A strong economy, a vibrant innovation ecosystem
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When it comes to the economy, NSW means business.
We’re talking about a state that produced $513 billion of Gross State Product in 2017 – leading the way in Australia and outshining entire nations such as Malaysia, Singapore and Hong Kong. Additionally, NSW ranks highly in R&D investment, and finds itself in good company amongst the likes of Germany, the USA and Singapore.
Due to this exceptional business environment and a booming Fintech community, Sydney was ranked #17 in the Startup Genome Global Ecosystem Report 2017, meaning leading entrepreneurs and investors have turned their attention to the harbour city in extraordinary numbers.
However it’s not just Fintech that keeps Sydney in the spotlight. Sydney is a global centre for startups, a growing focus for venture capital and the base for the Asia-Pacific operations of heavyweights Google, Facebook, Twitter and Salesforce.
And in 2018, the Sydney Startup Hub - the largest hub of its kind in the southern hemisphere - was opened, housing over 2500 entrepreneurs and innovators from Microsoft, Stone & Chalk, The Studio, Fishburners, Tank Stream Labs, The Optus Innovation Hub and Transport for NSW’s Future Transport Digital Accelerator, just to name a few.
Right now we are witnessing a period of unprecedented exploration and technological advancement in a number of areas, and with transport being the third largest goods and services spend for Australian households, transport technology is the next cab off the rank.
With the combination of a strong economy, a vibrant innovation ecosystem and the Government actively encouraging new mobility technologies to be developed and trailed, NSW has created the ideal conditions where transport technology businesses can innovate with confidence and thrive.
NSW Future Mobility
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