How Sydney is transforming one of the world’s most powerful cities for innovation

- June 14, 2022 3 MIN READ
Amy Brown
Investment NSW CEO Amy Brown
Sydney is rapidly transforming into the world’s innovation engine as the city’s Tech Central becomes the home of our thriving technology sector and the place for bold businesses to invest.

This Tuesday (June 14), I’ll be joined by some of the brightest, boldest minds in business at Investment NSW’s 2022 Tech Central Summit to discuss opportunities to become part of Australia’s fastest-growing tech ecosystem.

Business juggernauts, business chambers, consulates, councils and universities will join us as we showcase the opportunities on offer to global and local businesses and collaborators across what is fast becoming the world’s most inclusive and diverse innovation district.

The economy of the future is right here in New South Wales and we’re signalling to the world that we’re open for business.

NSW is Australia’s largest state economy and home to the country’s largest technology workforce of 314,000 – a workforce that saw growth of more than 10 per cent in 2020 alone.

Sydney is the top-ranked startup ecosystem in the southern hemisphere and the ninth most attractive city in the world for digital experts.

We have 2,000 active startups in the state, including some of the nation’s most successful multinationals.

We have something for everyone, and our diversity is one of our strongest selling points as a state. Put simply, NSW is warm and welcoming to all – a home to diversity, with 275 diverse languages spoken across the state.

It’s safe to say that if you’re a technology business or startup with big ambitions, NSW is the destination to help you drive growth and deliver goals.

Sydney is where ambitious businesses go to drive outcomes, develop careers, create skilled jobs and provide training to our brightest minds – as well as attracting top-tier talent from overseas.

The NSW Government has worked hard and collaboratively with industry to strengthen the technology and innovation ecosystem to make our state more attractive to companies with an eye on the region. Sydney’s Tech Central will become the heart of this.

Sydney is ranked 11th as a global fintech hub and is ranked as having the lowest risk from cybercrime. Australia as a nation has a $7.6bn forecast cyber security spending in 2024.

Almost half of Australia’s cyber workforce (40 per cent) are founded in NSW, with over 200 cyber security businesses calling our wonderful and prosperous state home.

But we aren’t stopping there – cyber security is front of mind for the NSW Government, which has committed $240m to boost the state’s cyber security resilience.

Businesses considering investing in Sydney can be assured NSW is safe and secure.

We are becoming the envy of the world, with Tech Central acting as Australia’s biggest and boldest technology district, bringing together innovators, researchers and entrepreneurs in Sydney – the nation’s financial capital – to collaborate and develop the innovative solutions and ideas the world is seeking.

Our brilliant city of Sydney fosters the unicorns of the future and we as a government support specialised technology focused on areas including cybersecurity, biosecurity and the future of healthcare.

Be bold, bright & collaborative.

This is how we bounce back from the COVID-19 pandemic – by being bold, bright and collaborative.

By backing our businesses and attracting the best from overseas. By putting ourselves on the map and showcasing what our great state and cities have to offer for established businesses as well as ambitious startups and scaleups. By spearheading jobs growth through daring collaboration and investment.

And the work we’ve done is paying off. Sydney is now ranked as one of the world’s top 25 global startup ecosystems, with NSW globally renowned for tech innovations born out of our ambitious ecosystem developed over the last 25 years.

Our state’s tech ecosystem is a place where world-class universities, ambitious startups, scaleups, high-tech giants and the community come together to collaborate to solve problems and spark ideas that change the world.

With the help of Tech Central, Sydney will become a vibrant and explosive force in the heart of our nation as it firmly establishes itself on the world stage.

All of this opportunity is happening in one of the world’s greatest places to live, right here in NSW. Our state’s bustling metropolises, breathtaking beaches and vast landscapes offer something for everyone.

We offer strong security for people and business, and our legal, regulatory and political environment makes us a safe and stable place to live and work.

Whether you’re looking to help the newest wave of startups take off or seeking to expand your business in the Asia Pacific, we welcome you and look forward to helping you grow with us.