Biggest startup hub in the Southern Hemisphere proposed for Sydney CBD
The Berejiklian state government has announced a $35 million investment in an 11-floor startup hub on York Street, Sydney. It will be the “biggest and boldest” hub in the Southern Hemisphere. Nic discussed the hub with the CEO of StartupAUS, Alex McCauley.
McCauley supports the plan, referring to StartupAUS’ 2016 Crossroads report, which recommended that the “country needs to be developing big, dense, international-scale hubs”.
McCauley believes that close proximity to public transport, the high-level of density and government support will allow the hub to work. Existing incubators, who are currently “bursting at the seams”, will be able to double or triple in size and the hub will provide a focal point for investors.
According to McCauley, although only 17% of Aussie startups have one or more female founders, Australia is one of the best places to be a female tech entrepreneur.
McCauley also believes that Australian visa regulations should reflect the impact immigrants have on economic growth. Immigrants, or their children, make up 61% of startup founders in Australia, perhaps reflecting “real entrepreneurial drive for people who … are prepared to start something new and build”.