Australia’s startup founders are poised to revolutionise the country’s philanthropic landscape, with a new report showing the tech community is more likely to give more and differently compared to people with inherited wealth.
The Australian Tech Giving Report, co-authored by StartGiving and the Centre for Social Impact at the University of Western Australia (CSI UWA), provides the first comprehensive benchmark of philanthropy in Australia’s rapidly growing tech sector, which is projected to contribute $250 billion annually to the Australian GDP by 2030.
Key findings
- Growing impact: In just a few years, tech founders’ contribution to major philanthropy has grown from 1% to 21% of total grants made by Australia’s top 50 givers.
- Higher giving rates: 67.8% of survey respondents said they donate their money, compared to 27.5% of Australian taxpayers.
- Significant untapped potential: The 30 wealthiest people in Australian tech could easily contribute well over $25 billion to philanthropy, with nearly $19 billion already committed by a handful of this group.
“Australia’s growing tech sector has clear, untapped potential for more and greater giving, driven by a new generation of self-made tech founders,” said Daniel Petre AO, one of Australia’s leading tech investors and StartGiving’s Founder and Chair. “Impact-driven, comfortable with risk, people-oriented and highly collaborative, tech givers’ contemporary giving styles could revolutionise what it means to be a philanthropist in Australia.”
Established in 2022, StartGiving is on a mission to create a culture of giving in Australia inspired by the philanthropy of US tech leaders, exemplified by Bill Gates. Gates also sits on StartGiving’s advisory board.
The report notes positive trends in Australia’s burgeoning tech giving culture, including Robin Khuda’s gift of $100M to the University of Sydney to fund STEM education for girls, Atlassian Co-CEO Scott Farquhar’s decision to step down to focus on philanthropy through the Skip Foundation, and the Canva co-founders Melanie Perkins, Cliff Obrecht and Cameron Adams’ (with wife Lisa Miller) pledge to give the majority of their multi-billion-dollar fortunes away.
“Tech givers are action-oriented. Often with the means to give earlier in life, they’re motivated to start their philanthropy earlier, not decades down the track,” said Antonia Ruffell, StartGiving CEO. “We hope this report will inspire and encourage more tech founders with the means to start giving now.”
A distinctive giving approach
The research found that tech founders exhibit a different relationship with wealth than those in traditional sectors. Many interviewees cited luck as a significant factor in their success and expressed discomfort with their wealth compared to equally hardworking peers.
“I sold my business for a lot of money, and I felt almost guilty for the amount of money that it was. I mean, I worked hard, obviously, but it wasn’t commensurate with the amount of work I did… there are people who work a lot harder than I do. So, I felt it was a duty of mine to give back to the community,” shared one anonymous tech founder.
Tech givers tend to apply entrepreneurial principles to philanthropy, embracing a ‘fail fast, learn faster’ approach with optimism and experimentation. Rather than focusing on specific projects, they prioritise backing talented individuals and effective teams, reflecting venture capital strategies.
A glimpse into the future
Over half (57.7%) of respondents expect to increase their giving next year, with about one-fifth planning to establish foundations. The report suggests that tech philanthropy will continue growing in both scale and sophistication, potentially transforming not just how much is given but also how it’s distributed.
“Tech founders are bringing an entrepreneurial mindset to philanthropy—backing people over projects, offering flexible multi-year funding and prioritising impact over recognition,” said Arminé Nalbandian, Centre for Social Impact CEO. “This shift in approach has the potential to fundamentally rebalance the power dynamics of giving.”
Read also: Aussie corporates smash giving record: $1.5 billion to communities
Geraldine is currently the Content Producer for Third Sector, an Akolade channel. Throughout her career, she has written for various industries and international audiences. Her love for writing extends beyond the corporate world, as she also works as a volunteer writer at her local church. Aside from writing, she is also fond of joining fun runs and watching musicals.
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