Survival of the fittest as ‘zombie’ start-ups stagger through winter
The private tech scene is splitting into two camps, with strong well-capitalised start-ups bulking up and zombie firms looking for a way out.
In Australia’s start-up tech sector, the divide between the weak and the strong is growing. There is an increasing number of “zombie” companies staggering along, hoping their stronger peers can bring them back to life, or at least survive the tech winter, according to industry insiders.
The previously buoyant tech scene has been buffeted over the past 18 months as venture capital investors’ wallets have snapped shut, US banks have crumbled, and the tally of collapsed companies has started to rack up.
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