13 JULY 2017
Fintech has a new home as
Stone & Chalk anchors new Sydney Startup Hub
Australia’s premier fintech hub, Stone & Chalk today announced that it will be relocating to the iconic Wynyard Green as a part of the NSW State Government funded Sydney Startup Hub, the first incubator of its kind in the Southern Hemisphere.
This move enables Stone & Chalk to significantly expand its operations, helping an additional 250 high-potential entrepreneurs access its suite of world-class programs, and innovation marketplace.
Stone & Chalk’s new Sydney home will span two floors in the new development alongside co-tenants such as Fishburners, Tank Stream Labs, and The Studio. Stone & Chalk will house up to 600 residents across 4,252sqm of secure labs, co-working, meeting, and collaboration space – an increase in residential capacity of over 70% compared to its current space – cementing Stone & Chalk as one of the largest fintech hubs in the world.
“This is a monumental milestone for Stone & Chalk, and more broadly for the Australian fintech scene” says Alex Scandurra, CEO of Stone & Chalk.
“Affordable space remains the single largest barrier to build sustainable startup ecosystems. Jobs for NSW have done an incredible job of bringing the entire community together, right in the heart of the CBD in an amazing, high tech space.
“Having reached capacity in 2016, the move to the Sydney Startup Hub will enable us to continue to support some of Australia’s top scaleups, and help the fintech sector contribute to more growth across the country,” Mr Scandurra said.
In the short 18 months since it launched, Stone & Chalk has become one of the top fintech hubs globally with 24 Australian, and International corporate partners. Stone & Chalk residents have attracted over AU$180m of direct equity investment, and have created 500 direct new jobs in the areas of fintech, cyber security, insurtech, data science, and connected devices. The new space at the Sydney Startup Hub will enable an influx of new startup residents to benefit from its innovation programs, and will also strengthen the connections between new technology, and corporate partners.
“We are leaving no stone unturned,” says NSW Deputy Premier and Minister for Small Business, John Barilaro.
“In addition to the 2,500 residents, the incubator will welcome regional entrepreneurs from the wider start-up ecosystem through the regional landing pad, and community and events space,” he said.
“It’s great to see the Government acknowledge the contribution startups make for the economy,” says Roy Cooke, Founder and CEO of connected car fintech, iungo.
“We’ve been with Stone & Chalk since August 2015. Their programs, and support have been invaluable in helping us commercially launch, and accelerate our growth. This is something that previously, startups like ours would have needed to go abroad to do. The new space will allow others to rapidly scale like we did,” says Cooke.
Stone & Chalk Corporate Partners are also excited about today’s news.
“Offering a partnership with promising startups, connecting them with customers, mentorship, talent, and importantly capital, is a model that ANZ strongly values. This new hub will enable Stone & Chalk to grow, and help even more Australian startup tech businesses succeed,” says Maile Carnegie, Chief Digital Officer, ANZ.
Stone & Chalk at the Sydney Startup Hub is expected to officially open its doors in November 2017. Expressions of interest from startups, and scaleups who wish to apply to the Stone & Chalk community can visit www.stoneandchalk.com.au
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