Entrepreneurial millennials around the world do not rate Australian cities as being the right places to begin a startup with only Sydney sneaking into the top 20 of a major survey.
Not surprisingly, San Francisco and New York City were rated the top two cities for entrepreneurial millennials based on their business ecosystem while Kuala Lumpur was ranked third.
Sydney just made the top 20 and is ranked behind the likes of Austin in Texas, Portland in Oregon and Budapest in Hungary. No other Australian city made the list which was compiled on a survey by furnished apartment search engine, Nestpick.
The survey was released on the day the the world's most influential thinkers, entrepreneurs and innovators gather in Queensland for Myriad, which is being hailed as Australia's premier technology and innovation event.
The event kicked off with a special event in conjunction with the City of Gold Coast with a Q&A with the special guests at The Star.
The core event will be held from Wednesday to Friday at the Brisbane Showgrounds and will cover seven themes that will cover the future of food, health, culture, play, work, cities and money.
The study reveals the top 110 cities for entrepreneurial millennials, based on factors such as startup ecosystem, and employment. Nestpick says it conducted the survey to pinpoint which cities are successfully attracting this generation, and therefore a core future workforce.
"We must learn to adapt to the needs of younger people in order to have a thriving economy, and we believe that this ranking offers valuable insights to those cities looking for regeneration from a younger demographic," says Ömer Kücükdere, Managing Director of Nestpick.
"Millennials grew up in a shrinking world, where the internet opened doors their parents never could have dreamed of, and budget airlines made those avenues real possibilities," says Kücükdere.
"It's now possible to live and work anywhere in the world, and these opportunities are shaping how our planet will look to future generations."
Top 20 Cities for Business Ecosystem:
1. San Francisco
2. New York City
3. Kuala Lumpur
5. Los Angeles
17. Tel Aviv
Business News Australia
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