Australia's largest city boasts beaches and a rather famous opera house. But where should you go to meet VCs and startups in the region's busiest tech hub?
Sydney is a reliable fixture in the Most Liveable Cities list, known for its beaches, New Year’s fireworks, and the world’s most famous opera house.
It is also host to a range of corporate venture units, in addition to some of the region’s biggest tech success stories, including Canva, Atlassian and Zip. We enlisted Lynn Thompson (below), partner and global head of strategy and partnerships at local insurer QBE’s venture arm, QBE Ventures, as our guide.
What makes Sydney’s startup scene stand out? What is the city particularly strong in?
Sydney has the highest density of startups in Australia, attracts 65% of all funding and is home to a thriving ecosystem of founders, VCs and universities. Startups are particularly strong in fintech, climatetech, AI and deeptech. Companies like Canva, Atlassian, Deputy, Immutable, AirTrunk and Safety Culture show the scale of success possible, while newer companies in areas such as quantum computing speak to the bench strength of talent.
Where are the hotspots in the local tech scene?
Startups, VCs and accelerator programmes are concentrated around the CBD, Surry Hills and the more recently established Tech Central Innovation Hub.
Where’s the best place for a coffee meeting?
That’s the best thing about Sydney: there is honestly good coffee at almost every turn! Reuben Hills is always a winner, and in the city, Cabrito Coffee Traders and Marlowe’s Way are always solid. Australians tend to order a flat white, latte, piccolo or cappuccino.
Where would you take a founder you wanted to impress to dinner?
Olympus Dining is great and right under the EVE hotel, a fantastic spot for people visiting Sydney and wanting to be close to the tech heart of Sydney. In the CBD, Angel Place (right) is home to lots of great restaurants.
But really, nothing beats the 5am club in Sydney. That means getting up as the sun rises for a run, or a swim in the ocean, followed by a coffee in hand, sand between the toes and a fresh outlook on life. Hundreds of other people will be doing the same.
What are the best events for meeting local founders and investors?
Startmate’s accelerator programme, Antler’s programme and the Techstars Accelerator programme are all very well regarded. The biggest events are Sunrise Festival and SXSW — these have a lot of side events too, so make sure to get along to the mixers.
What’s the one thing every visitor should see while they’re here?
Walk past the Opera House and into Mrs Macquarie’s Chair inside the Royal Botanic Garden. If you’re lucky the open-air cinema (in the summer) or the Vivid Sydney light festival (in winter) will be on.
Who in the local VC/CVC/startup scene should people make sure to meet while they’re here?
Get in early to secure a seat at the Sunrise Festival Startmate demo day. It brings a huge crowd. The best VC and high growth founder connector community is Innovation Bay, and notable local VCs, CVCs and startups include Square Peg, Blackbird, Airtree, NAB Ventures, QBE Ventures, x15, Reinventure, Canva and Immutable.
What’s a secret only the locals know about?
Downtown Sydney – Haymarket – has one of the biggest Chinatowns in the world for your fill of noodles and yum cha. There are lots of little hidden bars around the CBD, like Old Mate’s Place on Clarence Street – go up to level four, or if you’re in more of a rum mood head down to the basement for a tiki bar.
If you head from the CBD to Manly Beach – 15 minutes by the fast ferry – rather than going straight down the Corso (the pedestrianised thoroughfare), turn left and walk along the water. First, you’ll hit the beautiful Pavilion restaurant, then keep walking around the building and you’ll get to an amazing walking track that wraps around the harbour, with incredible views and little spots to dip into the ocean for a quick swim.
