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Steve Baxter urges start-ups to get educated on ESIC

Don’t be an ESIC idiot: Steve Baxter

Prominent tech entrepreneur Steve Baxter has urged start-ups to stop ignoring the generous tax breaks available to their investors if they achieve Early Stage Innovation Company (ESIC) status. Mr Baxter, who co-founded telco Pipe Networks which was sold to David Teoh’s TPG for $373 million in 2009, and is now a major investor in start-ups himself, said the generosity of the tax concessions was under-appreciated.