How does Aus measure up: Startup Genome
If you’ve read the earlier article about how NZ ranks, you might be interested to see where Australia’s key ecosystems land.
Waning political focus on innovation and a lack of funding for early-stage startups have seen Australian cities slip in the Startup Genome global rankings.
The Startup Genome Ecosystem Report 2019 has seen Sydney drop six places compared to the last report in 2017, from 17th place to 23rd. Melbourne didn’t make it onto the top-30 table at all.
Melbourne was, however, named as a ‘challenger’, or an ecosystem with the potential to make the top 30 within the next five years.
The findings were, however, contrary to those of the StartupBlink Startup Ecosystem Rankings 2019 report, which named Australia as the fifth-most startup-friendly country in the world.
The Startup Genome report bases startup ecosystems in terms of their value — output, exits and success — as well as on things like funding, connectedness, knowledge and talent base.