Just 10 days ago I wrote a post asking whether Web Equity could save the Aussie Tech Startup Industry. One key aspect of that was whether or not there would be support for the equity rather than cash model.

Well founder Paul Middleton has released a first report and it looks like the support might just be there.

“We’re heading towards 100 members already”, said Middleton, “which I’m really pleased about after only 10 days. I really had no pre-conceptions as to how the startup community was going to react to the service, but it appears to support the idea”.

It’s still early days, and, as Middleton acknowledges, the site will need a success or two if it’s going to be able to keep building the user base, but at least things are quickly heading in the right direction.

This is one to keep an eye on.