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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.

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