Brisbane becoming a magnet for high growth startups
On the second anniversary of Brisbane’s first CBD startup space The Capital, Brisbane’s Deputy Mayor Adrian Schrinner and Fishburners have announced greater support for scaling startups.
With demand for desk space at The Capital continuing to soar, Cr Schrinner said Fishburners would double its presence and add two new accelerator programs, including a launch pad to help startups scale into Asia.
“The last few years have seen tremendous growth in the number of high-value, globally competitive businesses being established in the wider Brisbane area,” Cr Schrinner said.
“We predict this trend will continue, and to support high-growth companies we are very proud to see the introduction of the Brisbane Shenzhen launch pad right here at The Capital.
“Brisbane is becoming known as an innovation hub and our attractive lifestyle offering, overseas markets links and great employment opportunities are luring startups to build a global business in our own backyard.”
Several companies have started participating in the Brisbane Shenzhen launch pad, including Shenzhen-based robotics company, Dorabot, who will establish its international footprint in Brisbane. Brisbane-based headphones creator, Audeara, will participate in the launch pad to take its products to Asia.
Cr Schrinner said Brisbane’s innovation ecosystem was booming with new co-working giants set to open in the CBD.
“In the last two years we’ve seen Brisbane’s offering expand, so that startups of all different industries, size and growth phase can be adequately supported,” he said.
“By year’s end we’ll see the likes of Hub and WeWork all offering CBD co-working spaces for high-growth companies.”
Australia’s largest startup space operator Fishburners is one of two anchor tenants at The Capital.
CEO Pandora Shelley said Fishburners was a community which offered much more than desk space.
“This year, Fishburners is itself scaling up, with demand for our services seeing unprecedented growth over the past year,” Ms Shelley said.
“There is enormous entrepreneurial energy coming out of Queensland at this time and The Capital is a vibrant and visionary initiative which has really helped fuel local startup growth. We are thrilled to take our partnership with Brisbane City Council to the next level with this expansion.”
Fishburners’ startups create products in a broad range of categories, with the top five including:
1. B2B (36%)
2. SaaS (29%)
3. iOS app (28%)
4. Android app (23%)
5. Marketing (23%)
Brisbane alumni ‘born’ at The Capital include Lawcadia, which has begun expanding into the US and fintech app SavR, which has just raised $1 million from a Chinese investor.
Brisbane City Council has invested $5 million commitment over five years to establish The Capital and expand Brisbane’s startup community.