Entrepreneurship is booming in Melbourne – home to more than 2,100 start-ups, over 500 investors and close to 50 accelerators – and it continues to grow as one of the top start-up ecosystems in the world.
But it isn’t alone.
A global entrepreneurial revolution has taken hold building a shared engine of innovation and economic growth in cities and countries everywhere. According to the just-released Global Start-up Ecosystem Report, a record 540 companies achieved unicorn status, with valuations above $1 billion, in 2021. That number is more than triple the amount from 2020 – with 113 ecosystems producing at least one unicorn.
In May 2023, Melbourne hosts the Global Entrepreneurship Congress, gathering multitude of ecosystem builders, entrepreneurs, investors and policymakers responsible for driving innovation in their communities and countries. Vibrant, scalable high-performing ecosystems share a common set of characteristics that can provide a roadmap as we reboot, rethink and regenerate a more resilient and inclusive post-pandemic economy. GEC 2023 will examine those characteristics while exploring data-driven insights into policies and programs to stimulate new business growth.
Ecosystem leaders from places like Melbourne, Tokyo and Silicon Valley bring experience from well-established technology hubs. Those from less mature but rapidly rising ecosystems like Mumbai, Bogota and Lagos bring new ideas and energy. Meanwhile, start-up savvy ministers and policy experts will work to shape government agendas in a Start-up Nations Ministerial.
Thanks to the leadership of the Victorian State Government and Australian Federal Government, Australia’s ecosystems will take centre stage in driving global collaboration. During GEC 2022, the host country announced $13.8 billion in investment towards efforts such as new financial products for entrepreneurs and mentorship schemes, direct investments and loan guarantees. Your support will help determine the impact we have in 2023. I encourage you to participate with us and our local co-hosts at MCI Australia to fully leverage this opportunity – while building relationships with ecosystem leaders who are creating a legacy, and a path forward, for Melbourne… for Australia… and for the world.