The Cremorne Digital Hub has entered a new development phase, further cementing Victoria’s position as a key global destination for technology and innovation.
Located at 80 Balmain Street in Cremorne, the digital hub is intended to accelerate the city’s transformation from being a manufacturing centre towards becoming a magnet for high-tech businesses and innovation jobs.
Around 700 businesses and 10,000 workers are already based in the precinct, the Victorian government said in a press statement.
Victoria allocated a $50 million Cremorne Venture Fund to enable the hub to play an active role in commercialisation by investing in exciting new digital companies that can take Victorian innovation to the world.
Cremorne generates over $4 billion in income for the state each year and is already home to some of Australia’s well-known tech companies, including Carsales.com, SEEK, REA Group, and MYOB.
“Cremorne is at the heart of Victoria’s digital boom, and we’re backing the Hub to play a critical role in boosting up our tech sector and attracting more investment and jobs to Victoria,” said Minister for Industry and Innovation Ben Carroll.
The hub recently announced the appointment of its new CEO and board, which will guide its efforts to strengthen Victoria’s tech offering by fostering cross-industry collaboration, investments, and talent and skills in the state.
Mark Sims, an international business leader, will serve as the hub’s CEO, while prominent corporate executive and investor Monique Conheady will serve as the inaugural chair of the Cremorne Digital Hub.
Sims has experience working for several Fortune 100 companies and recently served as the chief operating officer for Hong Kong-based EdTech company Xccelerate.
“The Hub is a powerful platform unifying the brightest minds in business, industry, academia and technology,” Sims said.
Conheady is the co-founder of Australia’s first carshare service Flexicar and the chair of JET Charge, a provider of electric vehicle charging infrastructure.
The hub is being led by a consortium of shareholders, which includes Artesian Venture Partners, the University of Melbourne, RMIT University, and La Trobe University.
