ATP Innovation’s welcomes federal government support for incubators
ATP Innovations, Australia’s leading advanced-technology incubator, welcomes today’s announcement by the Federal Minister for Industry, Innovation and Science, Greg Hunt, offering support to entrepreneurs.
“Backing incubators is a smart move,” says Petra Andren, chief executive officer of ATP Innovations.
“Incubators encourage entrepreneurs to grow and scale their businesses. And doing this ensures Australia continues to be competitive on the world stage.”
Advanced technology will play an increasingly crucial role in Australia’s economy as well as defining our place in the digital age.
“Funding to expand the services of high-performing incubators will enhance collaboration between industry, universities and government,” says Ms Andren.
“We are industry agnostic and with our university founders, ANU, USyd, UNSW and UTS, we look forward to further collaboration with Mr Hunt. It’s incumbent on all of us to ensure our great entrepreneurs and their ideas are nurtured. We can change the world one start-up at a time.”
Since 2006, ATP Innovations’ portfolio companies have together raised $245 million in capital including a record $61m in 2015-16. These start-ups and scale-ups have earned $500m in revenue since 2006 and collectively hold more than 500 patents. Eight companies have been acquired or gone IPO.
Today, ATP Innovations’ Sydney-based centre has more than 400 skilled people working in advanced technology. Its portfolio companies have launched more than 700 products and the value of the top five companies exceeds $300m.
“Australia has the trifecta of start-up essentials. A wealth of talent, a track-record of game-changing technologies, and a thriving entrepreneurial drive,” says Ms Andren.
International consulting firm EY this month released its global entrepreneurship barometer and ranked Australia fourth behind Canada, the US and Japan. http://diginomica.com/2016/09/12/ey-study-finds-uk-well-placed-for-digital-entrepreneurs-post-brexit/