For the past couple of decades, technology startups have been largely associated with Silicon Valley. However, with FI chapters in over 110 locations around the world, it’s evident that entrepreneurs can successfully launch technology startups practically anywhere on Earth.
One notable ecosystem can be found in Australia, where entrepreneurship has been flourishing in recent years. In response to this massive growth, Founder Institute CEO, Adeo Ressi, has a message for Aussie Entrepreneurs: in lieu of packing up and moving to The Valley, appreciate what you have at home.
According to Adeo;
First, you have a largely wired and untapped market back home, with generally favourable regulation, a rapidly expanding technology sector and big opportunities in the growing domestic healthcare, transportation, education and government markets.
Secondly, you have an extremely beneficial geographic advantage, having time zone alignment with, and being a short flight from, the world’s largest population (along with several of the world’s fastest-growing internet populations). Small markets can kill good companies and good, large markets can pull mediocre companies into greatness. Being so close to such a massive market is an absolutely huge competitive advantage.
Third, you would be hard pressed to find a faster-growing start-up ecosystem than Australia’s, and this is very important. A lot of people dismiss the notion of an ecosystem, portraying it as a “fluffy” word that doesn’t contribute to actual economic value. But one of the main reasons why Silicon Valley is a hotbed for innovation is the collaborative ecosystem and culture that exists here" - Adeo Ressi
Read the Adeo's full article on Business Review Weekly: Why Aussie start-ups shouldn’t move to Silicon Valley.