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The Startup Board Report

The Startup Board Report

The Startup Board Report is a playbook for founders and board members of Australian startups.

Amanda Price

Head of High Growth Ventures, KPMG Enterprise

KPMG Australia


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People sitting around a boardroom table

The Startup Board Report by KPMG High Growth Ventures and Think & Grow paints a comprehensive picture of how high growth ventures appoint and interact with their boards. The report is based upon in-depth interviews with 26 startup board directors in Australia, the US, the UK and NZ, and a survey of more than 70 Australian startups.

Key findings

  • Only one in four Australian startups have an independent director on their board.
  • 65% of startups don’t have a formal recruitment process for board members.
  • 92% of startups have board members who are external investors in that startup.
  • Close to one in four (24%) said they would not choose the same board again, with startups who have completed Series A, Series B and Series C+ funding rounds much more likely more likely to say that they’d change their board if they could go back, relative to seed stage funded startups (30% vs 15%).
  • Only half (50%) of startups compensate their board members with cash or equity.


Read more in the Startup Board Report.

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