Northern Territory Gets its First Innovation Hub
8 May 2017 at 12:48 pm
A Darwin-based company has received a $500,000 grant to develop the Northern Territory’s first innovation hub.
Paspalis Enterprises will partner with Charles Darwin University to develop the Darwin Innovation Hub, a custom-built incubator environment to support a pipeline of start-ups in the Northern Territory.
Assistant NT Minister for Industry, Innovation and Science Craig Laundy said the government was committed to encouraging innovation in the Northern Territory and across the country.
“Creation of an innovation hub in Darwin will help start-up businesses in northern Australia to build their capabilities and get their products and services into international markets faster, especially into Asia,” Laundy said.
“It will also help local industry and businesses, including Indigenous businesses, embrace innovation, diversifying the regional economy and creating jobs in the Northern Territory.
“Incubators help to improve the prospects of Australian start-ups by providing them with access to mentors, funding, resources, and business networks. They are a vital part of effective innovation ecosystems.”
The funding will come out of $23 million pool allocated to the Incubator Support initiative under the federal government’s National Innovation and Science Agenda.