The 2024 Global Startup Ecosystem Report, released earlier this month at London Tech Week, provides a comprehensive analysis of the current state of startup ecosystems worldwide.
Adelaide has featured for the first time on its Emerging Startup Ecosystems list, which showcases smaller ecosystems with the highest potential to become global performers.
The report found that from 2023 to 2024, Adelaide's startup ecosystem increased 19 per cent in value to $1.9 billion.
It also jumped more than 25 spots in the overall rankings, based on the city's tech innovation, affordable lifestyle, low-cost offices, GigCity internet and universities.
The report also acknowledged Adelaide's strength in the life sciences, space tech, AI, big data and analytic sectors within our state precincts such as BioMed City, Lot Fourteen and the Australian Space Agency.
Adelaide startups were also shown to have raised an estimated $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 recorded.
Representatives from five South Australian entrepreneurs and a local investment firm attended London Tech Week, which is the world’s biggest annual tech event.
Business founders and leaders from Real Time Data, Migrova, LEKI Australia, Playground123, CareApp and Swarmer (investor) have been supported by the South Australian Government to participate in Tribe Global Ventures’ UK trade mission.
Participant Syed Hussan, Co-Founder and CEO of Migrova, said he was eager to engage with customers and investors during this mission.
“Migrova aims to launch in the UK later this year, offering a unified platform for aspiring migrants to digitally connect with leading Australian migration agents, streamlining their migration process,” Mr Hussan said.
“London Tech Week presents an excellent opportunity to connect with potential migrants and investors before our launch.”
For more information about Adelaide’s startup ranking, visit the 2024 Global Startup Ecosystem Report.
