Sydney's digital future intersects in new tech precinct

Sydney's best and brightest are set to shine in their very own "Silicon Valley" with a new tech precinct in the heart of Sydney at UTS.

Intersection: Sydney's Digital Creative Hub, is led by UTS, Microsoft and the NSW Government and aims to grow jobs in Australia's start-up sector and keep great Australian talent and ideas here at home.

More than 100 partners gathered to welcome the initiative last Thursday at UTS's "Hatchery" on Harris St, Ultimo. The Hatchery Pre-Incubator, launching in February, is designed to give students the start-up skills they need to be the entrepreneurs of the future.

Intersection is backed by a diverse partnership of leading corporates, start-ups, creative, education and government organisations.

UTS Deputy-Vice Chancellor (Resources) Patrick Woods said the university was the perfect location because of the high concentrations of entrepreneurial and innovative organisations in the Ultimo, Surry Hills and Sydney CBD area.

"Sydney is a global innovation leader, with NSW home to 40 per cent of Australia's creative and digital industries and City of Sydney data showing a 252 per cent jump in workers in those industries in Pyrmont and Ultimo over the past six years," Mr Woods said.

"So, the industry profile and workforce is here and at the same time the physical infrastructure is transforming the urban landscape with billions of dollars in new developments at Central Park, the UTS campus, Darling Harbour, the Goods Line and Barangaroo."

Mr Woods said that despite this fertile ground, Australia was well behind other countries in terms of the numbers of start-ups, their ability to access capital and Australia's ability to keep talent on our shores.

"Study after study has shown that for our economy to thrive in a digital age we need a strong start-up sector that is well supported by innovative companies and partnerships between education, government and the community," he said.

"Intersection has been created to connect large companies with start-ups, develop programs of events, mentoring and internships and raise Sydney's global profile through collaboration."

Sarah Vaughan, picture by Jesse Taylor, Encapture Photography

Microsoft's Director, Developer Evangelism and Experience, Sarah Vaughan, said the partnership was an obvious choice, given Microsoft's commitment to helping Australia reach its innovation potential.

"Intersection fills a need identified in Microsoft's own innovation research, for more cooperation and collaboration, by joining all the players including government, industry and the education sector," Ms Vaughan said.

"Our partnership is not just about today, it's also about uncovering and nurturing tomorrow's innovators – something that's always been important to Microsoft. Bookending the precinct, The Hatchery is a pre-incubator to educate and launch tomorrow's entrepreneurs – something that's essential if we are going to thrive as a nation."

The Deputy Premier and NSW Minister for Trade and Investment Troy Grant welcomed the launch.

"NSW is home to a world-leading digital creative sector and this new knowledge hub has the potential to foster exciting new levels of collaboration and innovation within the industry," Minister Grant said.

"Digital creative businesses are transforming the global economy and this new partnership between digital creative technology start-ups and major technology, educational and government organisations has the potential to set the NSW economy at the forefront of international competition."

Mr Grant said Intersection is one of five knowledge hubs in key economic sectors initiated by the NSW Government and led and supported by industry as part of efforts to improve competitive advantage by fostering a culture of collaboration.