The Cremorne Digital Hub (CDH) is set to bolster Australia's digital ecosystem by announcing its inaugural Scaleup Program cohort. Following a recent AUD $10 million investment by the Victorian Government, four high-growth global tech firms have been selected to participate in the initiative.
CDH aids enterprises in building digital capabilities and rousing innovation. It joins forces with various partners across the digital landscape to offer a suite of solutions to tech companies. The objective is to combat talent and skill gaps, expand scaleups, and facilitate company growth via access to leading-edge technology solutions and investment. The mission extends to transforming Cremorne into a pivotal tech district in Australia.
The first-ever Scaleup Program will enable participating businesses to collaborate with industry leaders, aiding them in securing investment and forming new partnerships. The program also aims to validate products against industry standards, create effective teams, and promote brand recognition.
Australian scaleup LARKI, alongside international scale-ups CADS, FCC Analytics, and ZEPIC, will receive backing from CDH to lay foundations in the Australian market. This move aims to ramp up the tech industry's capacity and positively impact job creation within the sector.
The four companies chosen from around 40 global applications for the six-month program were picked based on unequivocal signs of commercial success. The companies will be integrated into the dynamic network of partners, investors, and sector advisors at CDH. Their placement at the heart of a Cremorne-based ecosystem will hasten growth and dispel obstacles to commercialisation and market penetration.
The hub's selection of Scaleup Program participants comprises CADS, FCC Analytics, and ZEPIC, who will benefit from CDH's support. This will enable them to establish a footing in the Victorian and Australian markets with the long-term objective of improving the tech industry's capabilities while augmenting job opportunities within the sector.
Peter Osborne, CEO of Cremorne Digital Hub, says, "Companies with great ideas and leading technologies driven by visionary founders deserve a chance to thrive. This is where Cremorne Digital Hub comes in." He also elaborated on the declining investment in new tech companies, "Not because investment has dried up, but because investors are taking fewer risks. Our aim is to help buck this trend and help companies better demonstrate their value to investors."
Osborne further explained, "With the Victorian Government as our primary stakeholder, venture capital support, insights from university partners on emerging technologies, and the incredible scaling capabilities that our tech partners bring, Cremorne Digital Hub is perfectly positioned to help companies establish solid growth pathways into both Australian and global markets, moving them towards rapid adoption, scale, and revenue."
The Cremorne Digital Hub will soon open its new headquarters on Balmain Street, Cremorne, effectively connecting the local and broader Victorian digital ecosystem in the heart of Cremorne. CDH kicks off in its flagship location, hosting the program's inaugural cohort along with several other innovative companies.