A program to encourage and support start-up activity in Western Sydney has received funding from the Australian government’s Incubator Support initiative.
Start-up SydWest, part of Western Sydney University’s existing Launch Pad incubator program, will receive $500,000 to support 30 digital technology start-ups on university campus sites in Kingswood, Parramatta and Liverpool.
Start-ups in the program will have access to mentors, entrepreneur training, professional services, collaborative workspaces, tech support and an expansive university and partner network to help them get their business ideas off the ground and into international markets.
Minister for Jobs and Innovation Senator Michaelia Cash said the digital technology market presented great opportunities for Australian start-ups and the funding would help them to commercialise faster than they otherwise would.
“Digital technologies have immense potential to stimulate innovation, boost our competitiveness, and improve standards of living,” Minister Cash said.
“By supporting start-ups across our economy, the government is continuing to ensure Australian businesses are able to respond positively to technological changes, supporting increased productivity and in turn, more jobs”.
Minister for Small and Family Business, the Workplace and Deregulation Craig Laundy said Start-up SydWest would fill a market gap in incubator services for Western Sydney.
“Incubators are a vital part of an effective innovation ecosystem so the expansion of the Launch Pad incubator program to this part of Sydney will really boost the potential of local start-ups.
“Around nine per cent of Australia’s population, or more than two million people, live in Western Sydney so this funding is great news for this significant and growing region,” Minister Laundy said.