Closing Q1 with a bang! Top stories from Sydney’s booming tech scene

Closing Q1 with a bang! Top stories from Sydney’s booming tech scene

We’ve all heard the phrase “Records are made to be broken” - this rings true now more than ever in the Aussie tech scene.

There’s so much going on in the tech space right now that it’s simply impossible to keep up! That being said, we tried our best to pick just a few of the top stories for March.

Another week, another unicorn! ‘Link in bio’ startup Linktree becomes the fifth unicorn to come out of Australia in the first quarter of 2022, following Zeller, Immutable, Employment Hero and Scalapay. 

They raised $152 million in their latest round, putting their valuation at a whopping $1.8 billion! 

“In the last year alone, Linktree says it had 1.2 billion unique visitors per month to the website. This raise will allow the company to focus on additional geographic expansion, recruitment, revenue streams and further value for its creators and brands via new tools and partnerships.”

 

If you’re not convinced that tech is taking over Australia’s economy, let’s take a look at the 2022 rich list. For the first time ever, 4 out of the 10 richest people in Australia are founders of tech companies!

“The dramatic shift from mining and property to technology to generate wealth in Australia has made Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar, and Canva’s Melanie Perkins and Cliff Obrecht among the country’s top 10 richest people.”

And the ripple effect of this can already be seen in Sydney’s youth. 16-year old high school student Nick Mihailou recently launched Appstra, a start-up-focused app development agency. Starting with only $200 in capital, Appstra now has multiple 6-figure contracts with some of Aussie’s top tech startups.

“People like Scott Farquhar, Mike Cannon-Brookes, Nick Molnar and Melanie Perkins, are the leaders and entrepreneurs I aspire to be like, and hopefully follow in their footsteps; to put Aussie tech start-ups on the map.”

The NSW government acknowledges the impact tech has on the Australian economy and is committed to supporting its growth. In fact, they created a new voluntary panel in March to advise them on local and international investment opportunities. The panel is stacked with industry leaders, including the likes of Tesla chair and Blackbird operating partner Robyn Denholm.

“A laser-like focus on pursuing the strongest investment opportunities will boost our economic recovery and drive job opportunities across the state.”

If all the stories and government initiatives discussed above still aren’t enough to convince you about the strength of Australia’s tech scene, let’s take a look at what Sundar Pichai, CEO of Google has to say.

“Australia can help lead the world’s next wave of innovation, harnessing technology to improve lives, create jobs and make progress”

If the CEO of one of the largest tech companies on the planet believes that Australia is a leader in tech innovation, you know it must be true.

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