Sydney’s highly active tech startup ecosystem consistently produces leading contenders on a yearly basis—this year, companies like Spacer and Betswaps are garnering the attention of consumers and investors alike.
And with traditional industries like mining coming to a close, tech startups will continue to play a critical role in invigorating the local economy. The following are the top 7 reasons that Sydney might be the next Silicon Valley.
7. The soon-to-be second Sydney airport.
The second airport in Sydney—expected to open in 2026—will be located in Badgerys Creek, close enough to the existing Kingsford Smith Airport, but expected to open up a host of new opportunities in Sydney. The airport’s opening is expected to be a game changer for the city’s economy, opening up western Sydney to the rest of the globe.
6. An innovative national science and entrepreneurship agenda.
The Au $ 1.1 billion project unveiled last November covers at least 20 measures, including the support for entrepreneurship and startups. This will go a long way in positioning Sydney as a global leader in tech innovation.
5. The presence of a myriad of enterprise tech players.
Some of the world’s leading tech enterprises have established themselves in Sydney: Adobe, Dell, EMC, Microsoft, and Salesforce, to name a few. Their presence ensures a viable ecosystem of both industry leaders and promising upstarts.
4. An incubator support initiative spearheaded by the Australian government.
Incubators are a critical resource for bringing innovative tech startup ideas to fruition. The government’s incubator support initiative originally pledged Au $8 million—but has committed an additional $15 million over 4 years to support incubators and startups.
3. A mature data infrastructure and environment conducive for business.
Sydney is already one of the world’s leading global cities, with a sophisticated transportation network, mature data infrastructure, and high speed internet. Additionally, the city offers various grants and sponsorships for business projects that fall into one of four categories: business, environment, cultural and community.
2. Global startup networks and connectivity within the city.
Many global accelerators and entrepreneur networks exist in the city, connecting local innovators with other like-minded professionals across the globe. For example, the RocketSpace coworking space and tech center has a presence in both Sydney and San Francisco, among others.
1. Globally-recognized tech startups are flocking to Sydney for its immense market opportunities.
Many of the world’s leading tech startups and enterprises already call Sydney home; additionally, the city has seen a sizable influx of prominent tech firms setting up shop locally. For example, Jack Dorsey’s Square made its debut in Australia last year, bringing the company’s mobile payment solution to Sydney for the first time.
In short, with 64% of Australian tech startups in its perimeter, Sydney is the biggest tech startup ecosystem in Australia, and one of the fastest growing in the world—as it stands, the city ranks 16th out of 20 on the Startup Ecosystem Index. It’s therefore no surprise that digital firms across the world are relocating to Australia’s biggest city to launch their tech ventures.