I haven't found that. I've moved back about a year ago and found despite being less that syd/canberra it's still pretty solid, even with the financial climate.
There's a few startups dotted round and some now big ones as well mincom, tech1, ... I think there are quite a few around however they stay quite and do tend to be more enterprise focussed, which makes sense for here. I don't think you're going to get many aus backers without really clear revenue plan hence targeting people who clearly have money. Seems to be slowly opening up though.
Walking round YOW this year you could pick out a few startups round. The lean startups and mike lee's product dev talks were pretty well attended so maybe there'll be a spate in the next 9 months.