For the first time, Adelaide has been named as one of the top 100 emerging ecosystems in the Global Startup Ecosystem Report’s Emerging Ecosystem list.
Adelaide ranked as an ‘emerging’ startup ecosystem between 91 and 100 on the list announced at London Tech Week last week by US startup research and development organisation Startup Genome.
The report found from 2023 to 2024, Adelaide’s startup ecosystem increased 19% in value to $1.9 billion, leading to a jump in 25 spots in the overall Startup Ecosystem Rankings.
Adelaide startups were also shown to have raised an estimated $146 million in early-stage funding from July 2021 to December 2023. During this period there were also three large exits of over $50 million recorded.
According to the Startup Genome 2024 Ecosystem Report, Adelaide was “home to global tech giants and internationally-recognised startups” and was “thriving in multiple sectors, including renewable energy, health, agriculture, defence and space”.
In particular, the report highlighted that founders were attracted to Adelaide because of its network of innovation districts, hyperconnectivity and quality of life.
“A family-friendly city that is consistently ranked among the world’s most liveable, Adelaide offers business founders the opportunity to thrive both professionally and personally,” the report read.
“Life-work balance is a draw, with Adelaide residents able to spend less time in traffic than in larger cities, and more time enjoying the region’s top-tier wineries, restaurants, beaches and cultural events.
“The advantages of working in a smaller city are evident in Adelaide, where you’re never more than one connection away from the right research partner, investor, mentor, or customer.”
For more information about Adelaide’s startup ranking, visit the 2024 Global Startup Ecosystem Report.
