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Millennials Point Challenging Ecosystem for Startups in Australia

Millennials who want to start their own businesses usually don’t include Australia on their shortlist of places where to open up a startup, a new survey suggests. The survey, compiled by Nestpick, revealed only one Australian city has entered the list, Sydney.

The state capital of New South Wales was able to sneak into the top 20 of the survey. Being in the 20th spot, Sydney was just behind cities on the other side of the pond, which were Austin in Texas, Portland in Oregon and Budapest in Hungary.

The top two was not a big surprise as San Francisco and New York City was seen as the best place for entrepreneurial Millennials based on their business ecosystem. Meanwhile, Kuala Lumpur grabbed the third spot. Then ranking from the fourth place to 19th place are as follows: Miami, Los Angeles, Seattle, Beijing, London, Portland, Austin, Amsterdam, Denver, Boston, Shanghai, Philadelphia, Budapest, Tel Aviv, Vancouver, and lastly Moscow.

The study ranked 100 cities, and, according to Netspick, based the ranking on three factors: startup ecosystem, and employment. Moreover, the furnished apartment search engine said the purpose of the survey was to determine which cities are attracting Millennials and the future of the workforce.

“We must learn to adapt to the needs of younger people in order to have a thriving economy, and we believe that this ranking offers valuable insights to those cities looking for regeneration from a younger demographic,” Ömer Kücükdere, Managing Director of Nestpick, said via Business News Australia.

“Millennials grew up in a shrinking world, where the internet opened doors their parents never could have dreamed of, and budget airlines made those avenues real possibilities,” Kücükdere said via Business News Australia.

“It’s now possible to live and work anywhere in the world, and these opportunities are shaping how our planet will look to future generations.”

Out of the 110 cities ranked by the furnished search engine, one Australian city was able to make the cut. Sydney, which is currently at the 20th spot, is known to be the most populous city in Australia and Oceania, making it a hub for businesses, business brokers victoria and customers alike.

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