The next generation of startups could come from rural Australia

The next generation of startups could come from rural Australia

While Sydney and Melbourne still rank first and second as Australian cities with the best start-up ecosystems, all Australian states have invested more money in recent years to boost local start-up hubs, such as Byron Bay, Newcastle, Wagga Wagga and Bathurst. in New South Wales; Geelong, Latrobe and Mildura in Victoria; and Noosa, Ipswich and Rockhampton in Queensland.

During the pandemic, more than 11,000 Australians moved out of Australia’s capitals in the September 2021 quarter alone, as the ubiquity of remote work allowed people to seek more affordable housing outside capital cities.

Main Sequence Ventures partner Phil Morle in 2018.Credit:christopher pearce

Morle acknowledged that tempting some to work in regional or rural areas was a “chicken and egg” challenge, but downplayed it as an obstacle, saying workers in those communities would want to stay there.

“The final state, however, [is] that is precisely where you will go, because that is where those jobs are,” he said. “A lot of people who have the skills aren’t prominent entrepreneurs, they’re people who work for a coal mining company right now and are just amazing engineers, and they live in Mackay or Orange. They are there, and we have to keep them there.”

Australia’s technology sector overall contributes around $167 billion or 8.5 percent of Australia’s GDP, according to an August 2022 report from the top industry body Tech Council.

Key industry heavyweights from the agricultural sector have been pushing for Australia to invest more in local food manufacturing facilities to create bigger profit streams from new industries such as plant-based protein, warning against over-reliance on the sale of raw materials such as beef and wheat.

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