NSW government spends $35m on new startup hub

Sydney-startup-hub-workspaceThe NSW government is investing $35 million into a new startup and innovation hub in Sydney’s CBD.

Premier Gladys Berejiklian said the Sydney Startup Hub will be the first of its kind in the Southern Hemisphere and allow entrepreneurs to develop innovative business ideas that will create job opportunities across regional and metro NSW.

“More than 40 per cent of the nation’s start-ups are in NSW already and with the addition of this hub and the White Bay precinct we want to see that figure grow,” said Berejklian.

Jobs for NSW will fund the hub, which will be spread over 17,000sqm and 11 floors at York Street in a ‘high density startup cluster’. The government said it will open later this year.

“The Sydney Startup Hub will support businesses, turbocharge the start-up ecosystem, and drive job creation across the state,” said John Barilaro, deputy premier and minister for small business.

Startups including Stone and Chalk, Fishburners, Tank Stream Labs and The Studio have already signed up to use the space, which will also include 2500 residents.

“The hub will welcome regional entrepreneurs from the wider start-up ecosystem through the regional landing pad and community and events space,” said Barilaro.

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.

Comments

1 comment

  1. Don Gilbert posted on July 14, 2017

    We have brilliant initiatives my Governments for innovation start-ups. And it is happening in UK, USA, Singapore, Hong Kong, etc. People's Republic of China. Governments are pumping big money into this sector. Innovation comes from the SME Sector of town; and generally not Big Business. But SME's do need to be protected; our Intellectual Property, copyright, etc. and as this article suggests, major Corporations want our Governments to relax the Protection we have in our Intellectual Property I believe it would be crazy to relax any laws; in fact they should be tightened. Why would a sane Government(s) pump 10 of billions of dollars into innovation, when the Big End of Town thinks it is their RIGHT to hoover it up, without paying innovators for their efforts. Innovation, inventions would grind to a halt. reply

Comment Manually

Loading...

Inside Retail Polls

The Amazon effect...
What impact will the e-commerce giant have on Aussie retail?

Inside Retail Directory

Twitter

We chat with the veteran retailer and CEO of the fast growing tool chain. https://t.co/KW8aYhYXtA

2 days ago

Global brand and e-commerce giant team up for holiday experience. https://t.co/RPBGQhB3rf

2 days ago

“Significant behavioural shifts” reshaping Aussie retail according to e-tailer's founder. https://t.co/nxntogg3rs

2 days ago
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered