Brisbane’s $5 million innovation hub The Capital opens doors to 200 startups

- October 20, 2016 2 MIN READ
The Capital

Brisbane’s new $5 million innovation hub, The Capital has today opened its doors to 200 startups. The investment into the hub looks to create hundreds of new jobs in Queensland and aims to boost its startup ecosystem.

Lord Mayor Graham Quirk said the location of The Capital in the heart of Brisbane’s CBD will provide startups with exposure to corporate and government customers, an exposure, which is crucial to helping startups grow and find investment.

“Innovation is an industry that is critical to our future economic growth and will continue to be a major stimulant of job creation for our city,” said Quirk.

“The Capital will continue Brisbane’s momentum as a centre for innovation in the Asia Pacific region and ensure the city continues to thrive in this rapidly globalising economy.”

Anchor tenants for the new space, Sydney-based Fishburners and Brisbane’s Little Tokyo Two will help cultivate the city’s startups through their business life-cycle.

Jock Fairweather, founder of Little Tokyo Two, said he is happy to expanding his organisation’s “style of workplace and culture” into the CBD.

“The new location will provide even more flexibility and room for our members to continue their journey with us and the physical co-location with industry experts and organisations will provide unprecedented opportunities for them too,” he said.

Fishburners CEO, Murray Hurps said Brisbane was the ideal location for his company’s next Australian venture outside of its Sydney base.

“Brisbane has a strong entrepreneurial spirit and has a track record of producing ground-breaking startups with world-changing ideas,” Hurps said.

Thanks to the support of the City of Brisbane, Hurps said Fishburners will now be open to new high-impact, scalable startups looking to create something big in a collaborative community.

Nurturing Brisbane’s startup ecosystem and creating a dynamic innovation hub was one of the seven key economic priorities outlined in the Brisbane 2022 New World City Action Plan. The Plan was created to define the priorities that will drive Brisbane’s economic growth for the next seven years and beyond.

Compiled by the Lord Mayor’s Economic Development Steering Committee and handed to Lord Mayor Graham Quirk in 2015, the Plan followed a three month consultation with more than 1,000 people representing over 500 different local, national and international organisations. The plan created an economic blueprint, presenting the opportunity for Brisbane to become the leader of urban success.

Quirk said The Capital will house the city’s peak small business and startup education programs, Digital Brisbane, as well as Brisbane’s chief digital officer. Also running from the hub will be programs including Power-Up and the Visiting Entrepreneurs Program.

In the last year Brisbane startups have been making headway in both local and international markets. Earlier this month startup Gruntify signed an MOU with the Dubai Government to explore collaboration in the Middle East and solar energy startup Redback Technologies announced a $9.3 million investment from Energy Australia.

Image: The Capital. Source: Supplied.