Domenic Carosa

In Domenic Carosa’s experience, being a successful entrepreneur involves finding the right specialists and talent, but then also being able to steer them in the right direction.

Domenic is co-founder and CEO of Destra Corporation, the largest independent media and entertainment company in Australia. With fingers in many pies, destra (spelt with a lower case d) develops communication strategies for commercial brands; covers music licensing, sales and distribution; enables independent artists and labels to sell their content via digital music retailers and independently distributes home entertainment in Australia.

So far it has been a rapid and colourful journey for Domenic and destra. Formed in 1993 by Domenic and his sister, the company was run from his bedroom at their parent’s house during its early years and, being unable to secure bank loans, it relied instead on credit cards as a source of working capital.

“In the mid-to-late ‘90s, I told our software developers we’re going to go public, and one of the guys turned around and basically said, ‘Domenic, you’re crazy. How can you go public … you’re still operating out of your bedroom?’”

So, flying in the face of all wisdom, destra went public in May 2000, just as the dotcom industry was reeling from its spectacular nosedive. The rest, for destra, has become Australian business history.

Up to that point, Domenic was learning on the job. Then he was introduced to Swinburne’s Master of Entrepreneurship and Innovation (MEI) program – three years Domenic says were some of the best of his life.

“I was doing a commerce degree at another university and I lasted six weeks,” he recalls. “I hated it because everyone was focused on beer and chips and I was focused on business.”

Six years later, when the destra listing process was in full swing and Domenic was about to become the youngest CEO of a public listed company in Australia, he completed the MEI program at Swinburne. “It gave me the tools to help run the business, and I certainly attribute part of where the company is to the MEI,” Domenic says.