“HUGE COUP FOR SYDNEY” – $35M STARTUP HUB TO HOST EXCLUSIVE MICROSOFT ACCELERATOR PROGRAM

The launch of the Sydney Startup Hub, has coincided with an announcement that Microsoft has signed up as a tenant and will run its acclaimed Scale-Up accelerator program from the new $35 million facility.

Announced by the NSW Government in July 2017, the Sydney Startup Hub was funded by Jobs for NSW, which anticipates it will generate up to 6,500 new jobs across regional and metro NSW.

Occupying 17,000 square metres, across 11 floors, on York Street in Sydney’s CBD, the facility counts Stone & Chalk, Fishburners, Tank Stream Labs, The Studio, Slingshot and H2 Ventures amongst the startup support bodies in residence.

In addition to providing space for 2,500 residents, the Sydney Startup Hub is catering for entrepreneurs outside the metro area through a dedicated Regional Landing Pad.

Noting that Sydney is only the eighth location in the world to host Microsoft Scale-Up, Premier Gladys Berejiklian described Microsoft’s decision to join Sydney Startup Hub as “a huge vote of confidence in our city, our economy and the people that make up our startup community”.

In the five years since Microsoft Scale-Up launched, close to 730 companies have graduated from programs run in Bangalore, Shanghai, Beijing, London, Berlin, Seattle and Tel Aviv. In total, Scale-Up alumni have raised US$3 billion in venture capital and had 48 exits. Read more

James Harkness - Dynamic Business - 14 Feb 2018