Sydney Asia Pacific #1 for startup connections

Media release | 18 April 2018

Jobs for NSW Chair David Thodey today welcomed the results of a highly respected global startup survey naming Sydney as the #1 location in the Asia Pacific, and one of the world’s top ten, for “Local Connectedness”.

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 in 45 cities — including Sydney.

“The survey shows nowhere in the Asia Pacific beats Sydney as a place where founders can best connect and build strong relationships — not Singapore, not Hong Kong, not Shanghai, and certainly no other Australian city,” Mr Thodey said.

“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.

“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,” he said.

Mr 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.”