There is a great deal of excitement surrounding the tech and startup space in Sydney, and Australia generally. The adoption of a “new economy” provides Sydney the opportunity to reinforce its place as the economic capital of Australia in the 21st Century. It remains attractive to all sides of politics and is capable of creating a global market very quickly with broader economic and employment benefits.
Sounds good to me! What next?
Well, Sydney is currently the biggest technology and startup ecosystem in Australia, with a whopping 64% of Australian based startups living and working in Sydney. According to IoT Group chief executive Simon Kantor, via the Australian Financial review, Australian entrepreneurs choose Sydney as their base due to its proximity to funding and services. Great! What are those funding opportunities and services?
Despite our position as the startup capital of Australia, criticism of the NSW state government has suggested that there is insufficient support for the sector. Furthermore, late last year the City of Sydney introduced a ‘Tech Startups Action Plan’ around the same time that Sydney (and Melbourne) fell sharply in the rankings of international startup innovation.