evidoria

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Good practice Imported

Sydney Startup Hub — NSW Government Innovation Campus

Australia · Sydney · See the Australia profile · See the Sydney profile

Evidence: Descriptive / self-reported Top 89% 48/100 · Ask Evidence Copilot about this practice

NSW Government's AUD $35M co-working hub (2018–2025), 17,000 m² on 11 floors at 11 York St Sydney. Housed 1,800+ startups that created ~6,000 jobs and raised ~AUD $1B. Transitioned to Tech Central, 477 Pitt St, in September 2025.

35 million AUD
NSW Government investment
17,000 m² across 11 floors
Floor space
1,800+
Startups incubated (2018-2025)
~6,000
Jobs supported (2018-2025)
~1 billion AUD
Capital raised by residents (2018-2025)
280 million AUD
Two-year milestone capital raised (2020)

Details

Maturity
Discontinued
Promoter
Stone & Chalk / NSW Government (Investment NSW)
Period
2018–2025
Keywords
startup hub, co-working, government-backed innovation, tech, fintech, deep tech, southern hemisphere

Context

The Sydney Startup Hub opened in 2018 at 11-31 York Street following an AUD $35 million NSW Government (Jobs for NSW fund) commitment. Spanning 17,000 m² across 11 floors above Wynyard Station, it co-located four independent operators — Stone & Chalk, Fishburners, Tank Stream Labs and The Studio — plus a Regional Landing Pad for interstate startups.

Results

Over its seven-year tenure the hub incubated 1,800+ startups, supported approximately 6,000 jobs, hosted over 1,800 events, and residents collectively raised approximately AUD $1 billion; a two-year milestone (2020) documented 1,000+ jobs and AUD $280 million raised.

Conclusions

In late 2024 the Minns Government announced the hub was 'not commercially viable and not fit for purpose', triggering a transition to the smaller Tech Central facility (8,000 m², 477 Pitt Street); the York Street site closed in September 2025, and Fishburners entered voluntary administration in May 2026 — illustrating the difficulty of sustaining large-scale subsidised co-working beyond the initial grant period.

Implementation
Indicative cost
High (€500k–€5M) — AUD $35 million NSW Government capital commitment (2017/2018); the successor Tech Central facility is smaller (8,000 m² vs 17,000 m²).
Time to results
Long (> 3 years)
Staffing & skills
Stone & Chalk, Fishburners, Tank Stream Labs, The Studio (four independent co-located operators), NSW Government (Investment NSW / Jobs for NSW fund)

Conditions for success

  • AUD $35M NSW Government (Jobs for NSW fund) capital commitment
  • Multi-operator co-location model spanning four independent organisations plus a Regional Landing Pad for interstate startups

Common failure modes

  • Minns Government deemed the hub 'not commercially viable and not fit for purpose' in late 2024, prompting closure
  • Co-tenant Fishburners entered voluntary administration in May 2026, reflecting structural challenges for large subsidised co-working incubators dependent on public funding

Commonly funded by

National / regional programmes

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Data sources

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