STARTUP ECOSYSTEM REPORT

ANGEL & STARTUP DENSITY
Source: AngelList, CrunchBase and Boundlss research. Note smaller ratios are better.
CITY (POPULATION)
Boulder Colorado (105,000)
Bend, Oregon (79,000)
Burlington, Vermont (43,000)
Tallinn, Estonia (400,000)
Lehi, Utah (49,000)
Brighton, UK (155,000)
Cairns (158,000)
ANGEL DENSITY
STARTUP DENSITY
This diagram examines Startup Density (the
number of people in a region per startup), and
Angel Density (the number of people in a region
per angel investor). Note that smaller ratios
are better, such as Bend Oregon which has
approximately 1 angel investor per 5,000 people,
compared to the Regional Queensland Average
which is approximately 1 angel investor per
150,000 people. The diagram compares the seven
regions in this report with nine comparatively sized
regional cities in the US and Europe that have
developed strong technology hubs.
In 2015, entrepreneurs in smaller cities across
the world have plenty of opportunity thanks
to advances in technology that weren’t readily
available five years ago. The proliferation of
open-source tools and cloud computing has made
it possible to start a fast-growth company from
virtually anywhere. In todays economy, innovation
is critical and operating within a cluster shortens
the time required to identify, resource, and realise
areas of need and opportunity. 23
Eindhoven, Netherlands (216,000)
Oulu, Finland (190,000)
Reykjavik, Iceland (400,000)
SEQ Average (2,500,000)
RQ Average (1,006,000)
Rockhampton (85,000)
Toowoomba (162,000)
Mackay (123,000)
Townsville (192,000)
Bundaberg (94,000)
Ipswich (190,000)
200K 175K 125K 100K 75K 25K 0 5K 10K 15K 20K 25K 30K 35K 40K
Number of people per angel investor
Number of people per startup
31