As part of its innovation package announced in December, the federal government will be setting up five “landing pads” for Australian entrepreneurs across the world, with the first set to be in San Fransisco.
Federal Assistant Minister for Innovation Wyatt Roy is in California at the moment where he has signed the landing pad deal with RocketSpace, a startup workspace which has previously housed the likes of Uber and Spotify.
“It’s a very prominent, successful space which will give Australian entrepreneurs looking to come to the US for business or funding a serious leg-up,” Mr Roy told The Australian.
The new landing pad will provide opportunities for not only those who are Australian based that want to head over to the US and try and get their idea out there, but also for the 20,000 existing Australians working in Silicon Valley to help connect with Australian entrepreneurs.
“This will allow us to better use what they call ‘the Australian mafia’ in Silicon Valley and drive more connections between them and Australian start-ups,” he said.
The government is hoping that the new landing pads, which will be set up in “global innovation hotspots”, will be where market-ready Australian startups can access mentors, talent and investors in other innovation hubs across the world. Each of these hubs will be run by an Austrade-appointed manager, with the next one to be set up likely to be in Tel Aviv in Israel.