NSW Treasurer Daniel Mookhey’s third Budget has sought to cement the state’s position as a hub for technology investment, as the government stares down flatlining productivity and business investment.
After a two-year wait for serious funding, and as competition from other states grows, Tuesday’s Budget delivers a modest boost to the startup sector through a $79.2 million package tied to the Innovation Blueprint.
The four-year package includes $38.5 million for the Tech Central innovation precinct that will soon house the Sydney Startup Hub and $20 million for a new Emerging Technology Commercialisation Fund, both of which were revealed on Monday.
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