New Knowledge Hub could create NSW's own Silicon Valley

21 November 2014

People at a white board

Some of Sydney's leading technology companies have joined forces with local start-ups to establish a new Digital Creative Knowledge Hub with the potential to create NSW's own version of Silicon Valley.

The new Knowledge Hub, Intersection (now known as Piivot), will enable businesses within the sector to share knowledge, support innovation and gain an advantage in an increasingly competitive global market.

NSW is home to 64 per cent of the nation's technology start-ups and around 40% of Australia's total creative workforce and the new Digital Creative Knowledge Hub will seek to leverage the collaborative opportunities that this convergence of sectors provides.

NSW Deputy Premier and Minister for Trade and Investment Troy Grant said Intersection had the potential to foster new levels of innovation in the digital creative sector.

"Digital creative businesses are transforming the global economy and this new partnership has the potential to set the NSW economy at the forefront of international competition," he said.

Intersection is the latest of five NSW Knowledge Hubs, a NSW Government initiative to foster collaboration and innovation in key sectors and a key action under the NSW Economic Development Framework.

Intersection is being led by the University of Technology, Sydney, and includes prestigious partners such as Microsoft and NRMA with Slingshot as well as a myriad of others.

UTS Deputy-Vice Chancellor(Resources) Patrick Woods said NSW is a global leader in digital innovation,but support was needed to help the budding start-up sector thrive.

"For our economy to thrive in a digital age we need a strong start up sector that is well supported by innovative companies and partnerships between education, government and the community," Mr Woods said.

"Intersection has been created to connect large companies with start-ups, develop programs of events, mentoring and internships and raise Sydney's global profile through collaboration."

NSW Trade & Investment provided strategic advice and other support for Intersection.

Note: Intersection rebranded to Piivot in 2015.