Sydney’s new startup hub to be the largest in the Southern Hemisphere

Elizabeth Barry 13 July 2017 NEWS

startup

The state government-funded hub will be spread across 11 floors in Wynyard Green.

Sydney's supersized startup hub is gaining traction and new residents, with fintech hubs Stone & Chalk and Fishburners announcing that they will be relocating to the state government-funded hub. The Sydney Startup Hub, announced in February, is set to open in late 2017 and will be the largest in the Southern Hemisphere.

FinTech Australia CEO Danielle Szetho has welcomed the news that Jobs for NSW will invest $35 million in the hub, which will create up to 6,500 jobs.

“The new Sydney Startup Hub will be an important and regionally-significant centre of gravity for fintech and startup innovation within Asia," Szetho said.

“We expect that 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.”

"It is particularly exciting to see that two of our members, the Stone & Chalk fintech hub and Tank Stream Labs, have been confirmed as tenants in the new Sydney facility."

Stone & Chalk announced its plans to take up residence in two of the hub's floors today. The move will enable Stone & Chalk to expand its operations and bring an additional 250 entrepreneurs into its innovation marketplace.

“Having reached capacity in 2016, the move to the Sydney Startup Hub will enable us to continue to support some of Australia's top scale-ups and help the fintech sector contribute to more growth across the country,” said Alex Scandurra, CEO of Stone & Chalk.

“Affordable space remains the single largest barrier to build sustainable startup ecosystems. 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," said Scandurra.

According to Jobs for NSW, the hub aims to:

  • Support the creation of new jobs across NSW
  • Increase the diversity of the NSW startup community with more startups from regional NSW and non-ICT industries
  • Grow the size and strength of the Sydney startup ecosystem

This will be achieved through measures such as the sheer size and density of the hub as well as having a regional landing page to connect the entire NSW startup community regardless of location.

The Victorian Labor Government has also announced plans to establish a financial technology hub in Docklands to support the state's fast-growing technology sector. The Melbourne hub is expected to open late 2017 or early 2018.

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