CHART: Australia has a tiny rate of tech startups for its population

The formation rates of startups in Australia is too low compared to the rest of the world, StartupAUS says.

The startup representative body, which released its Crossroads report today, estimates there are 1,200 tech startups in Australia, or just 0.06% of all Australian businesses.

It said the current startup establishment rate in Australia of between 20 to 30 per million people a year, is too low compared to US hotspots like San Francisco which can have an annual startup formation rate of up to 250 per million people a year.

This chart shows how Australia compares on a global scale.

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