If you want your team to be much starter-runners, then yes. 300 BP is reasonable. Anything exotic gets shut down instantly, as it's pretty much impossible to do anything outside the typical metavariants with it, but you'll typically end up with a bunch of people who only have 1 or 2 IP's, and no armor or weapons worth a darn. There's really no room to spend any Karma on money when you only have 300, so you should plan on giving them equipment for free if you have them start like this.
However, your main first point seems to have been that the technomancer with only 1 IP seemed to feel left out from everyone. Keep in mind that technomancers have 3 IP when they go VR. If there wasn't anything for him to do there, that's not IP's fault. That's poor mission planning, or poor character creation. Picking up a drone or two in character creation and putting some guns on them would give him something to do with those 3 IP's right along side the rest of the party. If he didn't pick any up, and you gave him nothing to hack, then yes. He'll feel left out, because he was. However, as soon as matrix things start happening, he won't feel very effective if you cut down his 3 (and later potential for 5, yes technomancers can get 5 with some karma) IP's, because hacking is usually a multi-IP process. If he's never able to hack through a simple door faster then the street samurai is able to hack his way through it, he'll never feel like he will have a place.