Upgrade on the way for Brisbane's start-up hub

Brisbane’s start-up hub, The Precinct, will receive a multimillion-dollar upgrade as part of the Queensland Government’s spending on innovation.

The Precinct is now home to 17 tenants including SoftBank, CSIRO’s Data61 and the Office of the Queensland Chief Entrepreneur. It occupies 5337 square metres across two floors at the historic TC Beirne Building.

“With the expansion, The Precinct will grow by an additional floor and will cover around 7500 square metres,” said Premier Anastacia Palaszczuk.

Deputy Premier Jackie Trad said the government’s investment in The Precinct would help to support Brisbane’s growing start-up sector and would help to create jobs.

“An important part of this strategy will be to provide a space for international innovators and investor organisations at The Precinct to work with local start-ups,” she said.

There are 27 tenants on the waiting list for floor space at The Precinct and this is expected to grow in coming years.

“Demand for The Precinct has been overwhelming. Since The Precinct opened, more than 200 events have been attended by close to 16,000 people,” said Innovation Minister Kate Jones.

“The Precinct is connected to innovation hubs in 12 regions around the state from Cairns to the Gold Coast.”

Queensland Chief Entrepreneur Steve Baxter said: “As soon as The Precinct opened, it was clear the Brisbane start-up community would support the space.

“Creating the right environment for ‘accidental collisions’ means networking is just part of the normal work routine and that’s vital for these exciting young companies.

“The expansion presents a fantastic opportunity for more businesses to join our thriving entrepreneurial community.”

One of The Precinct’s foundation tenants, Clipchamp, has nearly quadrupled its user numbers growth in the past 12 months, with nearly four million registered users around the world and a growing team.

Clipchamp co-founder and CEO Alex Dreiling said his company had been a tenant of the Precinct since it opened 14 months ago and had experienced at first hand the benefits of being part of Queensland’s premier innovation hub.

“We were an isolated start-up before in a managed office with challenges that none of the businesses around us had,” Dreiling said.

“The Precinct is obviously filled with start-ups, so we can get help and help others at any time. Just sharing the space with like-minded people is inspiring.

“Start-ups have the potential to become an economic engine in Queensland outside the traditional sectors, creating jobs and economic impact in the process.”

Image credit: ©stock.adobe.com/au/chones

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