The 2018 Startup Muster report shows NSW is now home to nearly half - 48.8% - of Australia's startup founders after strengthening its position nationally.
In just two years, the proportion of startup founders in NSW has grown from 41% in 2016 to 44% last year and now 48.8% in 2018.
The Startup Muster report shows initiatives like the Sydney Startup Hub, which has provided the largest innovation centre of its kind in the Southern Hemisphere, are creating the right conditions for startups to thrive in NSW.
Other recent initiatives include Jobs for NSW announcing the Local Innovation Network in August, a $2.1 million commitment to develop regional entrepreneurs and support regional startups and small to medium enterprises (SMEs) across the state.
In Western Sydney, a $5 million Western Sydney Investment Attraction Fund has been announced to supercharge fast-growing small to medium sized businesses.
With another major tech precinct now being planned between Central and Eveleigh, NSW’s startup sector is expected to keep going from strength to strength, attracting the brightest and the best and creating the jobs and businesses for the future.
The data from this year’s Startup Muster report was based on responses from 777 startup founders, 321 future founders and 1,056 startup supporters.
Sydney is ranked among the world’s top-20 startup ecosystems, alongside other Asia-Pacific hubs including Beijing, Shanghai and Singapore.