The Authority provided approximately 500 square metres of shared office space for the startups to operate from. The ability to network with each other and the Park’s sports community, coupled with education and support from NSW Institute of Sport was fundamental in testing the SSI program. SOPA also funded a part time General Manager who was charged with providing strategy and business support for the start-ups.
After an initial 12 month period a start-up portfolio of 26 organisations was being supported at the SSI program.
This demonstrated to both NSWIS and SOPA that there was market interest in such a program. It was also acknowledged, however, that Government was not well placed to make financial investments in these start-ups.
What followed was Sydney Olympic Park Authority engaging further with existing incubators and accelerators to seek potential private management and investment in the SSI, resulting in the identification of a number of interested parties. The program was then further reviewed and it was decided to conduct a tender process to seek formal market interest. At the conclusion of the process Element 8 Ventures was secured as a new operator and investor.
SSI’s growth program and management support
The appointment of Element 8 Ventures (E8) provides start-ups involved in the Sydney Sports Incubator with access to high-level mentorship, education and business engagement to help mould the start-ups at the incubation phase.
This access helps support the survival of early-stage start-ups and assists entrepreneurs to make a seamless transition when their ventures become their full-time jobs, furthering the SSI’s Mission of creating a sports knowledge hub for the sports technology sector at Sydney Olympic Park.
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