Government announces funding boost for NSW South Coast start-up businesses

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Image credit: www.industry.gov.au

The Bega Valley Innovation Hub has received $250,000 in funding under the Federal Government’s Incubator Support Initiative to help regional business owners access its specialised business acceleration program.

In making the announcement, Industry, Science and Technology Minister Karen Andrews said the funding would further support businesses in the region to recover and thrive after the devastating bushfire season and COVID-19 pandemic.

“This funding will allow more entrepreneurs to connect and collaborate with their local community and access high quality business advice so they can get back on their feet,” Minister Andrews said.

“In partnership with the University of Wollongong and the iAccelerate network, the Bega Valley Innovation Hub will also support up to 20 new start-up businesses and create a number of new skilled new jobs, boosting employment and economic recovery in the region.

“This support builds on other assistance we’ve provided through the Entrepreneurs’ Programme’s Strengthening Business service, which is dedicated to getting businesses affected by the bushfires back on track.

“The Government will continue to support the ingenuity and determination of small businesses, which are essential to a strong and diverse economy.”

Docklands based Hatch Quarter – a start-up incubator that offers entrepreneurs a co-working space – received a $250,000 grant to support first generation migrant and refugee start-ups looking to expand into the Middle East and North Africa region.

Other recent recipients of Incubator Support Initiative grants include Western Sydney University, which will use its $250,000 grant to establish the ‘Startup SydWest-Global Connections’ accelerator program, and CoHort Space Pty Ltd, a Queensland-based incubator, which will use its $150,000 grant to develop and facilitate one of the state’s first health and wellness accelerator programs.

Applications for an Entrepreneurs’ Programme’s Incubator Support Initiative and Strengthening Business service can be made here.

Image credit: www.minister.industry.gov.au

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