New South Wales is the startup capital of Australia with almost half of Australia’s startups here according to the new NSW Innovation and Productivity Scorecard.
NSW has a strong economy, a highly educated and entrepreneurial workforce and ranks second only behind California for our digital capability index – the measure of how widely businesses are using leading digital technologies that are associated with high growth.
Research undertaken by CSIRO Data 61 for the 2018 Scorecard showed almost one in five (17.9%) of NSW businesses on LinkedIn are using growth technologies including cloud productivity apps, search engine optimisation tools and services, and websites designed for mobile usage as well as desktop.
The report compares NSW’s performance against a range of international jurisdictions including Canada, Germany, New Zealand, Singapore, the United States, the United Kingdom, and the Australian states of Victoria and Queensland.
NSW performs above average compared to international jurisdictions in education based on the number of top 1% papers cited and the number of top 200 universities. It also has higher venture capital investment, startup founders – third only behind California and Singapore – and growth firms compared with our overseas competitors.
NSW is Australia’s largest economy with strengths in financial services, education, tourism and a strong primary sector with agriculture and mining. With a GDP of $391 billion (2018) NSW accounts for almost one third of Australia’s GDP.
We are leading the way in innovation.