STARTUP HUB PLANNED FOR SYDNEY CBD

STARTUP HUB PLANNED FOR SYDNEY CBD

A STARTUP hub will be established in Sydney with the aim of growing the city as an international tech incubator.

Sydney already ranks in the top three startup ecosystems in Asia, and the sector is worth $70 billion to the state economy, but the city's start-up density is only 18 per cent of that found in Silicon Valley.

The hub will aim to facilitate growth in the state's startup industry, which has already produced success stories such as Atlassian, Freelancer, and Campaign Monitor.

"A prosperous start-up community is essential for creating the jobs of tomorrow and by helping to build and support the start-up ecosystem in New South Wales we can encourage a pipeline for future growth businesses and jobs," says Deputy Premier and Minister for Regional NSW, Skills and Small Business, John Barilar.

Jobs for NSW chair, David Thodey, says expressions of interest (EOIs) are invited from business incubators, accelerators and organisations wanting to partner in delivering the Sydney Startup Hub, which will be located in or near the Sydney CBD.

"Over the past six years, high-growth small and medium enterprises (SMEs) that make up just 6 per cent of NSW firms created over 1 million new jobs," says Thodey.

"We want to create more high-growth SMEs by providing a stronger entrepreneurial ecosystem."

Business News Australia

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