A global hub for innovation in Sydney
Located in Sydney, Tech Central is Australia’s largest innovation district. It brings together high-growth startups and scaleups, global tech companies and investors, and top universities and research organisations.
This powerful mix creates an innovation ecosystem worth an estimated $42 billion. It generates about $1.3 billion in early-stage funding each year. The hub supports nearly 100,000 jobs and includes 4,300 businesses and over 160,000 students.
Why international businesses choose NSW
Foreign companies looking to expand into Asia–Pacific markets choose NSW for its:
- skilled workforce
- access to capital
- strong supply chains and infrastructure
- proximity to global markets
- supportive government and innovation programs.
Tech Central plays a key role in this, offering a central location and access to NSW’s strengths in:
- deep tech
- digital and creative industries
- medical and biotechnology.
It’s an ideal place for global businesses to set up their regional headquarters or research centres.
Innovation districts drive productivity
Tech Central is part of a global trend. Innovation districts have boomed in places like the UK, Japan and Canada. On average, businesses located in these hubs report higher productivity and growth.
For example:
- London’s Knowledge Quarter (similar to Tech Central) grew 70% between 2011 and 2019
- This compares to 49% growth for the City of London and 38% for England overall (not adjusted for inflation).
This shows how innovation districts create strong economic returns. There's power in bringing businesses, researchers and talent closer together.
Supporting long-term growth and investment
Maintaining Tech Central’s success is crucial. To that end, the NSW Government has commissioned a Tech Central economic development strategy. It focuses on attracting top talent and international investors, driving growth in critical industries, and supporting new jobs, exports and technologies.
Source
This case study is based on content from the NSW Trade and Investment Strategy (see page 46).