Tech start-ups could add $109 billion and 540,000 jobs to Australian economy

Tech start-ups could add $109 billion and 540,000 jobs to Australian economy

 

According to a new report commissioned by Google Tech start-ups could add $109 billion to the Australian economy and create 540,000 new jobs by 2033.

 

And that kind of growth can be achieved if high schools start producing more computer science graduates with never-say-die entrepreneurial skills, experts have warned.

 

"A strong home grown tech sector is vital to future Australian jobs and wealth," Google Australia's engineering director Alan Noble said.

"It's never a better time to be a tech entrepreneur, but we need to act now so that we become a nation of creators and innovators."

 

There are currently about 1500 tech start-ups in Australia, with 64 per cent in Sydney, 24 per cent in Melbourne and the remainder in Brisbane, Perth, Canberra and Adelaide.

 

There is a failure rate among tech start-ups of around 40 per cent, but the failed tech entrepreneurs usually rebounded and tried again, often very successfully.

 

The willingness to take a punt is crucial to building a strong Australian tech start-up sector so lets hope that this sector keeps on keeping on…