The soaring 56-storey Salesforce Tower at Sydney’s Circular Quay will be home to a new innovation hub focused on tackling climate change.
Named ‘Greenhouse’, the hub spans 3,800sqm on first three floors at 180 George Street and is due to open next year. It will offer affordable office space for climate tech startups and scaleups, to be run by a subsidiary company of seed investment firm Investible for the next 10 years.
“Greenhouse will help to drive the kind of economy our city needs, and I’m delighted that we are one of the key investors.”
The hub aims to directly support more than 100 ventures in creating more than 1,500 new jobs over a decade and creating pathways for early-stage startup to position Sydney as a global leader in climate tech.
Investible co-founder Creel Price will be Greenhouse CEO.
“We’re designing a space that’s optimised for growth; bringing together a diverse group of investors, experts, partners and advisors to provide climate tech businesses with the nutrient capital, talent, programs and community to grow to their fullest potential,” he said.
The City will sublease the hub space to Investible subsidiary, Innovillage Pty Ltd for 10 years and offer a rental subsidy through its Accommodation Grant Program, providing they demonstrate an ongoing community benefit to the tech startup ecosystem.
Greenhouse is expected to open in late 2022.