Melbourne has been named Australia’s most innovative city in the annual 2thinknow Innovation Cities Global Index, beating Sydney and ranking 11th place in the world.
Melbourne jumped from 16th place in 2018 to its new position just outside the world’s top 10, while Sydney dropped from 10th to 15th.
Brisbane entered the top 50 for the first time, at 48.
Victorian Minister for Jobs, Innovation and Trade, Martin Pakula, said, “It’s fantastic to see Melbourne continue its rise up the ranks of the world’s most innovative cities and we’re backing ground-breaking companies to continue to do amazing things in Victoria.”
The 2thinknow Innovation Cities Global Index, now in its 12th year, is the world’s longest-running report of its kind.
The index ranks 500 cities across the world based on 162 indicators including; start-up economy, mobility, sustainability, neighbourhoods and technology.
The Innovation Cities Global Index top 10 for 2019 is:
- New York
- Los Angeles
- San Francisco/San Jose (Silicon Valley)
The Victorian Government credits the startup agency LaunchVic with playing an important role in Melbourne’s tech boom, supporting and funding early-stage startups and scaleups which have contributed to significant expansion in the innovation ecosystem.
LaunchVic has backed 386 companies and more than 4,800 entrepreneurs by providing mentorships, accelerator programs, bootcamps and other support for early-stage businesses to reach their full potential.
“We know that Melbourne is the home of innovation in Australia and while titles are nice, the real rewards are the growing number of jobs that our cutting-edge companies deliver for Victorians,” Minister Pakula said.