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Steve Baxter
Professional Background
Steve Baxter is a dynamic entrepreneur and seasoned business leader, currently serving as the Chief Executive Officer at Transition Level Investments, where he utilizes his extensive experience in technology and investments to drive innovation and growth. His career is marked by a combination of leadership roles and significant contributions to the technology ecosystem, particularly in Australia. With a history of founding and nurturing startups, Steve has built a reputation for not only driving financial success but for mentoring the next generation of innovators.
For many years, Steve was a partner at Ten13, a venture capital firm that supports emerging startups by providing them with the strategic investment needed to transform their ideas into successful businesses. His previous positions include Non-Executive Director at Isa Group and Director at Startupaus, where he played a pivotal role in advocating for the startup community in Australia. Steve's deep commitment to fostering entrepreneurship is further exemplified by his founding of River City Labs, an incubator dedicated to supporting startups and empowering entrepreneurs.
Education and Achievements
Steve Baxter's educational background laid the groundwork for his illustrious career in technology and business. He holds a degree in a relevant field that equipped him with the foundational skills necessary for his future success. Over the years, he has accumulated an impressive array of achievements, which highlights his dual focus on technological innovation and community building.
During his tenure as Technical Program Manager at Google, he honed his abilities to manage complex technology projects and lead teams towards achieving landmark initiatives. His role as Chief Technology Officer and Co-Founder at Pipe Networks showcased his ability to disrupt traditional industries and introduce groundbreaking solutions. In addition to his numerous roles, as Managing Director at Se Network Access, Steve made considerable contributions to the telecommunications sector, providing innovative access solutions that are still relevant today. Steve's vast experience working with both startup companies and established corporations allows him to bring a unique perspective into his current endeavors.
Steve’s contributions extend beyond his corporate roles; he was also involved as a Board Member at Commercialisation Australia, where he worked on initiatives to help transform groundbreaking research into commercial success. His expertise in navigating the complexities of technology commercialization has proven invaluable to many startups in the Australian landscape.
Achievements
Steve’s career has been adorned with notable achievements that reflect his leadership in the tech industry. His successful ventures, including Right Pedal Studios and River City Labs, have helped shape the startup ecosystem in Australia. River City Labs, in particular, has emerged as a leading hub for entrepreneurs, fostering a supportive community where startups can thrive.
As a founder of multiple startups, Steve Baxter has continually demonstrated his capacity to identify market opportunities and apply innovative solutions. His role as a Non-Executive Director at Vocus Communications further illustrates his strategic insights into the telecommunications industry. Each of these positions has provided him with the platform to make impactful decisions that drive industry advancements.
Through his various roles, Steve has also become well-known for his dedication to mentorship, coaching aspiring entrepreneurs, and sharing his insights on navigating the challenges of launching a startup. His commitment to the startup community is also reflected in his participation in initiatives aimed at promoting entrepreneurship and innovation in Australia.
Conclusion
In summary, Steve Baxter stands out as a visionary leader in the technology and startup sectors. His extensive career is a testament to his passion for innovation, dedication to empowering others, and unyielding commitment to driving success. As he leads Transition Level Investments into the future, there is no doubt that Steve will continue to influence the landscape of technology and entrepreneurship in Australia and beyond.
Highlights
It is a big read but a good one, happy 3rd birthday AUKUS. Greg is not wrong in much of his analysis. It is always instructive to look at what politicians do and not what they say - AUKUS is $372B program over 32 years, simple maths should tell you what increases we need in the defence budget to manage it.
Unless we see the defence budget rise by $5B now and then an extra $1B pa until we get to an $12B+ (need to make up for 3 lost years) then the government is not serious about it.
Easy money to find btw - just give NDIS the$22B budget AND NO MORE. Like defence, make NDIS live inside its budget.
We are out of time, let’s act.
As an organisation that wants to see more private capital in defence industries I am not sure how I feel about government putting their thumb on the scales of getting super funds involved. Just as I do not like super funds investing THEIR MEMBERS' CAPITAL in follies like government mandated solar panels and wind turbine (insert the political cause of the day) I put defence in this category. No different to ESG, members need to make a decision if they want THEIR manager to invest THEIR CAPITAL in lower return fool's errands like ESG.
Reactionary responses to prod capital into markets does not fully take in how companies progress from idea to profit turning business. It is a pipeline, you need lots of startups taking on ideas, entering the market, challenging the incumbents, innovating etc. If these firms require equity capital to grow then there needs to be backers will to take on that risk. There needs to be lots of backers. Once these companies grow then other capital may chose to invest, as the risk decreases the opportunity will appeal to different classes of investors with different risk appetites.
Super funds, unless backing early stage managers (which would be good - DM me if you feel this way inclined 😁 ) will write large cheques that will go to growth stage companies for the most part. That is great for those companies but there needs to be a supply of opportunities, where do these companies come from.
In order to have a vibrant market that RESPONSIBLE SUPER MANAGERS will want to invest in you need all parts of the pipeline working but importantly you need to put things onto that conveyor belt at the start. So whilst I welcome super capital coming in I only want it in under the right conditions, where they are making valid investments in order to generate returns for their members retirement.
In order to get that environment we need early stage companies being formed and backed. How do we get that ? The blueprint is out there and it works - tax incentives. ESVCLP and ESIC have done an awesome job in this area. Let's drive more investors into defence - instead of 10% and 20% incentives (respectively for the two afore mentioned schemes) lets go 100% tax credit! The DSR got one thing right - we are out of time - we need to act. Let's deploy private capital to super charge our defence technology and industry sector. But like all things, this starts at the beginning.
