Australia

Adelaide

MEMBERS:
Department for Industry, Innovation and Science (DIIS) The Department for Trade and Investment Adelaide Economic Development Agency (AEDA)

"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, MyVenue
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Highlights

South Australia’s capital city Adelaide boasts a vibrant events calendar, food and small bar scene, and proximity to world-class wine regions and beaches. However, it’s increasingly the business community that’s making headlines. Home to global tech giants and internationally-recognized startups, Adelaide is thriving in multiple sectors, including renewable energy, health, agriculture, defense, and space.

Recognizing the need for greater diversity in the startup sector, in March 2024 the South Australian Government partnered with Women in Innovation and the Fearless Females Network to launch a new grant program supporting female business founders to access capital and grow their startups into global enterprises. The Government of South Australia’s Seed-Start grants provide early-stage startups with between $50,000 and $500,000 of matched funding to help them commercialize an innovative product or service.

In January 2024, Flinders University launched the first-of-its-kind Graduate Diploma in Entrepreneurial Growth designed to guide graduates and postgraduates seeking to launch a startup. The Australian Government established Startup Year in 2024 to support students’ participation in startup courses at Australian higher education providers, encouraging innovation and supporting the startup community. Supported by the South Australian Government, a cohort of PhD students is currently completing the Industry Doctoral Training Centre program to specialize in biomanufacturing, matching their studies with industry experience and mentorship.

In March each year, business founders and leaders from across Australia converge on Adelaide for _SOUTHSTART, which in 2023 was ranked the nation’s #1 event for the startup, tech, and innovation community.

Ecosystem by the Numbers

ECOSYSTEM VALUE
(H2 2021 - 2023)
$2 bn
GLOBAL AVG. $29.4 bn
TOTAL EARLY–STAGE FUNDING
(H2 2021 - 2023)
$147 m
GLOBAL AVG. $655 m
ECOSYSTEM VALUE GROWTH
(H2 2021 - H2 2023 VS H2 2019 - H2 2021)
89%
89% 89 100 46% 46 52 0
GLOBAL AVG. 46%
NUMBER OF UNICORNS
(H2 2021 - 2023)
0
GLOBAL AVG. 3
MEDIAN SEED ROUND (H2 2021 - 2023)
$1.3 m
GLOBAL AVG. $985 k
MEDIAN SERIES A ROUND (H2 2021 - 2023)
$3.5 m
GLOBAL AVG. $7.5 m
SOFT. ENGINEER SALARY (2023)
$60 k
GLOBAL AVG. $47 k
EARLY-STAGE FUNDING GROWTH (2020-21 VS. 2022-23)
7
Scale of 1 (lowest) to 10 (highest)
TOTAL VC FUNDING (2019 - 2023)
$299.8 m
GLOBAL AVG. $4.6 bn
TIME TO EXIT (2019 - 2023)
11.6 years
GLOBAL AVG. 10 years
EXIT AMOUNT (2019 - 2023)
$1 bn
GLOBAL AVG. $8.9 bn
EXIT COUNT (#)
(2019 - 2023)
25
GLOBAL AVG. 80
7
5
5
5
3
2019
2020
2021
2022
2023

Sub-Sector Strengths

Life Sciences

Adelaide is a premiere hub for global Life Sciences companies, with strong industry investment into research and development, clinical trials, manufacturing, and sales and marketing. Adelaide BioMed City is a $3.8 billion innovation district where leading medical research is translated by industry for high-impact community health and economic benefit. In 2023, South Australian company BioCina was awarded $5 million to expand its facility in Adelaide to manufacture mRNA-based vaccines and therapies, and in February 2024, construction began on the $100 million Noumed Pharmaceutical plant.

SpaceTech

Home to the Australian Space Agency, the $245 million SmartSat Cooperative Research Centre, and more than 100 space companies, Adelaide is Australia’s space capital. In March 2024, more than $9 million was awarded to Australian Spacetech startups as part of the Moon to Mars Supply Chain Capability program, including a $1 million grant to Adelaide’s Neumann Space, an electric spacecraft propulsion startup. In May 2023, Spacetech firm Fleet Space Technologies closed a $50 million Series C.

AI, Big Data & Analytics

Based at innovation district Lot Fourteen, The University of Adelaide’s Australian Institute for Machine Learning collaborates with industry, government, and businesses to develop high-tech products and solutions in AI, machine learning, computer vision, and deep learning. Leading AI and machine learning specialist Trellis Data announced in February 2024 that it is opening its first Australian office in Adelaide. In April 2023, AI startup Fivecast secured a $30 million Series A for its cybersecurity analysis platform.

Reasons to Move Your Startup to Adelaide

Network of Innovation Districts

Adelaide’s innovation districts provide a network of dedicated spaces with the physical, digital, and social infrastructure required to accelerate new ideas into widespread economic outcomes. Lot Fourteen, Tonsley Innovation District, and Adelaide BioMed City, among others, work to foster the future workforce, support the development of new-to-world products and services, solve complex problems, and strive for enhanced environmental outcomes.




Hyperconnectivity

The advantages of working in a smaller city are evident in Adelaide, where you’re never more than one connection away from the right research partner, investor, mentor, or customer. This hyperconnectivity has served local startup founders well, many of whom have used Adelaide as a friendly testbed for their global products and services.

Quality of Life

A family-friendly city that is consistently ranked among the world’s most liveable, Adelaide offers business founders the opportunity to thrive both professionally and personally. Life-work balance is a draw, with Adelaide residents able to spend less time in traffic than in larger cities, and more time enjoying the region’s top-tier wineries, restaurants, beaches, and cultural events.

Selected Startup Organizations

Startup Genome Members

Key Ecosystem Players

News from the Ecosystem

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