Comments from StartupAUS CEO, Alex McCauley
“The NSW Government’s plan to establish a new supersized startup hub in Sydney is good news for NSW and the broader Australian startup economy as a powerful stimulus to create new high-growth businesses and jobs across the State.
“One of StartupAUS’ key recommendations in its 2016 Crossroads Report is for governments at all levels to work with industry to establish a national network of innovation districts in major cities. It’s great to see this starting to happen.
“Startups are powering jobs growth here and overseas and it’s great to see the NSW Government getting behind the development of a high-growth tech ecosystem. Last year the Department of Industry, Innovation and Science released figures showing net job creation comes from early-stage and startup businesses – with young companies creating nearly all of the 1.6 million net new jobs in Australia from 2003 to 2014.
“As Deputy Premier and Minister for Regional NSW, Skills and Small Business, John Barilaro identified, a flourishing startup community is essential for creating the jobs of the future and will ultimately encourage a pipeline for future growth. Startup hubs can act as a focal point for startup-related activities and events, address the current fragmentation of offerings, and provide valuable opportunities for collaboration between startups and larger technology companies.
“This ambitious new proposal could provide the sort of world-class innovation district Australia needs to put itself on the international innovation map. It’s a courageous step in the right direction, and it’s critical we now work to realise the full potential of the project. StartupAUS is committed to working closely with relevant industry stakeholders to help make this one of the most dynamic and effective innovation precincts in the world.”