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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.

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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.

© 2020 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Liability limited by a scheme approved under Professional Standards Legislation.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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