Australia, much like the rest of the world has its fair share of successful startups that are alive and kicking as we speak. Some of them have gone into becoming fully fledged companies that are now being traded publicly on the Australian exchange, but some are still in the process of growing and achieving that milestone.
Let’s look at the top 3 most promising Australian startups in 2019, their journey to get to where they are now, how they got there and the journey that is yet to come.
If you’ve ever had to design something but didn’t want to use Photoshop, or simply didn’t know how to do it, it’s likely that you’ve used Canva at some point in your life. Canva’s journey began quite a while ago, as it was first founded in 2007, and has been providing design templates for anybody willing to use them.
There have been numerous success stories from people designing their CVs on Canva and going for interviews that have landed them where they are now. The platform prides itself for providing only the most recent trends in the design world and even has a small section on the website where they give tips and suggestions to aspiring designers.
The accessibility and simplicity of Canva’s platform were what put it on the map, and made it a direct competitor of Adobe’s Photoshop, which is still the dominant designer tool in the market right now.
But the fact that a small Australian team managed to create a tool that everybody could use is phenomenal and highlights how a startup can be created with the simplest of thoughts. The increase in demand for skilled designers is going to put Canva even more clearly on the map of digital marketing and is sure to provide it more and more customers as the years pass by.
Thanks to the affiliation to the gaming industry that a lot of Australians have had ever since the formation of the country itself, nearly every gaming related startup has succeeded in the country. Right after the internet became a thing for the first time, Aussies were one of the first countries to take their wagering habits online.
However, the industry quickly became bland as everybody started copying each other. Royal Wins is the first company that provides Australian casino games online with a slight twist to them.
Their mantra is “Win differently” which was widely accepted by the local gaming community. Although they are not an already launched project like Canva, they are in the first round of their funding and are hoping to interest as many investors as possible.
The value that they bring to the market, will try to minimize the risk as much as possible for the player while providing them entertainment without any reduction in value. Due to the sheer size of the Australian gaming market, they’re on a clear road towards success, which they’ve already started thanks to the first pure skill money gaming license they just acquired.
Afterpay was an immediate success as soon as it launched in Australian. The Co-founder himself, Nick Molnar described it as the best financial tool for millennials.
The Afterpay platform allows consumers to pay the sum of an item in several batches. For example, a $100 item would have a $25 upfront payment with installments following up every two weeks after the first payment.
The community loved it as the company did not request too much in fees for their service, around 4% and it was a massive hit from the get-go. The company is already worth more than $1.5 billion after just nine years of operation and is well on its way to becoming larger.
Everybody is in anticipation to see an Afterpay IPO, but that may not be coming before the next large expansion.
Although there are more than enough case studies for the most promising Australian startups, these three managed to classify as the best examples of what works and what doesn’t in the world of business.
The creation of a product that solves a problem or introduces something new will always take off no matter where it was first created.