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Melbourne is world’s #22 Tech City

Opportunities in Melbourne await international student graduates in the information and communications technology (ICT) field. The city is ranked #22 among the world’s top locations for tech companies by the Savills UK Tech Cities in Motion report.

The world ranking is a result of a combination of factors such as the availability of venture capital, being on the radar for global tech companies, liveability and tech talent in Melbourne.

Savills Tech Cities consider urban centres that attract the best tech talent and are dynamic cities ideal for work and lifestyle choices. They are seen as important centres for technology in their region and venture capital investment hotspots.

The Savills Tech Cities index measures what makes the cities successful. The areas where Melbourne did well are health sciences and online digital platforms, having one of the largest ICT research and development clusters in the Southern Hemisphere.

The top 30 Tech Cities are:

  1. New York
  2. San Francisco
  3. London
  4. Amsterdam
  5. Boston
  6. Singapore
  7. Los Angeles
  8. Austin
  9. Stockholm
  10. Copenhagen
  11. Toronto
  12. Seattle
  13. Tokyo
  14. Paris
  15. Shanghai
  16. Berlin
  17. Beijing
  18. Te Aviv
  19. Dublin
  20. Hong Kong
  21. Barcelona
  22. Melbourne
  23. Seoul
  24. Shenzhen
  25. Hangzhou
  26. Chengdu
  27. Santiago
  28. Buenos Aires
  29. Bengaluru
  30. Cape Town

The report also notes that Tech Cities are outperforming other global centres that have not been listed in the Top 30. Gross domestic product across the 30 Tech Cities is more dynamic, with a growth forecast of 36% in the next decade compred with 19% across other developed cities. Overall, the total VC investment in the Tech Cities grew to $207.8 billion USD in 2018, from $37 billion USD in 2012.

In the mobility subcategory, Melbourne ranks #8 in the quality of its urban infrastructure which includes urban form, cycle networks, walkability, congestion and air pollution. It places #11 in its metro system in terms of scale, ridership, cost and innovation.

As for real estate cost, Melbourne ranks #11 with rental cost averaging $486 per week (USD330) and coworking office space at $790 per month (USD540). The city ranks #13 in venture capital investment volume valued at around $5 billion USD between 2016 to 2018.

R&D ‘hatching’ capital of Australia

Melbourne is considered the ‘hatching’ capital of Australia because of its strong focus on research and development, producing commercially-viable breakthroughs recognised by the global R&D community.

Here are a few more distinctions that Melbourne is known for:

  • Home to 11 of Australia’s top 20 technology companies
  • Heaps of employment opportunities with over 8,000 companies operating in the city
  • Australia’s technology hub with world-class talent and R&D infrastructure
  • 2nd most liveable city in the world, most attractive city to live and work in
  • Highly-respected health sciences and online digital platforms
  • Australian operations base of global tech companies like IBM, Microsoft, HP, Motorola, NEC, Ericsson, EMC, Cisco, Intel, Thales, Fujitsu, Hitachi and Bosch
  • Globally-recognised research organisations:
  • Victorian Life Sciences Computation Initiative – a $100 million supercomputer facility devoted to the life sciences and considered the largest in the world
  • Centre of Energy Efficient Telecommunications – one of the largest global research initiatives on green telecommunications
  • CSIRO’s Data61 – Australia’s leading data innovation group, officially formed in 2016 from the integration of CSIRO’s Digital Productivity flagship and the National ICT Australia Ltd (NICTA)
  • IBM’s Global R&D Laboratory
  • Cooperative Research Centre for Spatial Information – IP Generation and broad sector spatial solutions

What this means for Southern Cross University students

Southern Cross University’s students stand to benefit from the dynamism of Melbourne’s ICT sector and can contribute to the knowledge base once they graduate.

The University’s Bachelor of Information Technology in Melbourne, Perth and Sydney branch campuses offer major concentrations in Digital Enterprise and Software Development.

It equips students to be globally-ready for the demands of the ICT industry as it tackles issues confronting the IT industry including employer obligations, employee rights, impacts on society and future directions of the industry.

The University also focuses on delivering programs that help students develop web-based business information systems. Upon graduation, international students can apply for jobs in tech firms and apply their skills in programming, systems analysis and design, cybersecurity, database development, networking and communications theory. 

It is thus crucial that they understand their work rights in Australia and be confident in applying their skills and knowledge about the ICT sector.