While Brisbane and Adelaide are making waves, Sydney and Melbourne remain the established giants of Australia’s start-up ecosystem. Sydney, though experiencing slower growth, still holds the top spot in the country with an ecosystem valued at $72 billion. The city continuously attracts significant global investment, especially in sectors like climate tech, medical tech, and quantum technologies. Melbourne, on the other hand, rose to 32nd in the rankings, with a 23 per cent increase in ecosystem value. Government-backed initiatives, such as LaunchVic, have bolstered Melbourne’s fintech and life sciences sectors, making it a critical player in Australia’s innovation scene.
Brisbane, Adelaide, and other cities need to take strategic action. These efforts are crucial to maintaining their momentum. Here are five essential strategies to maintain strong start-up growth.
Start-ups need capital to thrive. Cities should focus on increasing access to venture capital, government grants, and angel investors. Brisbane and Adelaide’s rise has been partly driven by successful funding rounds—a model that other cities can emulate.
Collaboration between universities, government bodies, and private companies is essential for innovation. Adelaide’s partnership with local universities has been a major driver of its growth. Building a collaborative environment ensures a steady flow of new ideas and talent.
Physical spaces like tech hubs and affordable co-working spaces are vital. These spaces not only provide start-ups with the resources they need but also foster a sense of community. Cities like Brisbane have invested in these infrastructures, encouraging entrepreneurship.
In today’s tech-driven world, strong digital infrastructure is non-negotiable. High-speed internet and state-of-the-art digital systems are essential for start-ups to compete on a global level. Adelaide’s GigCity internet is a shining example of how this can be achieved.