Australia

Sydney

#26

Global Startup Ecosystem

 #1

Oceania ECOSYSTEM
Members: Investment NSW

#1

Oceania Ecosystem in AI-Native Cluster

#1

Oceania Ecosystem in Talent Strength

#1

Oceania Ecosystem in R&D Engine
Sydney is building an innovation economy of global significance, anchored by Tech Central – Australia’s innovation engine — connecting entrepreneurial talent, research excellence, and industry to accelerate growth, productivity, and world- leading innovation.
Rebecca McPhee
Rebecca McPhee
Deputy Secretary, Investment NSW

Highlights

Sydney is one of the most dynamic and globally-connected innovation regions in the Asia–Pacific. As Australia’s largest economy, the city combines scale, diversity, and economic resilience with world-class talent, strong migration pathways, and sustained international investment. These strengths have enabled Sydney to consistently produce globally-competitive technology companies and position itself as a leading gateway to international markets. 

At the heart of this regional ecosystem is Tech Central, Sydney’s primary center of gravity for innovation. Located in the CBD and surrounding precincts, Tech Central anchors a $42 billion economy and supports more than 100,000 workers across startups, scaleups, research institutions, and global technology firms. The district brings together dense concentrations of talent, research capability, capital, and industry, creating a highly-networked environment that accelerates company formation, commercialization, and global scaling. Targeted NSW Government investment and strategic coordination have strengthened Tech Central’s role as a focal point for collaboration and international engagement. 

Sydney’s innovation capacity is further reinforced by its universities — including UNSW Sydney, the University of Sydney, Western Sydney University, Macquarie University, and the University of Technology Sydney — which play a critical enabling role across research, talent development, and commercialization. University-led entrepreneurship and translational research programs continue to feed high-quality spinouts and Deep Tech capability into the broader ecosystem. Since 2018, UNSW Founders accelerator programs alone have supported more than 60 startups that have raised approximately $70 million, created over 175 jobs, and generated more than $250 million in enterprise value. 

Beyond the CBD, Western Sydney is emerging as a major engine of innovation-led growth, complementing Tech Central’s density with geographic reach and sectoral depth. The Western Sydney International (Nancy Bird Walton) Airport, opening in 2026, and its co-located Aerotropolis will establish a new 24 hour international gateway and high-tech economic precinct spanning Advanced Manufacturing, Aerospace, Logistics, and Health Innovation. Together, these assets extend Sydney’s innovation footprint and strengthen its position as a globally-competitive, future-focused innovation region.

Ecosystem by the Numbers

ECOSYSTEM VALUE

A measure of economic impact, calculated as the value of exits and startup valuations from H2 2023–2025. Ecosystem Value includes all active unicorns.
(H2 2023 - 2025)
$59.7 BN
GLOBAL AVG. $25 BN
REGIONAL AVG. $5.6 BN

ECOSYSTEM VALUE GROWTH

Growth is calculated based on the Ecosystem Value from H2 2018–2020 vs. H2 2023–2025.
(H2 2018 - 2020 VS. H2 2023 - 2025)
183%
GLOBAL GROWTH 149%
REGIONAL GROWTH 155%

AI-Native Ecosystem Value

A measure of economic impact, calculated as the value of exits and startup valuations from H2 2023–2025 for AI-Native. Ecosystem Value includes all active unicorns.
(H2 2023 - 2025)
$4.1 BN
GLOBAL AVG. $4.4 BN
REGIONAL AVG. $720 M

AI-Native Ecosystem Value Growth

Growth is calculated based on the AI-Native Ecosystem Value from H2 2021–2023 vs. H2 2023–2025.
(H2 2021 - 23 VS. H2 2023 - 25)
5%
GLOBAL GROWTH 161%
REGIONAL GROWTH 22%

EARLY-STAGE FUNDING GROWTH

Early-Stage Funding Growth is based on number of Seed and Series A rounds raised between 2022-2023 vs. 2024-2025 and calculated on a scale of 1 (lowest) to 10 (highest).
(2022-23 vs. 2024-25)
5
Scale of 1 (lowest) to 10 (highest)

AI-Native Early Stage Funding Growth

AI-Native Early-Stage Funding (ESF) Count Growth Tier evaluates the growth in the number of Early-Stage Funding rounds between 2022–23 and 2024–25. Ecosystems are scored on a scale from 1 to 10, where 1 represents the lowest growth and 10 represents the highest.
(2022-23 vs. 2024-25)
7
Scale of 1 (lowest) to 10 (highest)

TOTAL VC FUNDING

The Total VC funding (Seed, Series A, Series B+) in tech startups in 2021–2025.
(2021 - 2025)
$12 BN
GLOBAL AVG. $5 BN
REGIONAL AVG. $1.5 BN

