Federal Incubator Funding announced as a boost for local tech start-ups
(L-R) Professor Scott Holmes, The Hon. Minister Laundy MP, Don Wright, and Dr Andy Marks.
Western Sydney University’s Launch Pad Technology Business Incubator (opens in a new window) has been announced as the recipient of a competitive Federal Incubator Funding grant.
The Hon. Craig Laundy MP, Minister for Small and Family Business, the Workplace and Deregulation, announced the outcome of the Australian Government’s Incubator Support Initiative at the University's Penrith campus.
Launch Pad will receive $500,000 as part of the Initiative, which aims to assist Australian start-ups in developing the capabilities to achieve commercial success in international markets.
Minister Laundy with Alf Leahy, demonstrating the 360 degree photo technology which is utilised in teaching by the University's School of Computing, Engineering and Mathematics.
Dr Andy Marks, Assistant Vice-Chancellor of Western Sydney University, said the funding will be used to establish a unique business accelerator program at Launch Pad, called “Start-up SydWest”.
“Start-ups in western Sydney experience a lack of local support. Start-up SydWest will fill a gap in this market; unlock the potential for large scale start-up activity in the region; and significantly impact the capacity for innovation in western Sydney,” said Dr Marks.
Working across three university campus sites in Penrith, Parramatta and Liverpool, Start-up SydWest will offer services to 30 start-ups – with a focus on supporting businesses in high-growth sectors such as medtech, edu-tech, agri-business and advanced manufacturing.
Minister Laundy with Joel van de Vorstenbosch and Boramy Unn, demonstrating Alta VR technology.
Don Wright, the Head of Launch Pad at Western Sydney University, said Start-up SydWest will expand on the existing services offered by Launch Pad, by upscaling current activities to deliver increased mentoring, training and commercialisation support to develop new high-tech products and services.
“Start-up SydWest will help start-ups to infuse technologies – such as data analytics, artificial intelligence, machine learning, virtual reality and additive manufacturing – and help tech start-ups access Asian markets, particularly in China, India and Vietnam,” said Mr Wright.
During a tour of the Launch Pad facilities at the University's Penrith campus, Minister Laundy commended the University for "cultivating the entrepreneurial flair" of start-ups in western Sydney.
Background on Launch Pad
Launch Pad (opens in a new window) was established by the University in 2015, in partnership with the state government and a range of corporate sponsors, to drive innovation in western Sydney and establish the region as a globally competitive tech and innovation hub.
A one-stop shop business and innovation support program, Launch Pad provides facilities, assistance and resources for start-up and existing high growth technology based businesses in Western Sydney.
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