STARTUP ECOSYSTEM PRELIMINARY REPORT

FOREWORD
“ NEW TECHNOLOGIES ARE
A FUNDAMENTAL SOURCE
FOR THE CREATION OF NEW
JOBS, NEW BUSINESSES,
NEW INDUSTRIES AND
ECONOMIC GROWTH.”
FOREWORD FROM THE MINISTER
Western Australia has a long and proud history
of achievement in research and development,
driving technology innovation and efficiencies
in our economy, the better understanding
and management of our environment, and
improvements to its health, safety and security.
I am pleased to present the Western Australian
Startup Ecosystem Report which the Department
of Commerce has commissioned in partnership
with StartupWA, Spacecubed and the City of
Perth.
The findings in this report highlight the
important role played by our Western Australian
startup ecosystem and how it will continue to
build a vibrant sector creating innovative new
technologies for the benefit of the State.
The report estimates the State currently has
more than 335 active startups, employing near
3,000 people and, since 2011, local startups have
raised more than $100 million in funds.
As an in-depth insight into the diversity and
unique aspects of the Western Australian startup
ecosystem, the report identifies key participants
and quantifies participation rates, business
formation, investment rates and fund flows.
In a climate of reduced growth from traditional
approaches, innovation is vital to driving
increased productivity and economic growth as
new technologies are a fundamental source for
the creation of new jobs, new businesses, new
industries and economic growth.
I would like to thank all those who supported
and contributed to this valuable report.
Hon. Michael Mischin MLC
Attorney General;
Minister of Commerce
The purpose of the report is to map connectivity,
linkages and interdependencies, and identify
critical issues and opportunities for collaboration
within the local sector such as access to capital
and the participation of universities in realizing
commercialisation.
This will result in the ability to identify
opportunities for development and facilitate
competitive advantages, such as clusters of
innovative companies in agricultural technology,
resources technology, games development,
advanced robotics or Internet of Things
technology.
7