New research has been released that details the world’s top 20 startup destinations for aspiring business owners and tech professionals. How did Australia do?
This stretches all the way back to Silicon Valley in the 70s, when now household names like Steve Wozniak and Steve Jobs were still finding their feet. Now, startup hubs have sprung up around the world, with Australia in particular home to a number of cities that have been recognised internationally by aspiring business owners. around the world are providing the opportunity for people to follow their dreams when it comes to starting their own business. While the connected nature of today’s world means it’s theoretically possible to start a company anywhere and quickly find success, tech startups in particular are focused on community and collaboration.
Sydney leads the way for Australian startups
A new report from analytics provider Compass has ranked the world’s top 20 startup destinations. After all these years, Silicon Valley is still the place to be according to the firm, proving just how entrenched these communities can become.
Australia is also making its mark on the international startup landscape, though, with Sydney named inside the world’s top 20, at 16 overall.
Sydney’s place in the top 20 is defined by the sheer size of its startup scene, with Compass reporting that around two-thirds of all Australian startup activity takes place in the city. The organisation estimates this includes between 1,500 and 2,300 individual ventures.
While its overall ranking was 16, the Sydney startup scene is outperforming a number of other key players in terms of talent, which led to it being ranked sixth for this category.
What does the future hold?
According to StartupAUS, there is the potential for other cities around Australia to develop the same level of international influence as Sydney. The organisation’s CEO, Peter Bradd, provided advice for other cities around the country, which will be of particular use to Melbourne as it has dropped out of the global top 20.
“We urgently need to do more to develop our ecosystem within cities and within the broader state economies to ensure we don’t fall further behind our counterparts in the global startup ecosystem,” he said.
“This means acting now and it means far greater collaboration between governments and the private sector.”
Other cities could mimic Sydney’s commitment to creating a welcoming environment for these companies. The city’s Draft Tech Startups Action Plan details the way it intends to promote growing businesses that are innovative and disruptive in the tech sector.
According to the draft plan, the appeal to promoting these companies lies in the fact they contribute to the local economy but also have the potential to reach global audiences.