Australian EFTPOS outfit Tyro Payments is opening a fintech hub in Sydney where startups can rent deskspace.
The hub in the heart of Sydney's financial district has desks for 125 fintech entrepreneurs who will pay A$625 a month, or A$420 for 10 days. It will also host accelerators, conferences, hackathons, meetups and seminars at the site in a bid to build up Australia's small but fast-growing fintech community.
In addition, Tyro is promising to work with some of the startups to co-develop open APIs, offering access to its software developers, for no fee or equity stake.
Andrew Corbett-Jones, who is heading up the hub, says: "Startups face barriers in this space, and we want to give them a boost by giving them somewhere to work, learn, collaborate and drive change."
He continues: "We believe this space will be particularly attractive to anyone thinking about leaving a large, slow-moving employer - whether that’s a bank, an insurance company or a professional services firm - and launching their own startup."
Although Tyro says that this is Australia's first fintech hub, another is in the pipeline. Some of the country's biggest banks and tech companies are providing A$2 million in funding to launch 'Stone and Chalk', an independent, not-for-profit entity created to help foster and accelerate the development of start-ups.