Queensland has long labeled itself as the smart state however this is proving to not be the case when it actually comes to hard evidence.
Deloitte Technology’s list of the top 50 fast growing technology risers had only three Queensland based companies. This figure has been decreasing over the last 5 years and does not look like rising anytime soon.
The closest company to come in the Top 10 is the online surf retailer, SurfStitch. The company is owned by Lex Pederson and Justin Cameron and they came in 10th position. The company has performed astronomically over the past 12 months, growing 252 per cent. The company has achieved great sales due to a brilliant online business model and by often providing a SurfStitch coupon to lure the consumer. The company’s success has attracted the attention of Billabong, who purchase a minority stake in the business.
The goal for the state should be to push the Technology agenda further this year and try to regain some lost ground. If not, the status of the smart state is highly questionable.