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The startup ecosystem in Sydney is thriving and diverse, playing host to a range of tech startups, including Canva, Atlassian, and Afterpay. Sydney, being Australia's largest city has gained international recognition as a leading startup hub.
Canva, a global online design platform started its journey in Sydney in 2012. It has grown exponentially and as of 2020, the company is valued at approximately $6 billion. Similarly, Atlassian, another Sydney success story, is a leading provider of collaboration, development, and issue tracking software for teams. Following its inception in 2002, Atlassian went public in the US in 2015.
In the fintech sector, Afterpay is a notable example of Sydney's startups. Launched in 2015 it has quickly become a popular 'buy now, pay later' service, and as of 2020, has a market capitalization of over $18 billion.
The venture capital (VC) scene in Sydney is equally active. Some key players include AirTree Ventures, Blackbird Ventures and Square Peg Capital. These firms not only provide funding, but also offer business strategy advice and network introductions to startups.
AirTree Ventures, Sydney-based VC firm, has a diverse portfolio encompassing different sectors such as tech, health and education. Blackbird Ventures is another VC firm known for backing Atlassian in its early days. Square Peg Capital, while based in Melbourne, has a broad investment focus which includes Sydney-based startups as well.
In terms of initiatives, the New South Wales governmentโs Jobs for NSW program has been instrumental in fostering the startup ecosystem in Sydney. A key component of this program is the $35 million Sydney Startup Hub, which provides co-working spaces and resources for startups.
Notable Sydney-based investors include Mike Cannon-Brookes and Scott Farquhar, the co-founders of Atlassian. Both have shown great commitment to fostering the growth of technology and startups in Australia, making substantial personal investments in local startups through their private investment vehicles, Grok Ventures and Skip Capital, respectively. Their success has not only benefited them but has also generated significant momentum in Sydney's startup scene.
To sum up, Sydney has an active and flourishing startup and VC ecosystem characterized by successful examples such as Canva, Atlassian, and Afterpay. The contribution of supportive initiatives and investments by successful founders like Mike Cannon-Brookes and Scott Farquhar has further enhanced this environment, encouraging the growth and development of new startups.
Showing your skills in picking successful startups and advising founders is the surest way to build your reputation and secure a venture capital role.
Explore โYour community, region, or group thrives when its founders are given the chance to succeed before going back and reinvesting in their comunities.
Explore โEarn a share in startups you scout without the funds to invest directly just like a VC partner.
Explore โAs a podcaster, community manager, or event organiser you have a front-row seat to interesting startups which you can monetise by helping them fundraise.
Explore โBy identifying under-represented founders you're level the playing field for anyone to success based on merit independent from their social or ethnic background.
Explore โHelp your friends who are neck-deep in their startups get the funding they need to succeed.
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