Gold Coast Power 100 2019: Innovators and start-ups show way to growing Gold Coast economy
Developers and builders may dominate the private sector figures on the Bulletin’s Power 100 list, but innovators and technology players are snapping at their heels.
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DEVELOPERS and builders may dominate the Power 100 list when it comes to industry representation but innovators and technology players are snapping at their heels.
That’s because the fastest-growing companies on the Glitter Strip, and in Australia, come from the technology and innovation sector.
Surfers Paradise-based AutoGuru, which runs a marketplace for car servicing and repairs, recently came seventh in the 2019 Deloitte Technology Fast 50 Australia Awards.
The awards rank businesses on revenue growth over the past three years and previously have featured names such as Afterpay and Atlassian – the latter a software giant with a market capitalisation of $1.78 billion.
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AutoGuru, led by ex-Melburnian Eden Shirley, came in the top 10 thanks to growth of 707 per cent.
Gilmour Space Technologies, led by brothers James and Adam Gilmour, has an ambitious goal to be one of the city’s major employers in the future with thousands of staff.
The company secured $19 million in funding last year to develop low-cost rockets and launch vehicles to send small-to-medium size rockets into orbit.
Sharon Hunneybell, who heads up the Gold Coast Innovation Hub, is a new entrant on this year’s list coming in at No. 73 with GCIH chair Danny Maher.
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The hub is now home to 82 businesses ranging from one person to 20 staff.
They include HotelFlex, a company that helps accommodation providers make money from guests who want an early check in or late check out, and property technology company RealAR, which is an augmented reality start-up where users can visualise property plans and walk-throughs before properties are built.
Any of the hub’s members could create the Coast’s very own version of Atlassian.
Ms Hunneybell said the innovation sector on the Gold Coast is “thriving”.
“There is a lot of optimism, people working together. There has always been a lot of people doing cool stuff on the Gold Coast but it has always been segregated with lots of people working from home.”
She said start-ups are increasingly choosing to be based on the Gold Coast rather than Brisbane or other capital cities.
A recent survey of Hub members showed they planned to collectively boost the number of part-time, full-time and contract jobs by 73 per cent in the next 12 months.
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