In a major coup for NSW, Microsoft will bring its world-renowned intensive program for start-ups to the new Sydney Startup Hub, making it one of only eight locations in the world to host the accelerator program.
Premier Gladys Berejiklian and Deputy Premier John Barilaro made the announcement, while officially opening the Sydney Startup Hub, which will create thousands of job opportunities across metro and regional NSW.
“Last July the NSW Government committed $35 million to create a world leading startup and innovation hub and today we can see what has been created,” Ms Berejiklian said.
“The decision by Microsoft to move in is a huge vote of confidence in our city, our economy and the people that make up our start up community.”
Mr Barilaro said it would not have been possible to attract a program of Microsoft’s calibre without the NSW Government’s investment in the Sydney Startup Hub.
“Within Microsoft, there is enormous competition to secure Microsoft Scale-Up for different countries, so it’s an incredible result to see Sydney chosen as the newest location to host this sought-after and highly-acclaimed program,” Mr Barilaro said.
Microsoft Australia Managing Director Steven Worrall said the world-class program will accelerate the growth of technology startups.
“Microsoft launched the Scale-Up Program in 2012, and since then, close to 650 startups have raised around US$3 billion in funding after graduating from programs run in Bangalore, Shanghai, Beijing, London, Berlin, Seattle and Tel Aviv,” Mr Worrall said.
On top of Microsoft, the Sydney Startup Hub has already secured a list of impressive tenants including Stone & Chalk, Fishburners, Tank Stream Labs, The Studio, Westpac’s FEULD, H2 Ventures, Slingshot, Transport for NSW’s Future Transport Digital Accelerator, the Department of Finance and Services, and an innovation team from Caltex’s C-Lab.
Mr Barilaro said The Sydney Startup Hub will rival international facilities like Kendall Square in Boston and Station F in Paris.
“Importantly for me, as the Minister for Regional NSW, the Sydney Startup Hub will deliver a dedicated ‘Regional Landing Pad’ for regional startups, and will host events to connect entrepreneurs from the regions,” he said.