The majority of the feedback strongly agreed with the City’s proposed actions or thought that they would be useful in supporting tech entrepreneurs to launch and scale innovative companies.
The predominant theme was the need for entrepreneurship skills and knowledge delivered through programs, workshops, meetups, seminars or international speakers. The need to leverage connections with TAFE and universities as a source of talent and as education providers was highlighted as was the specific need for mentorship.
The feedback also focused on the need for and lack of affordable office space when tech startups are launching and scaling and the opportunity for City of Sydney to provide this. A number of comments also referenced the opportunity to create a tech hub which would enable startups to connect, share ideas, mentor and partner with others.
The lack of access to capital was raised as a barrier to the growth of tech startups in the comments about investment.
In considering increasing business, or access to markets, the comments focused mainly on how valuable international connections are in gaining skills, obtaining customers or market share and investment and that City of Sydney can leverage these through its international relationships. The feedback also mentioned that the City can ‘open its order books’ to procure goods and services from tech startups.
The lack of diversity and the need to support women entrepreneurs to start and grow global businesses was highlighted in the comments about diversity in Sydney’s entrepreneurial culture and community.
Some comments focused on the lack of skilled employees, business skills (legal and support for employees) and the restrictive tax legislation which are all barriers to the growth of tech startups, that implementation of the action plan needs to be ‘entrepreneur-run’ and fast NBN/internet speed is essential infrastructure but lacking in Sydney.
91% of respondents considered suburbs within the City of Sydney’s local government area to be best place for tech startups. The top three areas were the CBD, Pyrmont/Ultimo and Redfern/ Eveleigh.