Queensland, the startup state: Brisbane ‘growing faster’ than Sydney as founders flock north
If you were asked to pick the two biggest startup states in the country, many founders would likely default to Victoria and New South Wales, but one Aussie capital is on the path to overthrow the Sydney-Melbourne duopoly.
You’d be forgiven for assuming Australia’s two largest capitals are the country’s best startup hubs. Sydney has long been at the top of the pile, with Melbourne yapping at its heels for almost as long.
However, data from the most recent Startup Muster report has shown Brisbane (and the broader state of Queensland) has remained the second-largest city for startup founders to base their businesses for the last two years running.
And according to Techboard’s 2017 funding report, the state’s startups picked up 21% of all capital raised throughout the year, though it did come in third to NSW and Victoria.
Though Brisbane’s boom may have seemingly happened overnight, the success of the northern city should come as a surprise to few. After all, the state was the first to appoint a chief entrepreneur to oversee innovation (a role since copied by South Australia) and the state government runs a number of initiatives to not only support local startups but also attract international startups Down Under. Read more
Dominic Powell - SmartCompany - 24 October 2018