Zoom in on Queensland’s startup ecosystem
Startups in Queensland are now worth more than AUD13.2B (US$9.9B) in combined enterprise value. Back in 2017, the same ecosystem was worth AUD1.9B (US$1.4B). It grew 6.9x in the last five years. Like many tech hubs around the world, Queensland’s innovation economy experienced a significant boost.
Last year alone, breaking all previous records, Queensland startups snatched AUD1.7B (US$1.3B), led by mega-rounds. Most noteworthy, simPro who raised US$350M for their field service management solution, Go1 who raised US$200M in their latest series D for their professional digital learning solution, and Octopus Deploy who, after almost a decade of bootstrapping raised US$172.5M back in April 2021.
As the ecosystem matures, measuring its entrepreneurial vibrancy and overall performance has become increasingly important. Today, Advance Queensland, an initiative delivered by nine Queensland Government departments working in partnership with industry, businesses, universities, startups, investors and the Queensland Chief Entrepreneur introduces a new startup database to track their innovation economy. The new platform, powered by Dealroom, provides data and intelligence on startups, innovation, investors, funding rounds, and more in the Australian Northeastern’s state.
Emerging sectors with global growth potential
Today’s Queensland tech ecosystem counts a little over 950 innovative and tech companies. During the last two years, more than 200 new startups, and the ecosystem saw the rise of 4 new unicorns.
To diversify its economy and create the knowledge-based jobs of the future, Advance Queensland is driving innovation-led economic growth through increased collaboration in industries as varied as biomedical, security, aerospace or agriculture and food.
This new platform also offers deep dives into different fast-growing and promising startups, in industries such as fintech, and deep tech or healthtech. Finally, the database shines a light on overarching trends and headline figures as well as detailed data on startups, scaleups, and corporates in the region.