Domain Extension & SEO Impacts

I'm planning to register a domain extension for educational start up. But our brand name is not available with popular extension such as (.com, .org).
And most of the startups are using .co & .io extension for their business.

As per my understanding .CO stands for Colombia & .IO stands for British Indian Ocean Territory. If i register my website with any one of this & targeting people who living in Australia, Can i rank the website for local keywords?

Please advice.