Victorian govt creates fintech hub in Docklands

The Victorian government has announced plans to create a dedicated hub for local fintech start-ups in the heart of Melbourne.

The Goods Shed. Source: The Victorian Heritage Council.

The hub is expected to be located within Docklands Goods Shed, which also plays host to the Data61's national cyber security centre, the Oxford University’s global cyber security capacity centre, and the universities and private sector bodies participating in the Oceania Cyber Security Centre (OCSC).

The state Department of Economic Development, Jobs, Transport, and Resources is currently inviting proposals from “experienced innovation hub operators” to establish the facility. It said it would consider alternative proposals for different locations.

The state government hopes the hub will strengthen the local fintech sector by concentrating investors, industry, and researchers in a single collaborative workspace, while building links with international fintech companies.

“Fintech is growing in importance as new technologies change the face of the finance industry and Victoria’s reputation for digital innovation means it is well placed to grow in this sector," the department said in a statement.

The hub is a key part of the state’s professional services sector strategy, which was allocated part of the $200 million future industries fund to support the growing fintech sector.