Australia

Sydney

Late-Globalization Phase

At the University of Technology Sydney, we see technology and entrepreneurship as Australia’s future. We’re fostering the next generation of entrepreneurs who will transform our economy and secure our global position.

Professor Margaret Maile Petty

Executive Director, Innovation and Entrepreneurship, University of Technology Sydney

Sub-sector Strengths

Fintech

Sydney’s financial industry accounts for 9% of national GDP, larger than Hong Kong and Singapore. Brighte, an interest-free home improvement platform, raised $29 million in Series B venture funding in 2018. Lendi, a home loan matching platform, raised $40 million from ANZ in 2019.

Edtech

Sydney-based Smart Sparrow, an online learning design platform, raised $11.5 million in Series C funding in 2018. OpenLearning, a social-learning platform, raised $6.4 million of venture funding in 2018.

Why you should invest in Sydney

SOFTWARE STARTUP OUTPUT

1.5k-2.1k

GLOBAL AVG.

1,010

ECOSYSTEM VALUE

$7.4 bn

GLOBAL AVG.

$5 bn

Top 10 Global Ecosystem

Connectedness

Top 15 Global Ecosystem

Fintech

Exit Growth
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Output Growth
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Funding Growth
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Reasons to move your startup to Sydney

EARLY-STAGE FUNDING PER STARTUP

$258 k

GLOBAL AVG.

$284 k

TOTAL EARLY-STAGE FUNDING

$465 m

GLOBAL AVG.

$837 m

SOFTWARE ENGINEER SALARY

$62.4 k

GLOBAL AVG.

$58.3 k

Tax Credits

Sydney offers a tax incentive refund of 43.5% for R&D costs.

Grants

The Minimum Viable Product Grant matches up to 50% of total development costs. Accelerating Commercialisation grants cap at $1 million and Building Partnerships grants help revenue-generating SMEs scale through acquisitions.