H2 accelerator to create 400 NSW FinTech jobs
This will enable the company to access a $4 million loan by Investec Australia and assist H2 Ventures in creating 400 jobs in NSW with 40 new start-up FinTech companies.
“With the support of the NSW Government and Investec Australia, we are looking forward to taking the H2 Accelerator to the next level,” said Ben Heap, founding partner of H2 Ventures.
“This will allow us to attract more domestic and international entrepreneurial talent to NSW and to support a significant number of new FinTech ventures, creating new channels growth and jobs.”
Jobs for NSW CEO Karen Borg said start-ups like H2 Ventures are reshaping the financial services industry.
“In 2015 investment in the Australian FinTech market totalled $438 million and by 2020 it is predicted to reach $4.2 billion,” Borg said.
David Phillips, head of the Emerging Companies division in Investec Australia, said the company looked forward to working with the NSW Government on other joint initiatives.
“The joint financing which Investec Australia and Jobs for NSW are providing to H2 Ventures is a great example of the private and public sectors working collaboratively to help entrepreneurs successfully launch and then grow new businesses,” Phillips said.
H2 Ventures supports the creation of new FinTech companies through its start-up Accelerator program and is on track to invest in at least 100 early-stage FinTech companies over the next three to five years.
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