LaunchVic CEO Dr Kate Cornick has resigned after a decade with the Victorian startup body to become the new CEO of the Tech Council of Australia (TCA).
She’ll take over from outgoing CEO Damian Kassabgi, who will become a special adviser to the Tech Council board after announcing his departure from the role last year.
Meanwhile, Brighte founder and CEO Katherine McConnell, a founding member of TCA’s Consumer Energy Tech Alliance, is replacing former board member Robyn Denholm as a TCA director.
Chair Scott Farquhar, an investor in Brighte via his wife Kim Jackson’s VC fund, Skip Capital, said “Katherine’s record on tech-based innovation and passion for sustainability is widely regarded, and her perspectives and experience will be a valuable addition to the Board.”
The choice of Cornick as the new TCA boss may go some way to addressing concerns that the industry lobby group is too heavily aligned with the big end of tech town, at the expense of early-stage startups.
She was previously a startup founder, ministerial advisor and GM of enterprise and strategy at NBN Co before joining the state government-funded startup body in 2016 as its founding CEO.
Last month she was appointed deputy chancellor of Charles Sturt University.
Cornick has been central to the growth of LaunchVic. On her watch Victoria’s startup ecosystem quadrupled in size to 4,400 startups on and the sector valued at $139 billion, a 28x increase in the decade.
In December, the Victorian government announced LaunchVic would be merged into the investment fund Breakthrough Victoria as part of broader public sector reforms to try and reduce the cash-strapped state’s ballooning budget deficit, which has grown nearly 10x during a decade of the Labor government, with Victoria’s net debt is predicted to hit $194 billion in three years.
The shape of the merged entity remains uncertain at this point.
VC transformed
LaunchVic chair Leigh Jasper paid tribute to Cornick’s stewardship.
“Under Kate’s leadership startup creation in Victoria has grown significantly, the venture capital landscape has been transformed and the sector’s economic contribution is recognised,” he said.
“She is widely respected for her deep sector expertise and strong relationships across industry and government. The Tech Council of Australia is fortunate to have her leading the organisation.”
Scott Farquhar thanked Kassabgi for his contribution and welcomed Cornick
“The last few years has been a time of real momentum and change for the sector as well as for the TCA and the role we play on behalf of our members, and Damian has been central to driving and successfully navigating both,” he said.
“Damian will hand over the reins as CEO with the TCA in a strong position operationally and on the back of key wins for members from a policy, advocacy and engagement perspective.”
McConnell said she joins the TCA board a pivotal time.
“The next decade will define Australia’s place in the global tech economy,” she said.
“I’m excited to work alongside the Board and members to help ensure more Australian tech companies can scale and succeed.”
The TCA’s AGM also approved an additional 3-year term for Farquhar as a director.
