The problem with start-ups clustering in capital cities
Imagine if tens of thousands of entrepreneurs launched their venture in a regional centre instead of an east coast capital in the next decade. Instead of starting in Sydney or Melbourne, they relocated to Newcastle, Geelong or Ipswich.
If a fraction of these start-ups flourished, the regional centre would in time have hundreds of high-growth ventures in emerging industries – ventures that create jobs and wealth for regional communities and draw workers and their families from capital cities.
I considered entrepreneurship’s role in population planning amid news this week of Australia reaching 25 million residents. I see potential for a co-ordinated network of regional innovation clusters that compete with capital cities for high-growth start-ups.
Yes, entrepreneurship is only a small part of the population puzzle, but if governments are serious about encouraging people to move from the cities, we need a jump in higher-paid, knowledge-economy jobs in the regions. That’s where entrepreneurship comes in. Read more
Tony Featherstone - Brisbane Times - 9 August 2018