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An interesting assessment of the start-up scene in Victoria. I actually think there’s a big issue with founders not wanting to talk about their ideas for fear of them being stolen — I think this adds to the issue. But I also think AngelCube should have been offering more money in previous batches— so it’s great to see that $40,000 for 8% is now the terms. That’s much better and compares to the Sydney accelerators making it more enticing to start in Melbourne. I think it will really start to change when we see the terms seen by U.S accelerators but that’s probably a way off. That all said — I think Melbourne has an amazing start-up scene which is building rapidly with many passionate entrepreneurs.