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Bega Valley to benefit from Innovation Hub

21 June 2018

The Turnbull Government will attract new start-up businesses and offer opportunities for existing businesses to grow in the Bega Valley through a new partnership with the University of Wollongong.

The $382,000 grant to establish a new Innovation Hub will create jobs and opportunities for the local community, and is part of the Turnbull Government’s plan for a stronger economy.

The grant will be used to develop a Bega Valley innovation hub, which will deliver support and education to local people with business ideas. The support will include:

  • three structured incubator programs;
  • assisting sixteen new start-ups with 30 new business ideas;
  • national and international mentoring;
  • network development and seed funding;
  • eighteen capacity workshops for start-ups, scale-ups and SMEs, and one regional innovation expo;
  • youth innovation programs to over 900 students; and
  • links to Canberra, Wollongong, Sydney and Melbourne accelerators.

Minister for Jobs and Innovation Senator Michaelia Cash said the hub would provide more employment opportunities in the region.

“The iAccelerate regional initiative will bring significant opportunities to the Bega Valley, a region that is looking to grow business and employment opportunities,” Minister Cash said.

Minister for Small and Family Business, the Workplace and Deregulation Craig Laundy said the hub would help encourage new regional start-up businesses and assist in the testing of a range of products.

“It will help grow new businesses and diversify the regional economy, which is set to thrive under the expertise and resources the hub will attract,” Minister Laundy said.

Senator for New South Wales and Eden-Monaro local Jim Molan said he was delighted the Bega Valley would play host to the innovation hub, which would help build the emerging innovative ecosystem of the local region.

Changes to the Incubator Support initiative were introduced late last year to provide more support for regional incubator projects.

The funding for UOW and the Bega innovation hub follows the announcement last month of four Regional Incubator Facilitators to assist regional applicants by providing advice and supporting them through the application process.

“I strongly encourage all entrepreneurs and start-ups in the Bega Valley to consider whether the new innovation hub could help develop their ideas into new businesses,” Senator Molan said.

Further information about the Incubator Support initiative, and the Regional Incubator Facilitators, can be found at: www.business.gov.au/assistance/incubator-support

Media contacts: 
Minister Cash's office 02 6277 7320
Minister Laundy's office 02 6277 7610
Senator Molan's office 02 6277 3695