Despite the pandemic, fintechs are growing as the pace of digital transformation picks up. The Australian fintech ecosystem is well placed after Open Banking went live on 1 July 2020, and Sydney remains the capital of fintech in Australia with over 50% of fintechs domiciled in New South Wales
Cybersecurity startups in Sydney are supported by a range of government programs and initiatives including a $240 million investment into the sector announced by the NSW Government in June 2020, the NSW Cyber Security Innovation Node to drive cyber sector growth, a Women in Cybersecurity initiative by TechSydney aimed at increasing participation of women in the field, and a Cyber Voucher program launched in 2019 by the NSW government providing R&D grants up to AUD $15,000. Cloud Conformity, a cloud security platform, was acquired for $70 million and Secure Code Warrior, a secure coding platform, raised $47.6 million in a Series B round in 2019.
Why you should invest in Sydney
Reasons to move your startup to Sydney
Growing Innovation Districts & Incentives for Co-location
Sydney Startup Hub - the first of its kind in the country housing over 1800 residents -, and Tech Central, which will soon be Australia’s biggest technology hub with a commitment of $48.2 million in funding by NSW Government, have positioned Sydney as an epicenter of innovation and collaboration.
Access to Talent
Sydney’s startup ecosystem fares strongly on Startup Genome’s Global Talent Ranking 2020, coming in at #24, while the State is home to two Top 50 universities and more than 160,000 STEM graduates, the highest number of any Australian State.
By taking a balanced approach to the health risk of COVID19 and its impact on business, the NSW Government has built on Australian Government initiatives to counter the economic impact of COVID19. To support NSW's economy, the Government will provide $1.6 billion in tax cuts and job creation measures.
NSW Treasury leads the economic, jobs and investment conversation across New South Wales (NSW). Its work includes boosting trade, investment and tourism, developing industry, supporting jobs growth, improving service delivery to the community and increasing living standards, now and into the future.
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