The Australian Government has released Startup Muster 2016, its annual report on Australia’s startup sector
The report looks at the who, why and where of Australian startups with over 2,700 respondents to the Startup Muster survey across Australia. Almost 2,000 of those were startups or potential startups.
While most startups are located in capital cities, the report revealed that over 23% of startups are outside of capital cities Australia wide. Just over 6% of Australian startups are in regional NSW.
With the completion of the nbn rollout expected with the next 2 years, regional NSW has a great potential for regional startup growth. High speed internet connectivity was of high benefit for 24% of respondents. How many found the lack of high speed broadband a barrier is unclear, however reliable access to fast connectivity is likely to be a key enabler for regional startups.
The report also revealed a high level of co-working amongst startups with 72% of startups using co-working and over 50% of these using co-working full time.