11 May 2017
Chief Minister of the Northern Territory
The Territory Labor Government continues to restore trust by delivering on election promises with Chief Minister Michael Gunner today announcing the first innovation hub and start-up incubator.
The Chief Minister also congratulated Paspalis Enterprises Pty Ltd on winning a $500,000 Federal grant from the Department of Industry, Innovation and Science to develop the Northern Territory’s first ever innovation hub.
Mr Gunner said the NT Government has driven the creation of the Darwin Innovation Hub through funding of $250,000.
He said he expects at least 75 ‘start-ups’ will to be part of the Hub in the first two years creating more than 100 jobs and generating millions of dollars of new business.
“Supporting and driving innovation in the Territory is crucial for creating new economic opportunities and jobs for locals – it will help diversify our economy and improve competitiveness,” he said.
“It also helps position Darwin as an attractive destination for young entrepreneurs while connecting innovative Australian, Territory and Asian businesses.
“We want to partner with local enterprises to drive innovation and supporting the Incubator here in the Territory is another way we can do this.
“Incubators help innovative start-ups transform their ideas into internationally competitive businesses through mentorship, funding, resources, knowledge and access to business networks.”
The Darwin Innovation Hub will be located at the newly renovated Level 1, Paspalis Centrepoint 48-50 Smith Street and will provide support services to innovative start-ups and companies operating in the Northern Territory.
CEO of Paspalis, Harley Paroulakis said the focus will be on helping start-up businesses in Northern Australia build their capabilities and get their products and services into international markets, especially Asia, faster.
“We will also focus on working with start-ups in industry sectors relevant to the Territory such as mining and exploration, Indigenous business and remote health services,” Mr Paroulakis said.
“Our networks and programs will ensure start-ups in our Hub benefit from our commercial relationships with investors, industry experts and international organisations such as Nanyang University, the National Research Foundation of Singapore and Oxford University Innovation.
“Our start-ups will be able to collaborate and grow internationally taking advantage of what will be the best innovation ecosystem in the Northern Territory with a management team able to deliver key services and world class mentorship.”
Hub facilities include state-of-the-art meeting rooms, co-working spaces and a Hub Café fostering a culture of collaboration and enterprise.
“In the first two years, we expect to attract at least 75 start-ups of which 25 will go on to commercialise. This will result in up to 100 jobs created, direct investment of between $10-20 million with a combined annual turnover of $10-20 million,” Mr Gunner said.
“The new Darwin Incubator Hub will promote our unique innovative capabilities to the world.”
The Darwin Innovation Hub is a partnership between Paspalis, the Northern Territory Government and Charles Darwin University.
Media contact: Cameron Angus - 0404 021 192