NSW govt unveils new strategy for startup hub Tech Central
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The news: The NSW government has announced changes to its technology and innovation hub, Tech Central, including new support from Investment NSW and the transition of the Sydney Startup Hub into Tech Central.
The numbers: Tech Central is a six square kilometre precinct in Sydney, that currently hosts the highest concentration of technology businesses in Australia, including Atlassian, Block, Canva, Safety Culture and Rokt.
The Sydney Startup Hub is home to Stone & Chalk, Tank Stream Labs, Fishburners, Microsoft Reactor and Antler, among others, and has been home to nearly 2000 startups since it was launched by the former Coalition government in 2018.
The context: Investment NSW will be responsible for attracting investment and talent into Tech Central, with the aim of facilitating better coordination between startups, research institutes, and universities. It also aims to ensure alignment of existing and future NSW government programs with hub residents’ needs.
Meanwhile, the Sydney Startup Hub will move to a location within Tech Central in October 2025. The NSW government hopes the move will foster more collaboration between founders, entrepreneurs, investors and corporates, and the surrounding universities and research institutions.
It will also release an "innovation blueprint" in the coming months, which will explore a new accommodation model at Tech Central, including refreshed services and support for businesses at all stages of growth.
What they said: "We are proud of Tech Central being Sydney’s heart of innovation, but there is potential for it to be much more," said minister for innovation, science and technology Anoulack Chanthivong.
"Specialist support within Investment NSW will scale existing work in investment attraction, brand promotion, and community building to improve the district’s economic potential."
Co-Founder and CEO of Atlassian, Mike Cannon-Brookes, said: "Today’s announcement helps breathe life into Tech Central, because a precinct without people is just buildings, it’s not a community".
The source: NSW government media release
