Victoria to launch two FinTech hubs

The Victorian Government has announced plans to launch two new FinTech hubs in Melbourne in partnership with local hub operators.

The partnerships with Stone & Chalk and YBF Ventures (formerly York Butter Factory) will seek to facilitate the development of Melbourne’s FinTech sector.

The Stone & Chalk hub will be located at Goods Shed North in Docklands. Already the home to cybersecurity organisations including the CSIRO’s Data61, the hub will be transformed into a FinTech and cybersecurity precinct.

Meanwhile the YBF Ventures hub will be located on Bourke Street in the city and will offer a range of advisory services focused on helping FinTech start-ups develop and commercialise business concepts. This hub will also partner with Startupbootcamp to establish a FinTech Accelerator Program.

Announcing the initiative, Minister for Innovation and Digital Economy Philip Dalidakis said Victoria is already home to a number of fast-growing FinTech start-ups including Stripe, Square, Airwallex, Mimecast, Assembly Payments and Moula.

“We’re proud to partner with Stone & Chalk and the YBF to support the FinTech sector — a sector that will support jobs and businesses in our future economy,” he said.

“Victoria’s new FinTech hubs will help our rising start-up stars grow and create new jobs in this fast-growing sector. The activation of the Goods Shed North in Docklands as a FinTech and cybersecurity precinct will provide an important centre for Victoria’s growing technology sector.”

Image credit: ©iStockphoto.com/Guido Vrola

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