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Government of South Australia - Department of State Development

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    17th Jun 2024
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    Startups and Entrepreneurs

    Adelaide’s startup ecosystem rises in global rankings

    South Australia is home to a hive of innovation and business precincts where industry, academia and government are working together to accelerate innovation, entrepreneurship, research and technical solutions to global challenges.

    The nature of these precincts – curated to focus on industries where South Australia has a competitive advantage – creates fertile ground for the state’s more than 780 startups to bring their ideas to life and take their products to the world.

    Startup Genome released its annual Global Startup Ecosystem Report during London Tech Week, one of the world’s biggest annual tech events, held earlier this month.

    The report found that Adelaide’s startup ecosystem jumped more than 25 spots in the last year in the overall rankings, making its debut in the ‘Emerging Ecosystem’ list, which showcases smaller ecosystems with high potential to become global performers.

    The ecosystem’s value has also increased by 19 per cent from last year’s report, reaching $1.9 billion, and Adelaide startups raised $146 million in early-stage funding from July 2021 to December 2023. During this period there were also three large exits of more than $50 million, contributing to its improvement in performance rank.

    Within the Oceania Ecosystem, Adelaide also ranked:

    • #3 Bang for Buck — measures the amount of runway tech startups acquire, on average, from a venture capital round
    • #5 Performance — measures the size and performance of an ecosystem based on the accumulated tech startup value created from exits and funding
    • #5 Talent and Experience — measures long term trends over the most significant performance factors.

    In a similar vein, Startup Blink’s 2024 Global Startup Ecosystem Index, released in May, showed Adelaide rose 14 places globally, up one spot nationally, and up one spot in the ranking of Australian cities.

    Learn more about Adelaide's performance

    Tribe Global Ventures

    To ensure South Australian startups can harness our growing reputation for innovation and make the most of international opportunities, the South Australian Government supported a group of early-stage, high-growth technologies startups to attend London Tech Week from 9-15 June as part of a Tribe Global Ventures UK mission:

    • Splose Pty Ltd
    • Real Time Data
    • Migrova Pty Ltd
    • LEKI Australia
    • Playground 123
    • CareApp
    • Swarmer Pty Ltd (investor)

    During the seven-day trade mission, participants had the opportunity to meet with customers, investors and partners, participate in workshops, explore export and expansion opportunities, and immerse themselves in the UK startup and innovation ecosystem.

    Tribe Global Ventures’ will conduct another trade mission to the Silicon Valley and Colorado in the US later this year.

    Learn more and apply

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