TOTAL EARLY–STAGE FUNDING

The total Seed and Series A funding in tech startups in H2 2023–2025.
(H2 2023 - 2025)
$1.5 BN
GLOBAL AVG. $554 M
REGIONAL AVG. $202 M

EXIT AMOUNT

The total value of exits from the ecosystem.
(2021 - 2025)
$11 BN
GLOBAL AVG. $7.6 BN
REGIONAL AVG. $1.9 BN

EXIT COUNT (#)

The number of exits from the ecosystem.
(2021 - 2025)
434
82
2021
90
2022
86
2023
84
2024
92
2025
GLOBAL AVG. 103
REGIONAL AVG. 129

TIME TO EXIT

The average age at the time of exit in the ecosystem in 2021–2025.
(2021 - 2025)
11 YEARS
GLOBAL AVG. 11.1 years
REGIONAL AVG. 10.4 YEARS

NUMBER OF UNICORNS 

The number of startups that meet our definition and have been valued at more than $1 billion and have not exited.
(ACTIVE UNICORNS)
8
GLOBAL AVG. 11
REGIONAL AVG. 3

MEDIAN SEED ROUND

The median of seed rounds in tech startups in the ecosystem in H2 2023–2025.
(H2 2023 - 2025)
$747 K
GLOBAL AVG. $1 M
REGIONAL AVG. $582 K

Median Series A Round

The median of Series A rounds in tech startups in the ecosystem in H2 2023–2025.
(H2 2023 – 2025)
$8 M
GLOBAL AVG. $6.2 M
REGIONAL AVG. $7.6 M

Top Funded Startups

Top startups identified based on funding amount from July 2023 to December 2025.
(H2 2023-2025)
1: Firmus
2: Employment Hero
3: Advancell
4: Harrison.ai
5: SafetyCulture

SOFT. ENGINEER SALARY

Average software engineer salary informed by data from Glassdoor, Salary.com, and PayScale, as well as local sources when available.
(2025)
$103 K
GLOBAL AVG. $54 K
REGIONAL AVG. $51 K

Sub-Sector Strengths

Artificial Intelligence
Artificial Intelligence

Sydney is rapidly becoming a magnet for leading global AI firms including OpenAI, Mistral AI, and Anthropic. These companies are establishing a strategic presence in the city, positioning Sydney as a launchpad for their Asia–Pacific expansion. The region benefits from dedicated AI-ready infrastructure, including data centers, cloud computing availability, and strong industry partnerships. An expanding cohort of AI-Native startups, operating across enterprise AI, creative applications, Cybersecurity, and developer tooling, is drawing increasing international interest and cross-border engagement. In August 2025, the New South Wales Government announced additional funding under its Digital Restart Fund to scale AI-enabled public sector services.

Quantum Technologies
Quantum Technologies

Sydney hosts one of the world’s leading Quantum clusters, anchored by Quantum Australia and home to firms such as Silicon Quantum Computing, Diraq, Emergence Quantum, and Q-CTRL. Backed by sustained national and international investment, strong research infrastructure, and cross-sector partnerships, the city is a global player in Deep Tech commercialization. In 2025, the University of Sydney announced new partnerships to translate Quantum research into commercial applications. In September 2025, the Australian Government reaffirmed support for Quantum commercialization under its National Reconstruction Fund priority areas.

Medtech & Life Sciences
Medtech & Life Sciences

Sydney is a premier hub for MedTech and Life Sciences, home to 55% of Australia’s Life Sciences companies and generating 35% of national MedTech revenue through a $4.8B sector employing ~7,000 people. Expansion of advanced biomanufacturing capability drives growth, led by the NSW RNA Research and Manufacturing Facility and anchored by NSW Government’s $135M investment in Australia’s first GMP‑compliant Viral Vector Manufacturing Facility, strengthening end‑to‑end pathways for gene therapy research, clinical translation, and commercialization. Robust clinical trials capacity, university‑led commercialization, NSW Health’s Medical Devices Fund, and UNSW’s $35 M commitment to accelerating spinouts further bolster the ecosystem.

Selected Startup Organizations

Startup Genome Members

MEMBER

Investment NSW is the NSW Government’s economic development agency, driving growth, innovation, and global investment by connecting business, government, and international markets. It serves as the primary entry point for international companies, supporting market entry, expansion, major investments, and export growth across priority sectors and innovation precincts. Through its global office network, it promotes NSW’s capabilities in technology, manufacturing, and research. Investment NSW leads delivery of the NSW Innovation Blueprint 2035 and aligns with the NSW Industry Policy, advancing missions in housing, net zero, energy transition, and local manufacturing to strengthen competitiveness, resilience, and globally-scaled innovation.

Work with us

If you are interested in working with us to drive global attention to your ecosystem, please get in touch with Marina Krizman, Director of Business Development.

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