Although the world looks to Silicon Valley as a beacon for tech startups, as illustrated in the below infographic by Intuit there are a number of cities all over the world pegged as rising startup hubs.
The list (derived from the Startup Ecosystem Report 2012) names Tel Aviv as the second-hottest startup ecosystem in the world next to Silicon Valley. Sydney and Melbourne also feature on the list, with the latter city’s startups called out as being 42% more data-driven than those in Silicon Valley. Where data is apparently ‘the new black’ in the digital world, this differentiation in approach should be advantageous for local startups.
Our report ‘The startup economy’ published earlier this year, predicted that the Australian startup sector has the capacity to deliver $109 billion to the economy, with opportunities for growth in the Finance and Insurance, Manufacturing and Health Care and Social Assistance industries. Similarly to the findings below, the report identified the need for government and regulatory support to aid the growth of this sector.
The infographic also highlights an interesting correlation between cities with strong art and music cultures and entrepreneurialism… perhaps indicating that elements of creativity, imagination and artistic talent make up a part of what it takes to develop a startup?
Download a copy of ‘The Startup Economy: How to support tech startups and accelerate Australian innovation’ to find out more about Australia’s startup ecosystem.