$500,000 to support Darwin Innovation Hub project
3 May 2017
Darwin based Paspalis Enterprises Pty Ltd will receive 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 Minister for Industry, Innovation and Science Craig Laundy announced the funding today, provided through the Incubator Support initiative under the National Innovation and Science Agenda.
“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,” Mr 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.
“Support for projects like the Darwin Innovation Hub is just one way the Australian Government is helping to encourage innovation activity across the whole country.”
The $23 million Incubator Support initiative is an element of the Entrepreneurs’ Programme under the Government’s National Innovation and Science Agenda and opened for applications in September 2016.
For more information on how to apply for an Incubator Support grant, go to business.gov.au/assistance/incubator-support
Media contact: Mr Laundy's office 02 6277 4345