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A startup is a company or partnership that has been newly formed with the intent of scalable business model. Startups often launch with relatively few finances with the intention of securing seed funding or venture capital. Their resurgence in recent years has engendered an increasing number of incubators and collaborative workspaces, and thus the number of these types of workspaces and the number of startups in a city is usually positively correlated. The majority of startups work within the technology and IT industries, and are becoming an increasingly important indicator of the innovation, attractiveness, and financial sustainability of a city.
This FACT indicates the number of startups in each state and territory, per 100,000 persons. While New South Wales has the most startup activity of any Australian city, Queensland has the most startups proportionate to the population size, at 7.39 startups per 100,000 persons. The Australian Capital Territory came in at a close second, at 7.27 per 100,000.