Ten years ago, this purpose-built building signalled a turning point for innovation in the region. Photo: iAccelerate.
Fifteen years ago, if you had a world-changing idea or a tech degree, your future was likely found on a North-bound train to Sydney.
Today, the Illawarra is no longer just a commuter hub or a steel town; it’s home to an engine room for global startups — iAccelerate.
The University of Wollongong’s flagship innovation and entrepreneurship hub has supported more than 600 companies, created more than 1200 jobs and generated over half a billion dollars in total sales and injected more than $185 million into the regional economy.
As the purpose-built hub marks its 10th anniversary on the Innovation Campus, it’s hard to imagine its humble beginnings.
While the creation of the building a decade ago marked a major turning point for the region’s innovation incubator, the initiative itself began as a small proof of concept called Start Pad in 2012.
“Picture 20 or 30 desks on the top floor of a building next to Town Hall,” iAccelerate director Dr Tamantha Stutchbury said.
Council furnished the space, state government operational funding and university staff the brain power.
The program quickly evolved into iAccelerate and in early 2014 funding came from the Restart NSW Illawarra Infrastructure Fund to create a 280-seat purpose-built space on the UOW’s Innovation Campus.
Ten years ago that building launched, signalling a new era.
“It came with a goal to change the economic footprint through entrepreneurship and innovation in the Illawarra,” Tamantha says. “For that reason, we’ve always been for anyone who wanted to build a global start-up in the Illawarra — not just people with connections to the university.”
iAccelerate director Tamantha Stutchbury says the incubator’s yardstick for success is a little different to many other incubators. Photo: iAccelerate.
The goal was to create 500 direct jobs for the region in five years. iAccelerate got there in three.
While the number of direct jobs created has reached 1200, the ripple effect is likely a lot more, by many orders of magnitude.
Numbers aside, the iAccelerate team is most proud of its contribution to economic diversity in the region.
Its mission remains to cultivate equitable, diverse entrepreneurial ecosystems by supporting founders from all walks of life from the Illawarra.
“There are a lot of incubators out there chasing that unicorn start-up. For us, the definition of success is about changing the economy of our region,” Tamantha says.
“If we grow a company from two people to 20 and that’s what they stay at for 20 years, that’s successful for us.
“We’re proud as well to support a diverse range of social enterprises, innovation in the renewables space and female founders. We’re globally recognised for that.”
About half of all iAccelerate-supported companies now include at least one female founder — well above national benchmarks for female entrepreneurship. Last year the program claimed the Female Entrepreneurship Empowerment Award at the Accreditation Council for Entrepreneurial and Engaged Universities Global Triple E Awards and the People’s Choice Award in the same category.
iAccelerate has played an integral role in the creation of businesses that have gone on to have a global impact, including Easy Agile, Allotrac, Recovery Camp and Critical Arc.
Across its numerous programs, events and connections, Tamantha says iAccelerate can help innovators at any stage of their innovation journey.
“You could be at the ‘I have an idea’ stage or the ‘I’m trying to raise $20 million’ stage — go to our website, click the ‘talk to us’ button and book a conversation with our team,” she says.
“We’ll find out where you’re at, what supports you need and the right path to them, whether it’s one of our programs or an introduction to the right council member or an angel investor.”
It’s a far cry from the days of the lonely Sydney commute; today, the path to success is paved by a collective regional effort.
“I feel enormous pride when I look at where we are now, in our successes but also the culture of our innovation ecosystem,” she says
“Illawarra innovators no longer have to commute or leave altogether to create a thriving business, or contribute to society or the economy.
“Anyone growing a company in the Illawarra is surrounded by a wonderfully supportive community. We have retired and active business people who want to give back, mentor, support and stay connected. We’re the birthplace of big tech companies recognised globally.
“It’s a healthy, thriving, sustainable innovation ecosystem and that was always the vision.”
