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Named ‘Greenhouse’, the hub spans 3,800sqm on first three floors at 180 George Street and is due to open next year. It will offer affordable office space for climate tech startups and scaleups, to be run by a subsidiary company of seed investment firm Investible for the next 10 years.
City of Sydney Lord Mayor Clover Moore said creating affordable startup space would help support an important sector of the economy and contribute to the CBD’s post-pandemic recovery.
“Greenhouse is a wonderful opportunity for tech entrepreneurs and the scaleup economy to be located in one of the most advantageous and desirable locations in Australia, and for the City to showcase Sydney’s tech startup ecosystem to the world,” she said.
“By supporting our fastest-growing, sustainability-focused businesses with affordable, premium office space and access to expert-run services and globally competitive talent, we hope to reaffirm Sydney’s reputation as a vibrant and sustainable city and the home of smart, inclusive and green innovation.
“Greenhouse will help to drive the kind of economy our city needs, and I’m delighted that we are one of the key investors.”
The hub aims to directly support more than 100 ventures in creating more than 1,500 new jobs over a decade and creating pathways for early-stage startup to position Sydney as a global leader in climate tech.
Investible co-founder Creel Price will be Greenhouse CEO.
“We’re designing a space that’s optimised for growth; bringing together a diverse group of investors, experts, partners and advisors to provide climate tech businesses with the nutrient capital, talent, programs and community to grow to their fullest potential,” he said.
The City will sublease the hub space to Investible subsidiary, Innovillage Pty Ltd for 10 years and offer a rental subsidy through its Accommodation Grant Program, providing they demonstrate an ongoing community benefit to the tech startup ecosystem.
Greenhouse is expected to open in late 2022.
Links
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