The global race for innovation and startups is accelerating, driven by growing geopolitical tensions and stricter regulations. Cities and regions worldwide are ramping up efforts to strengthen their startup ecosystems and gain global recognition. Meanwhile, “innovation hunters” — venture capital funds and large corporations — are concentrating their investments in high-density ecosystems such as Silicon Valley, the U.S. East Coast, Israel, and London. Without critical mass or strong international connections, local ecosystems risk falling behind.

In this context, Australia has made significant progress in recent years. Its leading regional powerhouses, New South Wales and Victoria, now count 709 and 409 scaleups respectively. Both regions are part of the select group of 50–60 global ecosystems that have reached the scaleup phase, generating hundreds of innovators each year. This positions Australia with a real opportunity to emerge as a “Star” ecosystem on the global stage.

Yet, Australia’s greatest challenge remains overcoming its geographic isolation. To truly compete with top-tier innovation hubs, it must forge robust international connections.

Key milestones in this direction include the second edition of South by Southwest (SXSW) in Sydney, supported by the NSW Government, as well as the Mind the Bridge Scaleup Summit Australia. These events are focused on connecting startups and corporations to unlock new opportunities for scouting and strategic collaboration.

The conclusion is clear: forging international connections is not optional — it is the only way to unlock Australia’s full potential and secure its place on the global innovation map.

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