The Andrews Labor Government has given its support to the Cremorne Digital Hub, a development that has enhanced Victoria's status as a leading global destination for technology and innovation.
Following the acquisition of its headquarters at 80 Balmain Street, the Hub has appointed a new CEO and Board to advance its goal of strengthening the state's technology industry by fostering cross-industry collaboration, increasing investment and nurturing local talent.
The Hub will build on Cremorne's transformation from a manufacturing centre to a hub for high-tech businesses and innovative employment opportunities. The area is already home to more than 700 businesses employing around 10,000 people.
Cremorne contributes more than $4 billion annually to the state's economy and is already home to some of Australia's most successful technology companies, including Carsales.com, SEEK, REA Group and MYOB.
Through the $50 million Cremorne Venture Fund, managed by Artesian, the Hub will actively participate in commercialisation by investing in new digital companies that can take Victorian innovation to a global level.
Mark Sims, an international business leader with extensive experience in Fortune 100 companies and former Chief Operating Officer of Hong Kong-based EdTech company Xccelerate, has been appointed CEO of the Hub. Monique Conheady, a well-known business leader and investor and co-founder of Australia's first car-sharing service, Flexicar, will be the inaugural Chair.
The Hub has been established with the support of the Labor Government and shareholders Carsales.com, investment firm Artesian and Melbourne, RMIT and La Trobe Universities will collaborate on its development to strengthen industry-academia partnerships. Board members include Scott Veenker, CEO of the Melbourne Chamber of Commerce, and Matthew Clunies-Ross, co-founder of Artesian and Boab AI.
For more information about the Cremorne Digital Hub, visit djsir.vic.gov.au/cremornedigitalhub