Published on the 15/08/2018 | Written by Jonathan Cotton

There’s always new Silicon Valley’s being built, but with the backing of Atlassian and the state, Sydney’s new innovation precinct may be the real deal…

The plans are still in the early stages and funding numbers have not been released, nevertheless, there’s good reason to be optimistic: The NSW government will partner with tech-giant Atlassian, tech industry group TechSydney and co-working space specialists Fishburners to create a yet-to-be named innovation precinct in the Sydney CBD.

A taskforce has been set up to support the yet-to-be-named project, headed by Jobs for NSW chair David Thodey who will lead design and development of the project.

“We’ll make sure that every person around the world wants to work here.”

Not to be confused with Sydney Startup Hub, which opened in the CBD in February, or the Australian Technology Park which was sold to property group Mirvac and Commonwealth Bank for $263 million in 2015, NSW premier Gladys Berejiklian says the new tech and innovation precinct will stretch “from Central Station to Eveleigh” and “cement Sydney as the tech capital of Australia”.

It will also create new employment opportunities it’s hoped, to the tune of 10,000 new jobs by 2036.

“Sydney and NSW are generating the jobs of the future and this new technology precinct will help turbo-charge our economy,” Berejiklian says.

“We’ll make sure that every person around the world wants to work here. The best and brightest locally, but also the best and brightest around the world wanting to work here for those tech innovation jobs.”

“Central to Eveleigh is already home to Australia’s largest cluster of start-up firms. We want to use that as a base to grow new jobs and new businesses.”

Scott Farquhar, co-founder and co-CEO of Atlassian (not to mention billionaire) says the plan sends a clear message that “Sydney is open for business for technology, the largest industry on the planet.”

“Sydney has the potential to be one of the world’s leading tech cities and the creation of a tech hub sends a very loud signal – not only to the country, but to the rest of the world – that we’re in the race.”

While not everyone is a fan of state-backed innovation initiatives, Minister for Trade and Industry Niall Blair says the new precinct could power NSW’s tech sector over the next 30 years.

“We know that government can’t do that alone and we need to work with the firms that are driving innovation today, and those that will be delivering the opportunities of tomorrow,” Blair says.

“The Central to Eveleigh area is uniquely placed as an innovation precinct and is ideal for technology firms to attract and retain Australian and international talent.

“The new precinct, which will benefit from excellent transport links, will help revitalise this part of Sydney and support a thriving services, education and related industries.”

As well as Atlassian and industry groups, the government has been particular about securing buy-in from higher education, asking the University of Sydney and the University of Technology Sydney to help co-create the precinct.

“The University of Sydney is very committed to this precinct model,” says Professor Duncan Ivison, deputy vice-chancellor research, University of Sydney.

“This is a unique opportunity for universities, industry and community partners to work together to make Sydney a global hub of excellence and investment, enhancing the prosperity and wellbeing of the city and NSW.”

“I look forward to representing the University’s interests as a key player in the work of this taskforce and to reporting back on developments.”

In March the NSW government put the kibosh on Google’s plan to build an innovation precinct in Sydney, which developer Mirvac said could create up to 19,000 jobs.