The iAccelerate Centre, the region’s first purpose-built business incubator, providing a permanent home for over 280 startup companies is close to completion at the UOW’s Innovation Campus.
The $18 million Centre is due to be open for business in June 2016 with applications currently being accepted for the next intake.
iAccelerate’s suite of programs, designed around a robust educational framework, formalised business acceleration monitoring and one-to-one mentoring, is aimed to assist businesses grow and scale their companies in the Illawarra and into the national and international markets.
“iAccelerate provides opportunity for early stage ideas, existing large scale businesses wanting to spinout an innovative idea or new business, or businesses looking for a soft landing in the Illawarra region. Where else can you get this level of office space from $70 per desk per week?” said Melissa Ryan, UOW’s Innovation Development Senior Manager.
iAccelerate offers a practical and engaging program to help build businesses fast, with a no fuss leasing process, offering two main business acceleration programs: iAccelerate Start and iAccelerate Advanced.
In 2015, six iAccelerate resident companies expanded their international presence and to date nine companies have had new product launches. Since the iAccelerate program launched in 2012 iAccelerate has assisted a total of 57 companies and helped create 119 startup jobs.
The 3-storey, 4,000 square metre iAccelerate Centre will feature ‘plug and go’ expandable space, with 30 offices, 12 meeting rooms, 6 breakout spaces, 2 co-working spaces and a rooftop terrace with a container bar.
The funding for the iAccelerate Centre was part of the Restart Illawarra Infrastructure Fund, which provided $100 million in State Government funding for 12 projects in the region. iAccelerate applications Now open Applications are currently being accepted for the iAccelerate Centre.
iAccelerate also holds many community engagement events open to the public including the Entrepreneur Club meetings and a women’s breakfast series.