The Global Entrepreneurship Congress is coming to Melbourne in March 2023. Co-hosted by the Global Entrepreneurship Network, GEN Australia, and MCI Australia, GEC 2023 will bring together entrepreneurs, investors, ecosystem builders, policymakers and community leaders from 200 countries to strengthen innovative approaches to empowering entrepreneurs.
What does GEC mean for the Aussie businesses?
Commenting on the news, Ed Husic, Minister for Industry and Science said, “I couldn’t be more thrilled to welcome the Global Entrepreneurship Congress to Australia next year. Now that we are back to travelling, it presents a fantastic opportunity to boost global tourism, discuss entrepreneurial opportunities, and supercharge Australian and global industries.”
With an entrepreneurship ecosystem valued at approximately AUD $23.6 billion, Melbourne is a hotspot for startups and a destination for investment. The value of the local ecosystem has more than doubled since 2021, and total early-stage funding has grown by over 54%, according to research from Startup Genome and GEN. The 2022 Global Startup Ecosystem Report ranks Melbourne among the top two cities for entrepreneurship in Oceania.
Commenting on the announcement, Jonathan Ortmans, President of the Global Entrepreneurship Network said, “Melbourne is a rapidly expanding hub for innovation and entrepreneurship. It is a fitting backdrop to connect and collaborate to bring ideas to life, drive economic growth and expand human welfare in the post-pandemic economy.”
What does GEC 2023 selection mean for Australia?
GEC 2023 will build on the GEC 2022, which wrapped up in March in Riyadh, Saudi Arabia. Delegates from 200 countries came together for the first time since the pandemic to make connections, share best practices, and strengthen the entrepreneurship ecosystem.
Commenting on the news, Dr. Chad Renando, GEN Australia Managing Director said, “GEC 2023 is a once-in-a-generation opportunity to bring leaders from around the world to showcase Australia’s innovation ecosystem as we collectively leverage innovation and entrepreneurship to address global challenges. It could not happen at a better time, as Australia builds on year-on-year record venture investment coming out of a pandemic.”
The GEC brings over AUD $40m in economic value to the host economy. Hosted in a different city, the GEC has so far been held in Kansas City (2009), Dubai (2010), Shanghai (2011), Liverpool (2012), Rio de Janeiro (2013), Moscow (2014), Milan (2015), Medellin (2016) and Johannesburg (2017), Istanbul (2018), Manama (2019) and Riyadh (2022).
