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Goods Shed to become FinTech hub

28 Jun 2017

Goods Shed to become FinTech hub Image

Docklands is set to be home to Victoria’s first financial technology (FinTech) hub, with the State Government releasing a request for proposal from operators wanting to help establish the hub at the Goods Shed North.

The government is calling for experienced innovation hub operators to submit proposals to launch the FinTech hub, a concentrated and collaborative workspace dedicated to small FinTech businesses, at 710 Collins St.

The hub operator will be responsible for targeted mentoring, incubation and accelerator services to help start-ups develop new business skills, expand their customer base and efficiently market and sell their products and services.

The resident FinTech start-ups will be able to utilise more than 1500sqm of floor area with shared access to meeting, recreation, dining and event spaces.

Minister for Small Business, Innovation and Trade, Philip Dalidakis, said the FinTech hub could boost digital innovation in Victoria.

“This FinTech hub will turbocharge our start-up ecosystem and attract new investment that will strengthen our professional services industry and create jobs,” he said.

The State Government may provide funding and in-kind support for the hub for an initial three years, from 2017 to 2019.

Government assistance may include: contributing to the cost of design and fit-out, covering part or all of the rental costs, making additional floor space available overtime, ongoing engagement, supporting interstate and overseas trades and networking opportunities and staging or attracting major conferences.

Proposals will be evaluated by early August and agreements will be made by early September, with the hub expected to commence operations as soon as possible.

If established, the FinTech hub will join the Data61 cyber security and innovation hub at the Goods Shed North and further enhance Docklands’ position as Victoria’s innovation centre.

Finance and insurance, Victoria’s largest industry, contributes $40 billion to the state economy each year.

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