Microsoft has selected Sydney as the eighth location of its startup program ScaleUp, joining the likes of Seattle, Beijing, Berlin, and London.
The program will be housed in the Sydney Startup Hub, a $35 million 11-floor co-working space that opened last year as part of the Jobs For NSW program.
“This is a resounding acknowledgement of both the quality and potential of Australian tech start-ups and entrepreneurs,” Microsoft Australia managing director Steven Worrall said.
“It is also recognition of the important role governments across Australia continue to play in fostering a strong startup ecosystem and providing the infrastructure, such as the Sydney Startup Hub, to support and grow the next generation of Australian tech businesses.”
He added that Microsoft aims to be the “glue” that connects the start-up ecosystem in Australia and being part of the Sydney Startup Hub enables it to realise that ambition.
“For any business to succeed it needs strong local and global connections and we believe Microsoft can help a startup be global from the outset.”
Microsoft ScaleUp is a four-month program that helps startups in get off the ground quicker through access to expert guidance that can help expedite processes, focusing on both business and technical development.
The company also said it is in the process of recruiting a managing director to lead the Sydney ScaleUp program and expects to run its first four-month program before the end of this year.
NSW deputy premier John Barilaro said the program is a “huge vote of confidence” in Sydney, its economy and the people in the startup community.
“Within Microsoft, there is enormous competition to secure Microsoft ScaleUp for different countries, so it’s an incredible result to see Sydney chosen as the newest location to host this sought-after and highly-acclaimed program,” Barilaro said.
“Last July the NSW government committed $35 million to create a world leading startup and innovation hub and today we can see what has been created. Without the its investment in the Sydney Startup Hub, it certainly would not have been possible to attract a program of Microsoft’s calibre to Sydney.”