Tech start-up businesses
- The biggest technology start-up 'ecosystem' in Australia is in Sydney
- 64% of Australian technology start-ups are in Sydney
- Globally, Sydney ranks 12th from 20 cities on the Start-up Ecosystem Index
Rapid growth potential
Technology start-ups have been described as part of the 'new economy' and are expected to play a strong part in ensuring the City's economy and local community remains diverse, global and connected.
A tech start-up with a successful business model has the ability to reach a global market rapidly resulting in swift local economic and employment benefits.
Supporting entrepreneurs to start and grow their business will create more jobs, boost Sydney's economy, strengthen global connections and make the City a more desirable place to live, work and visit.
The City of Sydney is looking at how we can support entrepreneurs in creative and technology start-ups with a number of pilot projects underway. Our focus is on creative enterprises, specifically new, innovative businesses that have technology at their core and are designed for fast growth.
Start-ups can 'scale rapidly', that is the process where a start-up company quickly moves from a couple of entrepreneurs with an idea to a profitable, trading business with multiple employees. Information, media and technology businesses currently generate about 11% of local economic impact.
In 2012, there were 1,500 Australian firms ranging in 1 or 2 person start-ups created in the past 12 months to more established businesses that have been around for a decade, according to a report produced by PwC. Of these start-ups:
- 64% of start-ups are in Sydney followed by 24% in Melbourne
- Sydney is ranked 12th out of 20 cities in the Startup Genome Ecosystem Index.
A report by Deloite Private states that Sydney has the biggest tech start-up 'ecosystem' in Australia – 55% larger than Melbourne, 6 times bigger than Brisbane and nearly 8 times larger than Perth.
Anecdotal evidence indicates a high level of activity in start-up businesses demonstrates a demand for education events, networking and office accommodation within the local area.
The City is developing a draft entrepreneur action plan, which will focus on start-ups outlining how we will work with entrepreneurs, industry and government partners to help the sector continue to develop and grow.
Practical learning for entrepreneurs
The pilot program is designed to give practical, useful support in growing start-up businesses, which offers short, sharp education that entrepreneurs need in 5 key skill areas. The program also offers one-on-one mentoring with some of Sydney's most successful entrepreneurs, business people and business consultants from PwC Australia.
Practical Business Learning for Entrepreneurs UTS@Hub is a collaborative program between the University of Technology, Sydney, Hub Sydney and sponsored by the City.
Connecting women entrepreneurs
The City sponsors Springboard Enterprises, an Australian-first program to connect women with entrepreneurs, investors and industry experts. Women-led companies that successfully apply for the accelerator program receive hands-on coaching from industry experts and exposure to Springboard's network of VCs, angels, corporate investors, seasoned entrepreneurs and strategic partners in Australia and the US.
Networking and events
66 Meet-Ups is a networking group founded in 2012 that brings together and supports Sydney's creative entrepreneurs. It is sponsored by the City and coordinated by ATP Innovations.
CeBIT Australia is a major ICT business event focused on the use of technology to improve business productivity. The event has increasingly become a platform for international trade and business negotiations, which the City has sponsored since 2010.
Manager, Economic Strategy
Economic Strategy Unit02 9265 email@example.com
Last updated: Thursday, 19 December 2013