Tech SMEs set to contribute up to $109 billion to the economy within 20 years

Tech SMEs have the potential to contribute $109 billion to the Australian economy, or around 4% of GDP, by 2033, according to a new report, which identifies four key ways to unlock the potential of the sector.

The report, titled The Startup Economy: How to support tech startups and accelerate Australian innovation, was commissioned by Google and prepared by PricewaterhouseCoopers.

Preliminary findings of the report, which provides a snapshot of Australia’s 1500 tech start-ups, were released in March.