Sydney will be home to a world leading startup and innovation hub, after the NSW Government pledged to inject $35 million into the project.

Sydney Startup Hub, the first of its kind in the Southern Hemisphere, is expected to create 6,500 new jobs.

Set to open before the end of the year, the new hub will help strengthen Australia’s start-up community, allowing entrepreneurs to develop innovative business ideas.

NSW Premier Gladys Berejiklian said Jobs for NSW will fund the hub, which will be spread over more than 17,000 sqm and 11 floors on York Street in the Sydney CBD.

The new hub will accommodate some 2500 residents.

The Sydney Startup Hub project joins the planned technology hub in the 10ha White Bay Power Station, which is being redeveloped by UrbanGrowth NSW.

Unprecedented investment

“This is an unprecedented investment from the NSW Government, which will support businesses and drive jobs growth across the State,” Ms Berejiklian said.

“When Sydney Startup Hub opens it will be in a central location to help both local and international entrepreneurs flourish.

“More than 40 per cent of the nation’s startups are in NSW already and with the addition of this hub and the White Bay precinct we want to see that figure grow.”

Deputy Premier and Minister for Small Business, John Barilaro, said: “The Sydney Startup Hub will support businesses, turbocharge the startup ecosystem, and drive job creation across the State.”

Tenants include Stone and Chalk, Fishburners, Tank Stream Labs and The Studio.

“The hub will welcome regional entrepreneurs from the wider startup ecosystem through the regional landing pad and community and events space,” Mr Barilaro said. 

For further information visit: www.jobsfornsw.com.au