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The imminent launch of the Cremorne Digital Hub (CDH) Scaleup Programme, endorsed by the government in Victoria, heralds a significant boon for tech enterprises in the region, poised to provide indispensable support for expansion and job creation within the local tech sector.
The Minister for Jobs and Industry, Natalie Hutchins, unveiled the initiative, designed to assist rapidly growing tech businesses in areas such as talent acquisition, operations, and business development. Scheduled to commence in February 2024, the CDH Scaleup Programme aims to initially support four scaleups, identified for their substantial investment and job creation potential.
Prospective candidates are invited to submit applications, and successful participants will benefit not only from industry-specific assistance but also from the opportunity to engage with potential investors, corporate partners, and customers. The programme further fosters networking within the vibrant Cremorne startup community, known for its passion and sustained growth.
Over the past three years, Victoria’s startup ecosystem has experienced remarkable growth, surging from a valuation of AU$ 50 billion to AU$ 91 billion. The CDH Scaleup Programme is strategically positioned to nurture tech scaleups, fostering an environment that encourages them to remain within the state. The Cremorne Digital Hub, supported by the Victorian Government, seeks to position Cremorne as a global hub for tech innovation.
In collaboration with a new programme by an APAC-focused venture investor, the Cremorne Digital Hub has enlisted its expertise to deliver the programme. The programme boasts a commendable track record in supporting AI scaleups, contributing to an aggregate company value of AU$365 million.
The Victorian Government has made a substantial investment of AU$ 10 million to establish the Cremorne Digital Hub, thereby propelling the growth of the state’s tech sector and solidifying Cremorne’s status as a premier global destination for innovation.
In tandem, the government is championing skills and job creation in the sector through initiatives such as the Digital Jobs Programme and fortifying local supply chains via the Made in Victoria – Industry R&D Infrastructure Fund, a commitment outlined in the 2023/24 Victorian Budget.
Minister Natalie Hutchins expressed optimism about the transformative impact of the CDH Scaleup Programme. She stated that an increasing number of technology companies, originating from Victoria, are on a trajectory to establish themselves as leaders within their respective industries.
The Cremorne Digital Hub Scaleup Programme is positioned as a catalyst to further facilitate the transformation of local tech enterprises into globally recognised brands. Underlining the programme’s significance in the wider economic context, it is asserted that by bolstering the technology sector in Victoria, opportunities are being generated for local employment, investment, and innovation. The anticipation is that these efforts will serve as enduring drivers for the regional economy.
The Director of Cremorne Digital Hub noted that companies in scaleup mode face unique challenges, each necessitating the most efficient and cost-effective solutions for resolution. The CDH scaleup model distinguishes and addresses the specific critical needs of each company, providing tailor-made services to meet their individual requirements.
As the CDH Scaleup Programme beckons, it stands as a testament to Victoria’s commitment to nurturing and propelling its tech sector to new heights. The convergence of government support, private sector expertise, and a thriving startup community positions Cremorne as not just a regional hub but a global focal point for tech innovation and growth.
