Innovation finds a new launching pad
SURFERS Paradise looks set to be the Gold Coast’s new home for innovation.
Opmantek’s Danny Maher and Sharon Hunneybell — the architects of the Gold Coast Hub — have their sights set on opening the centre for start-ups and investors in Surfers Paradise in November.
They aim for the hub to be a physical and virtual space for today’s business leaders and those of the future to connect, commercialise and grow innovative companies.
Their plan was given a significant boost yesterday when the State Government
announced $500,000 in funding from the Advancing Regional Innovation Program over three years.
Mr Maher said the hub’s partners, which includes corporate advisory firm New Wave Capital and global trade exchange business BPS
Technology, had also pledged $600,000 in cash and $700,000 of in-kind donations for the hub.
He said one of the hub’s goals is to pull together the highly-fragmented innovation sector into one space.
“We do not want to recreate anything. We have to join the dots in the ecosystem,” he said.
“What these funds enables us to do is draw the whole ecosystem together.
“It allows us to hire people to co-ordinate the sector.”
Mr Maher said 1000 people had signed up for the hub since it was announced in April.
He said, to his surprise, several applicants were companies with revenue between $500,000 and $2 million.
“They already have a product and customers,” he said. “They want to know: what do I do from here?”
He said they have found 600sq m premises in central Surfers Paradise for the hub, to include coworking, business incubation and event spaces, and expect to sign a lease in the near future.
Mr Maher said private equity and venture capital had pledged more than $60 million to finance companies from the hub that can meet the funds’ investment criteria.
Ms Hunneybell said the Gold Coast could lead the country in innovation.
“We are thrilled with the level of support that we have received from investors, corporate partners and the community and are excited to have government buy-in for our vision for a more diverse economy,” she said.