safe and early introduction of new products and services with fit-for-purpose regulation
  • Institute clear and proportionate frameworks for privacy and data protection
  • Pass security laws that protect but don’t unnecessarily inhibit

Growth

  • Create and grow more new businesses by addressing early-stage company funding gaps and creating more ‘shots on goal’ for high-growth companies
  •  Incentivise investment and business growth, e.g. through Research and Development Incentives, defining sophisticated investor and broadening ESIC
  • Support tech take-up by Australian businesses across the economy to lift productivity

 

Talent

  • Achieve 1 million tech sector jobs by 2025
  • Grow the pipeline of skilled workers and pathways into tech sector jobs
  • Refine Employee Share Scheme rules  keep and reward Australian  talent
  • Target skilled migration programs by improving availability of the GTES visa and re-evaluating processes for allocation of TSS Visas

 

Regulation

  • Be a digital economy regulation leader by encouraging the safe and early introduction of new products and services with fit-for-purpose regulation
  • Institute clear and proportionate frameworks for privacy and data protection
  • Pass security laws that protect but don’t unnecessarily inhibit