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Sydney ranked Asia Pacific #1 for startup connections

Sydney has been ranked as the number one location in the Asia Pacific, and one of the world’s top ten, for “Local Connectedness,” in the largest-ever conducted global survey of startup ecosystem.

The “Global Startup Ecosystem Report 2018,” produced in partnership between Startup Genome and the Global Entrepreneurship Network (GEN), features strategic startup investment and policy insights from over 10,000 founders in 45 cities — including Sydney.

The report provides, for the first time, advanced analysis of 15 startup sub-sectors in which technology-based startups are creating economic value. The ‘Local Connectedness’ factor in the report captures the extent to which a startup community is tightly-knit.

Sydney’s startup ecosystem has been ranked as the fourth in terms of local connectedness, next to Greater Helsinki, Silicon Valley and Tel Aviv.

Melbourne was the other Australian city in the global survey.

The Jobs for NSW chair David Thodey today welcomed the results of the highly anticipated survey.

“The survey shows nowhere in the Asia Pacific beats Sydney as a place where founders can best connect and build strong relationships,” Thodey said.

“The strong connections between startup founders in Sydney are testament to investments made in recent years, including the $35 million Sydney Startup Hub and efforts to connect Sydney with startup communities around the state.


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“With the Sydney Startup Hub we now have a world leading startup and innovation centre set to create thousands of jobs across metro and regional NSW which rivals international facilities like Kendall Square in Boston and Station F in Paris.

 

Thodey said that the NSW government, through Jobs for NSW, has committed $190 million to support fast-growth businesses at every stage of their lifecycle.

“We’ve launched a $150 million GO NSW Equity Fund, in partnership with First State Super and ROC Partners, where we’re taking an equity stake in high-growth firms.

“The government is also supporting startup sector growth with its $25 million investment in the Sydney School of Entrepreneurship and its $18 million Boosting Business Innovation Program that links businesses to universities’ research and knowledge.”

Startup Genome, in a collaborative effort with hundreds of public and private organisations in more than 30 countries, works to increase the success rate of startups and improve the performance of startup ecosystems globally.

The Global Entrepreneurship Network (GEN) operates a platform of projects and programs in 170 countries aimed at making it easier for anyone, anywhere to start and scale a business.

 

 

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