The new Sydney Startup Hub will host Microsoft’s eighth ScaleUp program, the tech company announced this morning.
“This is a resounding acknowledgement of both the quality and potential of Australian tech start-ups and entrepreneurs,” Microsoft Australia managing director Steven Worrall said in a statement.
“It is also recognition of the important role Governments across Australia continue to play in fostering a strong start-up ecosystem and providing the infrastructure, such as the Sydney Startup Hub, to support and grow the next generation of Australian tech businesses.
“Our aim is to be the ‘glue’ that connects the start-up ecosystem in Australia. Being part of the Sydney Startup Hub enables us to realise 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.”
The ScaleUp program, which has been running for five years, provides business and technical support for startups.
Some 730 companies have been through Microsoft ScaleUp, which runs for around four months.
Microsoft recently revealed that former Fishburners CEO Annie Parker would be the global lead for the company’s startup programs.
The new hub was officially opened today by New South Wales Premier Gladys Berejiklian and Deputy Premier John Barilaro.
“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 start up community,” Berejiklian said in a statement.
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The state government in July last year announced it would back a $35 million startup and innovation hub in Sydney that it said would help create up to 6500 jobs in NSW.
The hub has been funded by Jobs for NSW and the Future Transport Digital Accelerator, Stone and Chalk, Fishburners, Tank Stream Labs and The Studio are early tenants at the hub, which is located in York Street in Sydney’s CBD.