New South Wales tech startups are set to benefit from a new partnership between the state government and global investment firm Techstars. Techstars, one of the largest pre-seed investors in the world, will join Sydney’s “Tech Central” employment and innovation corridor, providing local tech start-ups with access to funding and mentorship. Applications for the accelerator program will open on Monday.
The partnership is part of the NSW Government’s commitment to supporting the state’s tech sector. The government has invested more than $1 billion in tech infrastructure, skills and research to create a strong tech ecosystem and spur economic growth. The Techstars partnership will further the government’s goal of making NSW a global leader in innovation and technology.
The accelerator program will provide early-stage start-ups with access to funding and mentorship to help them grow. Techstars will provide $120,000 in funding as well as mentorship and guidance from experienced entrepreneurs and investors. The program will also connect start-ups with a global network of experienced entrepreneurs and investors who can help them scale their business.
For a period of 13 weeks each year, 12 fortunate candidates will be granted access to mentors, a network of corporate connections, investors, and alumni. The program will center on early-stage founders who are constructing businesses related to AI, fintech, advanced manufacturing, cloud computing, robotics, cyber security, quantum computing, creative tech, and climate tech.
Alister Henskens, Minister of Enterprise, Investment, and Trade, stated that the inclusion of Techstars will solidify Tech Central as an international hub of innovation. This precinct is comprised of six areas close to the city center, which house universities, researchers, entrepreneurs, and innovators, like the software business Atlassian.
