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The NSW Government in Australia has injected $35 million AUD into an all-new project to support the growing startup landscape in Sydney. Anticipated to create up to 6,500 new jobs across many burgeoning ventures, startup culture and the entrepreneurial spirit is set to thrive.
In a project said to be the first of its kind in the southern hemisphere, the NSW government is pressing ahead with the creation of an 11-storey, 17,000 square metre space dedicated to entrepreneurial endeavours: the Sydney Startup Hub. Existing startup spaces Fishburners, Tankstream Labs, The Studio, and FinTech specialist Stone & Chalk will be taking tenancy.
The co-working dynamic that has helped places like San Francisco and Silicon Valley blossom as hotbeds of innovation is in relatively new beginnings in Sydney, but a surge of demand has many co-working spaces running at capacity. Fingerprint for Success research has shown that successful entrepreneurs flourish in a group environment, where they can easily share ideas and engage in positive collusion with coworkers and peers.
Jobs For NSW chairman, David Thodey, said the space will be purpose-built to support a collaborative culture.
"Early-stage businesses thrive on collaboration and this is designed to make it as frictionless as possible," he said.
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