The 2014 Startup Muster data is out and it contains some useful insights into Australia’s startup scene.
Run by Fishburner’s GM Murray Hurps, there were 976 submissions received of which almost half were valid responses.
A typical founder profile
Australia’s startup founders are most likely to be male, have a university degree and be in their early 30s, the latest startup data shows.
For most of them (58%), this is there first go at launching a startup.
The number of females having a go is growing, albeit slowly.
Sydney is the startup capital
New South Wales is the startup capital of Australia with 48% of ventures choosing the state as their headquarters. Sydney is the home of startups, it has the largest proportion with 12% of respondents based in the Harbour city compared to Melbourne with 7%.
Startups like to co-work
You’ll most likely find the startups working out of a co-working space with 52% of respondents reporting they work out of a hub at least some of the time — if not all the time.
Raising funding is tough
A massive 66% of Australian startups have never raised funding. Another 18% have either tried to raise and failed or couldn’t raise enough.
Of those who managed to raise capital, 61% were funded by private equity while almost one in five turned to family or friends for capital.
The most common amount raised by Australian startups was less than $50,000 while bigger rounds (more than $1 million) made up about 13% of the funding ecosystem.
They aren’t generating a lot of revenue
The majority of startups (55%) haven’t generated revenue in the past 12 months.
However of those startups generating revenue, 44% had export revenue and almost one in five had more than 50% in export revenue.
But they are generating jobs
While the biggest chunk of startups create at least one job the average is three jobs.
But they take advantage of flexible employment arrangements, outsourcing tasks like graphic design and software developers to freelancers predominately located in Australia and Asia.
The full Startup Muster report is here.
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