Both Sydney and Melbourne have announced the creation of startup hubs. Sydney has proposed an 11 floor innovation center that will be the largest in the southern hemisphere. In fact, Jobs for NSW has stated it would invest $35 million in the facility. A Fintech hub was announced by the Victorian Government in June. This will establish a presence at the Goods Shed North in Melbourne’s Docklands.

FinTech Australia says this should help build even stronger links between the Australian Fintech industry and global markets. FinTech Australia CEO Danielle Szetho welcomed the news about the Sydney facility which will reportedly create up to 6,500 jobs and contain enough floor space to spread over the size of two football fields.

The Victorian Government has also confirmed it will be the presenting partner of Australia’s inaugural Fintech festival, known as Intersekt, to be held in Melbourne from late October to early November.

Szetho said that two of their members, Stone & Chalk Fintech hub and Tank Stream Labs have been confirmed as tenants in the new Sydney facility.

Stone & Chalk has announced that it will house up to 600 residents across 4,252 square metres of secure labs, co-working, meeting and collaboration space at the Sydney Startup Hub.

This represents an increase in residential capacity of more than 70% compared to its current space and will cement Stone & Chalk as one of the largest Fintech hubs in the world.

Source: Crowdfund Insider