ID Exchange and open innovation hub

Monday, 07 May, 2018

ID Exchange and open innovation hub

An innovation campus will be established in Sydney’s Glenwood under a partnership between ID Exchange and

The ID Exchange Innovation Campus (IDX) is designed to stimulate digital innovation and economic growth, primarily focused on application development in the fintech and regtech sectors, as well as being open to secondary and tertiary STEM (science, technology, engineering and mathematics) students from nearby schools and universities.

IDX is believed to be the first commercial regtech sandbox facility established in Australia. Situated in a high-growth precinct of western Sydney, the site will attract app developers building on the platform in key government, e-health, finance, retail and social sectors. Developers and early-stage entrepreneurs will also have the opportunity to leverage ID Exchange’s unified opt in and opt out consumer access intellectual property. The first phase of the campus has 22 hot desks, and other collaboration facilities including a meeting room, boardroom, communal lounge and kitchen.

IDX is based in the heritage-listed Glenwood House and was officially opened by the NSW Minister for Innovation Matt Kean.

“I’m thrilled to see the continued growth of innovation hubs in NSW. It’s incredibly important that we unlock more and more opportunities for start-ups to get a foothold in the marketplace,” Kean said.

“These innovative companies are carving out the next generation of jobs and businesses for our country, particularly around data management, which is transforming the 21st-century economy.”

As part of the launch, ID Exchange is announcing a ‘Stay and Play’ competition for 12 app developers to win a seat at the campus for one month, giving them free internet access, masterclasses, technical support and pitch day prizes.

“Our Innovation Campus is an excellent example of fostering UK and Australian collaboration by providing a facility to enable the pursuit of technical excellence via software and application experimentation. It’s our everyday hackathon site where we can help to kickstart developers and invite commercial, government and educational institutions to collaborate on app concepts with the pure aim to get things done,” said ID Exchange Founder and Managing Director Joanne Cooper.

“This partnership will immediately advance the development of secure, ethical, compliant and society-focused open data solutions as called for by the Australia Productivity Commission's report on Data Availability and Use, as well as the Treasury’s views on consumer-centric approaches being currently tabled via the Review into Open Banking.”

The launch also saw ID Exchange and showcase their current Australian partners, including Bainbridge Associates, HCCU, Recordkeeping Innovation, Mafematica, Mainframe Cloud, SISS Data Services, Vault Systems and Verifier.

By accessing the facility, the Innovation Campus will encourage Australian universities and educators to unite with enterprise to springboard digital transformation across a range of sectors. This was demonstrated with a class session held for eight Year 11 and 12 STEM students from the neighbouring Glenwood High School, by Dr Julia Prior of the University of Technology Sydney’s Software Development Studio, to showcase the curriculum and opportunities available to work with the commercial sector.

“The Faculty of Engineering and IT at the University of Technology collaborates with ID Exchange through both its Software Development Studio and its Women in Engineering and IT program. By inviting secondary and tertiary students to meet developers and early-stage entrepreneurs at campuses like these, there is hope that the next generation of innovators will be inspired to study engineering and IT. The Women in Engineering and IT program aims to secure a pipeline of female talent that will boost innovation in these sectors,” said Dr Arti Agrawal, Associate Professor and Director, Women in Engineering and IT, Faculty of Engineering and IT, University of Technology Sydney.

IDX’s second phase extension will accommodate a further 18 hot desks and is anticipated to open later this year.

Image credit: ©alphaspirit/Dollar Photo Club

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