Open borders, better university training and dizzying pay packages are all requirements for fast-growing Australian tech companies, who say they are struggling to deliver on their potential due to cut-throat competition with big business for insufficient skills in the local market.

Company founders, CEOs and investors who spoke to The Australian Financial Review said immigration restrictions necessitated by the COVID-19 pandemic had served to exacerbate a pre-existing tech skills shortage, and left companies over-paying locally and searching overseas for requisite talent.