A new “Innovation Hub” for Bega is touted to create plenty of opportunities for start-up businesses and employment in the region.
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Federal Minister for Jobs and Innovation Senator Michaelia Cash told the Bega District News a $382,000 grant to establish the innovation hub will be officially announced on Thursday, June 21.
The federal grant is adding to plenty of local support and the backing of University of Wollongong’s business incubator program iAccelerate.
The grant application submitted by the UOW Bega campus has been backed by the Bega Valley Shire Council, Bega Cheese, the Bega Chamber of Commerce and other local business groups.
The hub will attract new start-up businesses and offer opportunities for existing businesses to grow in the Bega Valley through a new partnership with the University of Wollongong.
One of the key instigators, Liam O’Duibhir of 2pi Software and the Bega Co-Working Space (COWS), said the nominal value on establishing the hub is around $600,000.
“This is the culmination of around eight years work – and really a vindication and validation of all that time working towards this,” Mr O’Duibhir said on Wednesday.
“In 2011, we held the first ever Bega Valley start-up camp at the Pambula surf club, with about 15 people showing up.
“Nobody believed we could take this forward, but since then we’ve had annual start-up camps, we’ve had Innovation Week, we’ve had Hackathons and Gamer Dev-Jams, the AgTech Days…
“For a town of about 5000 and a regional area of 30,000 this is absolutely phenomenal to see this investment into regional entrepreneurship.”
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Mr O’Duibhir said he was particularly heartened to see a map highlighting innovation hubs in Sydney, Canberra, Wollongong, and now Bega.
“I’s a really lovely feeling seeing us on that map among the centres of excellence for innovation and incubation,” he said.
The funding for UOW and the Bega Innovation Hub follows the announcement last month of four Regional Incubator Facilitators to assist regional applicants by providing advice and supporting them through the application process.
The innovation hub will be based at the UOW Bega campus and offer support and education including:
- three structured incubator programs;
- assisting 16 new start-ups with 30 new business ideas;
- national and international mentoring;
- network development and seed funding;
- 18 capacity workshops for start-ups, scale-ups and SMEs, and one regional innovation expo;
- youth innovation programs to over 900 students; and
- links to Canberra, Wollongong, Sydney and Melbourne accelerators.
“The iAccelerate regional initiative will bring significant opportunities to the Bega Valley, a region that is looking to grow business and employment opportunities,” Minister Cash said.
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Co-signatory to the grant application Zachary Sequoia said he was “very, very excited” to hear news the Innovation Hub had attracted the federal government support.
“This will mean a lot for the whole shire,” he said.
“We’re not just focused on tech startups, but increasing digital fluency across a whole range of sectors. In particular there’s a strong emphasis on ag tech and industry.
“iAccelerate is our content provider and seed funding for the hub – for them to say Bega was number one in terms of where to invest next was very flattering for us.”
Senator for NSW and Eden-Monaro local Jim Molan said he was delighted the Bega Valley would play host to the innovation hub, which would help build the emerging innovative ecosystem of the local region.
“I strongly encourage all entrepreneurs and start-ups in the Bega Valley to consider whether the new innovation hub could help develop their ideas into new businesses,” Senator Molan said.
Minister for Small and Family Business, the Workplace and Deregulation Craig Laundy said the hub would help encourage new regional start-up businesses and assist in the testing of a range of products.
“It will help grow new businesses and diversify the regional economy, which is set to thrive under the expertise and resources the hub will attract,” Minister Laundy said.
Further information about the Incubator Support initiative, and the Regional Incubator Facilitators, can be found at www.business.gov.au/assistance/incubator-support