Microsoft moves into new startup hub in Sydney

nsw sydney startup hub

nsw sydney startup hub
In Sydney the government of NSW- New South Wales has officially started a new hub and declaring Microsoft as its main occupant.

On Wednesday morning Gladys Berejiklian NSW Premier, inaugurated the hub, saying it would generate job opportunities in thousands throughout the whole state and it will cater to close to 25 hundred entrepreneurs.

“NSW we know is already leading Australia when it comes to the startup community, but now we are a global and regional leader,” Berejiklian said.

“NSW is always edging beyond the 40 percent mark for the proportion of startups we have in the nation, and I’m convinced we’ll become at least half the startup capital of the nation in a short amount of time.”

Extending higher than 11 floors and covering over 17,000 square meters, The Sydney Hub is located on the street of York and is set to generate 6500 new jobs in state. This was only possible with more than five years of investment of about AU$35 million, Led by David Thodey a Telstra CEO former, endowed by jobs for NSW.

The government of the state declared three major motives behind the Hub: More startups from regional NSW and non-IT industries generating new jobs, to increase strength and size of startup community of Sydney and to encourage the startup community NSW diversity.

The Studio, Stream Lab, Stone &Tank, Chalk, s & Fishburners all are tenants, either they are adding new branch or moving their existing co-working spaces.

Microsoft Scale-Up accelerator program is consider by Microsoft as a global hub in one among eight locations, it will majorly cover quantum computing said by Berejiklian.

Launched in 2012, Scale-Up by Microsoft has enabled close to 650 new ventures to generate funds of $3 billion in programs which are based in Shanghai, Bangalore, London, Seattle, Berlin, Tel Aviv and Beijing, according to Steven Worrall, Microsoft managing director of Australia.

“Our aim is to be the ‘glue’ that connects the startup ecosystem in Australia,” Microsoft Australia managing director Steven Worrall said. “Being part of the Sydney Startup Hub enables us to realize that ambition. For any business to succeed, it needs strong local and global connections, and we believe Microsoft can help a startup be global from the outset.”

Microsoft has promised campaigns like investor pitch opportunities, CEO Sessions & hackathons during their occupancy at the Hub.

“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 startup community,” Berejiklian added.

“The most important thing for me is jobs growth; jobs for people in different industries across the board. And not just jobs that we’ve heard of today, but jobs for the future, literally things that we can’t even imagine.”

In order to help small to medium-sized enterprises government of NSW in its recent 2017- 2018 budget revealed It will invest as much as AU$2.2 billion across business related and skills training initiatives.

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