Asia’s largest fintech innovation hub, Stone & Chalk, has announced an agreement with the South Australian government to establish a start-up hub at Lot Fourteen, the largest innovation precinct in the southern hemisphere.
Stone & Chalk has been appointed as a key anchor tenant and operator of the start-up hub, and was selected, through a robust selection process, for its record and leadership in building thriving innovation ecosystems that create exciting new employment and investment opportunities.
Premier Steven Marshall said the SA government was pleased to announce Stone & Chalk as a strategic innovation partner to help South Australia stake its claim in the innovation age.
"We look forward to commencing our partnership with Stone and Chalk, a global innovation leader, as a key anchor tenant for Lot Fourteen and operator of the start-up hub to fulfil our ambition to have the highest rate of business start-ups of any state in Australia," Premier Marshall said.
He added, "Each state in Australia has a limited window of time within which it can create a new and sustainable source of competitive advantage. South Australia provides an ideal environment for entrepreneurs to grow their ideas and take them to market, and the start-up hub will support our local innovators and entrepreneurs to thrive in fast-growing industries such as cyber security, defence, space, artificial intelligence and robotics."
Lot Fourteen is situated alongside the Adelaide Botanic Gardens, within five minutes walking distance from the University of Adelaide, the University of South Australia and the Adelaide CBD.
Stone & Chalk CEO Alex Scandurra said that the Lot Fourteen start-up hub will connect start-ups, scale-ups, mentors, corporations, researchers, investors, creatives and academia in a curated ecosystem that forms a "marketplace for supply and demand in innovation".
"Stone & Chalk might be most readily known for its leadership in nurturing and scaling high-growth fintech companies that are transforming the way we consume financial services," Scandurra said.
"Together with our government and corporate partners, and our key industry associations, Stone & Chalk is creating a national innovation capability and marketplace which is driving the future development of our industries and ultimately the economy. When people talk about the future of work, we are already helping to create it one start-up and scale-up at a time.
"We look forward to supporting the South Australian government with their innovation agenda and seeing the impact of bringing the ecosystems of Sydney, Melbourne and Adelaide together."
Stone & Chalk will soft launch at Lot Fourteen in the third quarter of 2019, and will soon commence the interview and selection process for residency within the precinct.
Stone & Chalk is Australia’s leading start-up innovation hub, home to 800 residents in over 100 full-time start-ups, and supported by 27 local and international corporate partners. As Asia’s largest fintech hub, and one of the leading fintech hubs globally, Stone & Chalk is helping Australia lead the charge in creating the next wave of jobs of the future in the financial services.
Together with its 142 alumni, Stone & Chalk start-ups and scale-ups have secured over $330 million of direct equity investment in less than four years, and have directly created 600 new jobs in the areas of fintech, cyber security, insurtech, data science and connected devices. Stone & Chalk supports its residents through a wide variety of established resident and corporate innovation programs, investor programs, pitch coaching, mentorship and training.
The seven-hectare redevelopment site aims to drive jobs growth in these fast growing industries as well as blockchain, robotics and related technologies, with around 1,000 people expected to be working at Lot Fourteen by late 2019, with more than 40 businesses, including aerospace, technology and innovation giant Lockheed Martin, recently announcing tenancy at the site.
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