Department for Industry, Innovation and Science, The Department for Trade and Investment, and the Adelaide Economic Development Agency have teamed up with Startup Genome to spotlight Adelaide’s entrepreneurial ecosystem in the Global Startup Ecosystem Report:

• The ecosystem created $1.9 billion in Ecosystem Value from Jul 01, 2021 to Dec 31, 2023, representing 89% compound annual growth compared to Jul 01, 2019 to Dec 31, 2021 time period. Ecosystem Value is a measure of economic impact, calculated as the value of exits and startup valuations.

• The Ecosystem’s Value has increased by 19% from last year, reaching $1.9 billion.

• Within the GSER 2024 time range, the ecosystem has seen three large exits over $50 million, helping it improve its performance rank.

• Startups within the ecosystem have raised $146 million in early-stage funding from July 2021 to December 2023.

• Increase in Ecosystem value, early-stage funding and large exits are helping the ecosystem to enter the Top 100 Emerging Ecosystems this year.

• Adelaide has increased more than 25 spots in this year, and has now entered the Emerging Ecosystems Ranking in the 91-100 group, having not been in the Emerging rankings last year.

• #1 Oceania Ecosystem in Affordable Talent — measures the ability to hire tech talent

• #3 Oceania Ecosystem in Bang for Buck — measures the amount of runway tech startups acquire, on average, from a VC round

• #5 Oceania Ecosystem in Performance — measures the size and performance of an ecosystem based on the accumulated tech startup value created from exits and funding

• #5 Oceania Ecosystem in Talent & Experience — measures long-term trends over the most significant performance factors

• Top 10 Oceania Ecosystem in Knowledge — measures innovation through research and patent activity

• Top 10 Oceania Ecosystem in Funding — measures innovation through early-stage funding and investor’s activity

• The Life Sciences, Spacetech, and AI, Big Data & Analytics sectors are highlighted for their density of talent, support resources, and startup activity

• A network of innovation districts, hyperconnectivity and quality of life are cited as reasons a startup should move to the ecosystem

“Adelaide offers founders the perfect environment to fuel global ambition. From an affordable lifestyle, low-cost offices, GigCity internet, and universities that produce amazing graduates, it’s no wonder Adelaide is a shining star in tech innovation.” — Tim Stollznow, CEO of MyVenue

"Startup Genome is delighted to join forces with the Department for Industry, Innovation and Science, The Department for Trade and Investment and the Adelaide Economic Development Agency in advancing entrepreneurial-based economic expansion," states Marc Penzel, Founder & President of Startup Genome. "Our data-driven insights empower the bold aspirations of Adelaide's visionary policy leaders."