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Sydney named the best location in the Asia Pacific for startup ecosystem connectedness

Sydney is the number one location in the Asia Pacific for startup founders to connect and building strong relationships, the results of a global startup survey show.  

[Related: “Huge coup for Sydney” –  $35m startup hub to host exclusive Microsoft accelerator program, The NSW Government is launching a $35 million innovation hub; the startup community reacts, NSW Government set to secure equity in SMEs with ‘good ideas’ using new $150 million fund and “Previously, the government wouldn’t have engaged SMEs in this way”: Jobs for NSW CEO] 

The Global Startup Ecosystem Report 2018 from Startup Genome and the Global Entrepreneurship Network features strategic startup investment and policy insights from over 10,000 founders across 45 cities, including Sydney.

David Thodey, the Chair of Jobs for NSW, welcomed the finding that Sydney “beats” other locations in the Asia Pacific, including other Australian cities, when it comes to “local connectedness”.

“The NSW Government is helping to create the right environment for people to have the confidence to launch a startup, and to get the support they need to give them the best chance of success,” he 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.

“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.

“Microsoft recently brought its world-renowned intensive program for start-ups to the Sydney Startup Hub, making it one of only eight global host locations – a huge vote of confidence in Sydney’s status as a global startup leader.

“The Global Startup Ecosystem Report 2018 also shows that ‘Local Connectedness’ is strongly associated with higher startup performance – this is great news for Sydney and NSW and we’ll continue to create the right environment to back successful startups to create jobs.”

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.”

The report’s Sydney ‘Deep Dive’ is available at https://startupgenome.com/

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James Harkness

James Harkness

James Harnkess previous editor at Dynamic Business

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