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Sydney olympic park located in western sydney is known for its worldclass sporting venues and cultural events in recent years it has also emerged as a hub for startups and innovation with a growing community of entrepreneurs and tech companies the area has a population of around 7000 people and is located on the site of the 2000 summer olympics the park boasts modern infrastructure and transportation links making it an attractive location for businesses in terms of technological innovation sydney olympic park is home to a number of companies focused on sustainability urban planning and smart city technology startups like seniors housing online city data platform and relectrify have all been founded in the area the university of sydney and the university of western sydney both have campuses nearby providing a steady stream of talent and research opportunities as for economic indicators the living wage in sydney is currently around aud 2100 per hour and the citys unemployment rate is 53 the city level gdp for sydney in 2021 was estimated at aud 457 billion in terms of the startup scene sydney olympic park is still relatively small compared to other areas of sydney such as surry hills or pyrmont however there are signs of growth with a number of coworking spaces and startup accelerators opening in the area overall sydney olympic parks startup scene is showing promise but it still has a ways to go before it can match the likes of silicon valley or even some of sydneys more established tech hubs however with its strong infrastructure and proximity to top universities the potential for growth is certainly there