2022 | StartupBlink View the Global Startup Map p. 81 Brisbane, Perth and Sunshine Coast have pulled the national rankings up this year. Brisbane advanced by 11 spots and ranks 101st in the world, getting closer to the world's top 100. Perth increased by 9 spots to rank 166th while Sunshine Coast increased by 6 places and consolidated its position in the global top 300. Adelaide, Canberra, and the Gold Coast lost momentum in the Index but maintained their position nationally. In addition, we would like to congratulate Adelaide for entering the Healthtech rankings for the first time. Despite Australia’s overall increase in rankings, the country has only 8 cities in the global top 500 compared to 10 last year. On the other hand, with the debuts of Byron Bay, Geelong and Launceston, the country has a total of 15 ranked startup ecosystems in the top 1000, versus 12 last year. Australia will need to continue building momentum to completely recover from its ongoing decline in rankings. While the country does relatively well in the Quantity and Business score, more attention should be paid to creating higher impact startups, allowing Australia to challenge Singapore and keep away its closest contender, France. Startup Ecosystem Overview Australia has a solid startup ecosystem, with a few of the country’s startups becoming well known global brands, such as Canva and Atlassian. Investment in the startup scene is growing: 2021 was a record year and 2022 seems to continue this trend. Considering how fast other nations are developing their startup hubs, Australia needs this influx of funding for more inspiring startups to scale globally. While the country has a fairly small population considering the country's geographical size, the consumer market is growing; on top of this, Australia manages to attract people from overseas both as tourists and as residents. Australia enjoys a smart and proactive approach from its federal and state governments, both supporting the growth of its startup ecosystems. For instance, Australia now offers a Provisional visa for Business Innovation and Investment, a measure that will allow startup entrepreneurs to stay in the country for up to 5 years. Another advantage we have witnessed in Australia is the direct involvement of universities as active stakeholders in the development of the city ecosystems, which adds to the inertia of creating an entrepreneurial culture and forges connections that improve funding and opportunities for startups. The time zone difference and the traveling time between Australia and the United States and Europe creates challenges for partnerships, sales teams, and integrated remote teams. On the other hand, opportunities are coming in from Asian markets which operate within similar time zones and are in relatively close proximity. All in all, Australia has several factors that make a thriving startup scene: a talented and educated workforce, investment, and an entrepreneurial spirit.