Cremorne Digital Hub’s Scaleup Program aims to fuel the next level of Australian digital investment and innovation growth.
Australia’s ability to nurture fledgling startups has improved significantly with the Victorian startup ecosystem alone jumping from $50 billion to $91 billion in the last three years.
Yet, support for rapidly scaling companies is well behind other countries such as the US.
Australia’s scaleup funding gap is set to reach $53 billion by 2030 according to the Tech Council of Australia, plus local scaleups face challenges when it comes to talent, infrastructure and regulation.
Cremorne Digital Hub (CDH) is a Victorian Government-backed innovation hub helping to grow the state’s digital capabilities and innovation. Its new CDH Scaleup Program is supporting fast-growing local tech
companies to supercharge Victoria’s track record in building global tech companies, says Partner Engagement & Activation Lead Julie Stevens.
“We are already great at nurturing early-stage startups but need to make it attractive to find success and build jobs locally rather than watching them fly away,” Stevens says. “It’s those growing pains around issues like funding, talent and support that can leave scaleups feeling that they have no choice but to look elsewhere.”
Minister for Jobs and Industry, Natalie Hutchins says ”More and more we are seeing tech companies with roots in Victoria growing to become industry leaders. The Cremorne Digital Hub Scaleup Program will help even more local tech companies to become well-known global tech brands.”
