Australia’s start-up ecosystem has seen impressive growth over the past few years. While Sydney and Melbourne have long been the country’s powerhouses, Brisbane and Adelaide are rapidly climbing the ranks. These two cities, once considered underdogs in the innovation race, are now capturing global attention. According to Startup Genome’s 2024 Global Startup Ecosystem Report, Brisbane and Adelaide have made significant leaps forward, thus cementing their place among the world’s emerging start-up hubs.
Business owners looking to capitalise on this momentum need to understand how these cities achieved such growth and what strategies can keep them on top. As competition heats up globally, it’s vital to adopt targeted approaches to foster growth and expand start-up support systems.
Brisbane and Adelaide have rapidly emerged as key players in Australia’s start-up ecosystem, driven by strong government support, thriving tech communities, and a focus on innovation. Their impressive growth reflects deliberate efforts to foster entrepreneurial talent, attract investment, and create a supportive environment. Adelaide start-ups and Brisbane start-ups are now gaining international attention and are set to shape the future of Australia’s emerging business landscape.
Here’s a rundown of their accelerated growth.
Adelaide has burst onto the global start-up scene, making its debut in the Top 100 Emerging Ecosystems with an 89 per cent increase in ecosystem value to $2 billion. Life sciences, space technology, and artificial intelligence (AI) are at the forefront of this transformation. Notable Adelaide-based start-ups, like space tech firm Fleet Space Technologies and intelligence software company Fivecast, have secured substantial funding, fuelling the city’s growth.
Adelaide offers an attractive proposition for entrepreneurs looking to scale their businesses, with its affordable lifestyle, world-class universities, and low-cost office spaces. This combination of factors has created a thriving ecosystem that positioned the city as a rising star in the global innovation landscape.
Brisbane is no longer just a sunny holiday destination – it’s becoming a global player in the start-up ecosystem. Brisbane jumped 13 spots in the 2024 Global Startup Ecosystem Report to rank 34th. Its growth has been driven by government initiatives like the Advance Queensland agenda. This program has poured resources into sectors such as defence technologies, cleantech, medtech, and deep tech, creating an environment ripe for innovation. The city’s start-up ecosystem grew by 81 per cent to reach $10.8 billion, with a booming tech workforce expected to grow to 185,000 by 2030. Success stories like Go1, Vaxxas, and Vaulta further demonstrate Brisbane’s start-ups and their ability to nurture entrepreneurial talent and become a key hub for innovation.
Brisbane businesses are capitalising on this growth and leveraging the city’s innovation-driven atmosphere to push boundaries in various industries. The city’s diversified start-up scene makes it an attractive destination for investors and entrepreneurs alike.
To maintain their positions as leading start-up cities, Brisbane and Adelaide must continue investing in the elements that have driven their recent successes. This means expanding access to funding, nurturing innovation through collaboration, and ensuring the digital infrastructure keeps pace with technological advancements. By focusing on these areas, these cities can not only retain but also enhance their standing on the global stage.
The rise of Brisbane and Adelaide start-ups serves as a blueprint for other cities looking to strengthen their start-up ecosystems. With the right strategies, they can continue to foster innovation, attract top talent, and create environments where start-ups can thrive. Business owners should take note of these developments as opportunities for growth and investment continue to emerge in these dynamic cities.
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