Innovation gets a boost in Wollongong
21 July 2016
The University of Wollongong’s new building for the iAccelerate Centre was officially opened this week.
The new state-of-the-art centre will help university staff and students, and innovative Illawarra businesses, turn new technology into flourishing companies.
The three-storey building represents a major leap into the future, featuring a ‘plug and go’ expandable space for more than 280 entrepreneurs.
iAccelerate supports local start-up businesses with mentorship, professional services and access to a vital network of investors and encourages people to explore new ideas and technologies, take risks and connect their work with others. It also offers a set of tailored acceleration programs aimed at rapidly developing technology-focused businesses.
Supported by the NSW Government
The NSW Government contributed $16.5 million from the Restart NSW Illawarra Infrastructure Fund to support the new building.
The investment supports the NSW Government’s commitment to broaden the Illawarra’s economic base from mining and heavy manufacturing industries to help the region generate and embrace the businesses and jobs of tomorrow.
The NSW Minister for Industry, Anthony Roberts, represented the Premier at the official opening of the new iAccelerate Centre.
Since 2012, iAccelerate has supported 65 start-up companies, creating 143 jobs. Nine companies have had new product launches and in 2015, six companies expanded their international presence.
Female co-founders currently make up 47% of iAccelerate’s 32 start-up companies.
With its new purpose-built home, iAccelerate is certain to produce even more winners for the Illawarra and for NSW.