Tank Stream Labs welcomes the release of the NSW Government’s Innovation Strategy, which targets key areas of concern for many startups in the state.
CEO Bradley Delamare said Sydney should aim to be the leading hub for startups in the region.
“Our sector is the most sensitive to international competition – but the rewards for being a leading startup hub are huge,” he said.
“NSW have made a $10 million commitment today to backing incubators and accelerators. That’s money well spent because for us, because we’re not just competing with hubs in other parts of Sydney or Melbourne but from other cities like Singapore, Hong Kong and elsewhere”.
Research shows that the startup sector could contribute more than $100 billion to the NSW economy and create 540,000 jobs by 2033.
Tank Stream Labs also welcomed the creation of the National Innovation Concierge, saying that it will make existing Government programs more effective.
“What we see with many startups is that they grow to a certain size and then go out and pay a lot of money to consultants to help them navigate Government grant programs and initiatives,” Mr Delamare said.
“But increasingly, the NSW Government is targeting earlier stage startups, which might still just be starting out, with programs such as the Minimum Viable Product program.
“So the Concierge will be a bridge because many startups either don’t know about these schemes or think that they’re just too complicated to apply for them”.
Mr Delamare also said the Ministerial Innovation Committee will help bridge the gap with the public sector, ensuring there is more visibility of issues affecting the sector.
Tank Stream Labs is currently hosting a survey of startups, measuring the ease of doing business with Government, applying for grants and collaborating with Government funded research organisations.
The survey is available online here: https://www.surveymonkey.com/r/ausinnovation
Further information including a copy of the Strategy is available at www.innovation.nsw.gov.au.