The University of Wollongong’s iAccelerate Centre is celebrating its 10th anniversary, marking a decade of helping entrepreneurs, researchers and early-stage businesses develop new ideas into commercial ventures.
Established in 2016 with support from the New South Wales Government, the innovation hub has supported more than 600 startups and scaleups over the past decade. According to figures shared by NSW Health Minister Ryan Park, businesses backed through the program have generated more than $630 million in sales and contributed more than $185 million to the regional economy.
The centre provides founders with mentoring, business development support, networking opportunities and access to industry expertise, with the aim of helping emerging businesses grow and attract investment.
Over the past 10 years, iAccelerate has worked with university researchers, students and local entrepreneurs across a range of industries, contributing to job creation and encouraging innovation in the Illawarra region.
Photo/Facebook
Ryan Park acknowledged the people who have contributed to the centre’s growth, congratulating University of Wollongong staff, students, founders, mentors and industry partners who have supported the initiative since its launch.
While the figures reflect the centre’s reported economic contribution and commercial outcomes, startup success can vary widely, with many businesses continuing to face challenges as they grow and compete in changing markets.
As iAccelerate enters its second decade, the focus is expected to remain on supporting new ventures, strengthening links between research and industry, and encouraging innovation across the region.
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