The capital of Australia, Canberra, is the country's largest inland city while also being the site of numerous institutions of cultural and social importance, such as the National Museum, Australian Institute of Sport, Australian National University and the National Gallery.
Home to a significant number of public servants, the Commonwealth Government employs a large number of Canberra's residents. The Parliament House, the residence of the Governor-General and location of numerous governmental agencies and departments, as well as the High Court, is located in the city.
Though Canberra has long been known for its expansive public servant sector, the city is increasingly making its mark as a hub of innovation as well. And it's no wonder that the city is bustling with entrepreneurship and breakthroughs.
Canberra, when compared to the national averages, has a younger population with higher education levels and a firm focus on forward-thinking research. The average income in the city is higher while unemployment is lower. Due to its strong foundation on territory and federal government, Canberra boasts an extensive infrastructure that lends itself to innovation.
According to the Australian Financial Review's 2016 list of the country's 50 most innovative companies, three Canberra companies made the list: My Health Test's parent company placed 16th, Thinkplace ranked in 19th place and Seeing Machines was in 27th.
My Health Test provides a method for people to take control of their own health in the comfort of their home, office or wherever they're most comfortable. A simple fingerprick test that they can perform at home provides individuals with information about their diabetes, thyroid, cholesterol and more.
Thinkplace is a company of global strategic design consultants. With a belief in a team effort that benefits both the collective and the individual, Thinkplace uses a keen understanding to fuel innovations and transformations of all sizes and scales.
Seeing Machines is a pioneering force in intelligent sensing algorithms. In order to facilitate increased performance, exceptional safety and an unparalleled user experience, Seeing Machines uses advanced technology to help machines understand people.
In Canberra, the information and communications technology (ICT) sector continues to see unprecedented growth. Currently employing approximately 8,000 individuals, there are more than 1,000 businesses populating this business segment, with these companies range from global entities to micro businesses. Much of this growth is driven by the government's tendency to outsource many elements of its ICT functions.
The private sector in Canberra is thriving with more than 25,000 businesses. The ACT government maintains an extensive number of resources and support programmes that entrepreneurs can utilise to help them establish their own business.
According to CBR, Canberra's burgeoning economy and low unemployment make the city a hot destination for those looking to invest or start a business. As a magnet of innovation, Canberra is also attractive to people who want to increase their talents. With the University of Canberra, the Canberra Institute of Technology and the Australian National University -- as well as their cutting-edge research institutions - located in the city, Canberra saw its economy grow 7.3%. This is over three times more than the national average. These three educational icons are also among the top employers in Canberra.
The University of Canberra (UC) is ranked among the world's top 100 universities. The university established a comprehensive plan to develop and graduate skilled individuals with the right combinations of skills, knowledge and abilities.
Canberra Institute of Technology (CIT) trains about 20,000 students per year and has touched the lives of people in the ACT and nearby regions for the past 90 years. With apprenticeships, diplomas, bachelor degrees and graduate certificates in a variety of disciplines, CIT helps prepare Canberra residents for the future.
Australian National University (ANU) is a top-ranked university that consistently delivers graduates who are deemed the most employable and the most sought after in Australia. In 2017, for the fifth straight year, ANU was ranked as the number one university in Australia in the Global University Employability.