Australia has long been renowned for having a resilient economy, and it’s seen a big shift over the past decade.
Local and federal governments are now significantly investing in technology through various initiatives, helping our local economy flourish, especially via innovation. A multitude of technology incubators and coworking spaces are emerging all over the region, signaling that our technology landscape is poised to make a tremendous global impact.
For example, Sydney-based graphic design software company Canva has raised US$70 million, amassing a total funding amount of $166 million USD and establishing itself as a unicorn. Melbourne-founded payments app Airwallex has also become a unicorn, with a more than $1 billion USD valuation following its latest fundraising efforts of US$100 million.