Just when you thought we had enough fintech hubs in the region, along comes another one.
The State Government of Victoria, Australia, has said it will establish a new fintech hub in Melbourne's Docklands.
The initiative is expected to provide a boost to local startups, attract investment, and create new jobs that support the state's significant professional services sector.
Victoria's professional services sector is the largest in the state's economy, accounting for close to 20 percent of gross state product, and employing around 405,000 people.
Proximity to Major Banks
Several of the country's largest banking groups are based in Melbourne in the state of Victoria, including ANZ and National Australia Bank.
The Victorian Government released a request for proposal document which invites companies to tender to establish the fintech hub, to be located in Dockland's Goods Shed North in the centre of Melbourne.
Targeted mentoring services at the hub will assist resident startups to develop new business skills connect with customers and bring new products and services to market.
The new financial technology hub will also build stronger connections with international fintech hubs and destinations, reinforcing Melbourne's position as an attractive location for startups and investment.
