The Sydney government wants to boost startups as it's a key part of the city’s economy, according to Deputy Lord Mayor Robyn Kemmis.
“The city will continue to identify opportunities for creative enterprises, and in particular technology startups,” Kemmis said in a keynote at the SydStart conference.
“We do recognise their signal presence in the new economy and recognize they play a critical role in the Sydney’s economy and its innovative community.”
Kemmis pointed to a figure in a recent report on tech startups by Google and PricewaterhouseCoopers that showed 64 per cent of Australian startups are located in Sydney.
“The signs of healthy growth in the [ICT] industry suggests that the city’s location, our infrastructure, the nature of our built environment and access to educational and financial institutions are combining to attract new businesses and support existing businesses.”
SydStart founder Pete Cooper also pointed to signs of growth in Sydney’s startup ecosystem. He highlighted the Google report’s finding that Australia’s startup scene could add $109 billion to the economy and 540,000 new jobs over the next 20 years.
Cooper said there has been an “explosion” in the number of startup incubators and co-working spaces in the city. A new community action group by Google, #startupAUS, and an increase in the number onshore hosting services, including from Amazon and Microsoft, also support growth of Australia’s startup scene, he said.
In addition, Cooper said he sees a new trend of “multi-national startups” in Sydney. These businesses, including driver service Uber and entrepreneurism educator General Assembly, are contributing to an increasingly competitive environment, he said.
“If you’re not the leader in your space, other startups can take your spot,” warned Cooper.