Unicorn farm: Australia produces more billion-dollar startups per VC dollar than any other country
It’s a startup ecosystem cliché that Australia punches above its weight in tech, but new research lends weight to the claim.
It's a startup ecosystem cliché that Australia punches above its weight in technology. New research lends weight to this oft-repeated claim and suggests that not only is Australia a world beater in producing ultra-valuable tech companies, but that it also in desperate need of more early-stage capital to capitalise on that prowess.
A fresh report by AWS and Side Stage Ventures analysing global Dealroom data found Australia creates more unicorn startups per venture dollar invested than any other country in the world.
Side Stage general partner Ben Grabiner said the report highlights the resourcefulness of Australian founders, but also demonstrates demand for local venture capital greatly exceeds supply.
“If you look to the US you’ve got thousands of great seed funds, if you go to Europe you’ve got hundreds of great seed funds,” Grabiner told Capital Brief. “If you look to Australia, there’s a fraction of what you have overseas.”
