One-fifth of Australia’s start-ups are based in Queensland, making it the country’s second-most popular location for innovative businesses, according to the latest Startup Muster report.
Startup Muster 2017 collated data from more than 1,000 early-stage businesses working in the field of emerging technology and other innovations.
The report found that Queensland was home to 20.8% of the start-ups surveyed, with 15.2% in Brisbane and 5.6% in other Queensland locations.
This was well ahead of Victoria at 14.4%, and second only to New South Wales, which was home to 44% of the start-ups surveyed.
Other key findings from the report included:
- QUT and University of Queensland were both in the top 10 educational institutions attended by survey respondents
- 35.7% of start-up founders were born outside of Australia
- 16.1% of start-ups had attracted overseas investment, and almost 30% had received some kind of grant or scholarship
- the five most common sectors for start-ups were fintech, education, internet of things, artificial intelligence, and media and marketing.
Supporting Queensland start-ups is one of the actions identified in the Queensland Trade and Investment Strategy 2017–2022.