Australia's Tech Startups Under Pressure

Multiple tech startups across Australia have been pushed to their breaking point with the liquidation of Melbourne-based food delivery platform Providoor last week. 

Launched by celebrity chef Shane Delia in April 2020, the service had expanded its reach around Victoria and into Sydney, Canberra and Brisbane amid pandemic restrictions. 

In a statement Mr Delia said challenging economic conditions were responsible for his company's demise - just weeks after competitors CoLab and MilkRun suffered similar fates due to soaring inflation rates coupled with rising interest costs. 

Despite these setbacks within industry circles views are positive that Australian start up companies can survive this period of turbulence as co-founder Paul Naphtali affirms strength remains in our startup sector despite harsh times ahead for staff members & customers alike acknowledging failure is part of life when pursuing 

- CyberBeat