NSW Government Invests In A Sydney Start-Up Hub

NSW Government Invests In A Sydney Start-Up Hub

The New South Wales (NSW) government has reportedly invested $35 million in a new start-up hub that is going to open up to 6,500 new jobs in Sydney.

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The New South Wales (NSW) government has reportedly invested $35 million in a new start-up hub that is going to open up to 6,500 new jobs in Sydney.

The hub is supposedly spreading over more than 17,000 square metres and 11 floors, as finextra.com wrote in a recently published article.

The initiative will gather start-up projects from different locations, as the report added.

Deputy premier and minister for small business, John Barilaro, said in an interview:

The NSW Government is pleased to include a fantastic roll call of tenants including; Stone and Chalk, Fishburners, Tank Stream Labs and The Studio. In addition to the 2,500 residents, the hub will welcome regional entrepreneurs from the wider startup ecosystem through the regional landing pad and community and events space.”

Stone & Chalk, an established fintech incubator, has announced that it will host up to 600 residents across two floors and 4,252 square metres of secure labs, co-working, meeting and collaboration space at the new location, marking a significant increase in residental capacity. More specifically, they expand with more than 70 per cent compared to its current space, as finextra.com reported.

“Affordable space remains the single largest barrier to build sustainable startup ecosystems.”, commented Alex Scandurra, CEO of Stone & Chalk.

“Jobs for NSW have done an incredible job of bringing the entire community together, right in the heart of the CBD in an amazing, high tech space.”, as he told finextra.com.

“We expect the size and density of this Sydney hub, along with the growing fintech ecosystem in Melbourne, will help elevate Australian fintech’s status within Asia and the world.”, as FinTech Australia CEO, Danielle Szetho, said, as quoted in finextra`s article.

The Sydney Startup Hub is opening in late 2017 or early 2018. The Melbourne fintech hub is also expected to open soon after.

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