Stone & Chalk fintech hub launched
4 September 2015
Today marked the launch of the not-for-profit financial technology 'hub' Stone & Chalk at 50 Bridge Street in Sydney's CBD.
Financial services technology, or fintech, is one of the fastest-growing segments of the global financial services industry. Worldwide investment in fintech ventures tripled to $12.21 billion in 2014.
NSW's first fintech hub
Stone & Chalk, NSW's first fintech hub, designed to support the State's rapidly growing financial technical services sector opened earlier this month, in premises almost double the size originally planned after outgrowing its first home before even moving in.
Stone & Chalk provides office space, mentoring, networking, export support and opportunities to access capital. It seeks to drive collaboration between industry players as well as regulatory agencies and government. Providing room for 200 start-ups in 2300 square metres of office space, Stone & Chalk outgrew its original 1230 square metre premises before it opened.
Stone & Chalk will attract international fintech talent to Sydney, develop and support the local industry, and increase NSW's financial services exports.
Sydney leading the nation in technology start-ups
As Australia's financial capital, the centre of Australia's ICT industry and leader in technology start-ups, Sydney is the ideal home for a fintech hub. It's also home to a A$60 billion financial services industry, which contributes 5% of national GDP.
Growing the fintech sector in Sydney will further cement the city's reputation as a global leader in innovation in the financial services industry.
NSW Government's commitment to innovation
Stone & Chalk is an example of the NSW Government's commitment to helping innovative companies develop and grow, and create jobs for the future.
NSW Premier Mike Baird announced the formation of Stone & Chalk in March 2015, and the project is supported by the NSW Department of Industry through its Knowledge Hubs Initiative.
Minister for Industry, Resources and Energy, Anthony Roberts, today launched the not-for-profit financial technology 'hub' Stone & Chalk at 50 Bridge Street in Sydney's CBD.
For more information visit the Stone & Chalk website.