An emerging ecosystem

  • The biggest tech startup ecosystem in Australia is in Sydney
  • 43% of Australian tech startups are in Sydney (Source: Startup Muster 2018)
  • Globally, Sydney ranks 23rd from 150 cities on 2019 Global Startup Ecosystem Report

Encouraging tech startups will create more jobs, boost Sydney’s economy and strengthen global connections. It will also make the city a more desirable place to live, work and visit.

Our tech startups action plan details how we will work with industry and government partners to create an environment that enables technology entrepreneurs to start and grow successful global businesses.

Sydney’s tech startup ecosystem is in its early stages of development and its needs are very different to those of small businesses. Entrepreneurs and tech startup companies need a local environment that provides support networks, business and entrepreneurship education, infrastructure and financing opportunities.

Our action plan focuses on creating an ecosystem that enables knowledge-based, innovation-driven businesses to flourish. To support the tech startup ecosystem in Sydney, we will focus our activities on 5 main areas:

  1. Build a strong entrepreneurial culture and community. Encourage more people to become technology entrepreneurs who start and develop high-growth companies.
  2. Create skilled and connected entrepreneurs. Build a robust ecosystem in which technology entrepreneurs have the capacity and networks to launch local companies that become global companies.
  3. Increase the startup ecosystem density. Ensure startups and the organisations supporting them are able to scale and can be located close to one another. This will enable them to connect, share ideas, mentor and partner with others.
  4. Support entrepreneurs’ access to funding. Generate more investors and more investment in tech startups, and connect entrepreneurs with investors and businesses.
  5. Develop technology entrepreneurs’ access to markets. Increase the number of consumers before and after the release of an entrepreneur’s product or service.

The plan, adopted by Council on 27 June 2016, is designed to address the needs of individual tech startups. It also supports organisations that help them to launch and scale, such as accelerators and incubators.

Proposed City programs

  • Investigate the need for an entrepreneurship centre. This will provide a critical mass of office and event space for entrepreneurs in tech startups and the organisations that support them.
  • Create an awareness campaign focused on Sydney’s entrepreneurs and the tech startup ecosystem.
  • Support a Sydney tech startup festival to celebrate and promote the ecosystem.
  • Include digital technology education activities in the City’s programs, such as providing sessions on how to code in our youth and library programs.
  • Host business seminars to inform the Sydney community about the tech startup ecosystem, how to fund and grow startups, and enable them to network with others.
  • Use our engagement and communication channels to discuss and debate the impact of innovative technology, and to showcase tech startups.
  • Support entrepreneurs implementing the City’s knowledge exchange sponsorship program. This program supports education and networking activities coordinated by the entrepreneurial ecosystem.
  • Provide innovation funding to support the development or implementation of new technologies or processes that have the potential to improve environmental sustainability.
  • Create a visiting entrepreneur program to fast-track the business skills of technology entrepreneurs.
  • Collaborate with partners to develop business and entrepreneurship education and mentoring opportunities.
  • Assist ‘angel’ investor associations or other members of the ecosystem to hold investor recruitment education events.
  • Leverage our international sister-city relationships to strengthen knowledge and investment exchange.

Contacts

For more information, please contact:

Manager, Economic StrategyEconomic Strategy Unit
02 9265 9333

Last updated: Thursday, 9 April 2020