iAccelerate Economic Impact
A proven track record
The Accelerate Program run at Bega Valley Innovation Hub already has a proven track record of success in the Illawarra region, having been developed at the iAccelerate Centre at the University of Wollongong’s Innovation Campus.
Delivering the goods
iAccelerate has become Australia’s leading accelerator/incubator, and with good reason, and is at the heart of UOW’s commitment to growing a thriving regional economy.
The Accelerate Program is delivering the goods on innovation, jobs and revenues, facilitating rapid acceleration of businesses and attracting new companies and industries to the Illawarra.
See the latest statistics on the positive economic impact the program has made in the region below.
“Since joining iAccelerate we have increased our revenue by over 20 per cent and our staffing from 15 to 20 people, all of whom are located regionally.”
Dean Jackson, Managing Director, Azility
Ahead of the pack
iAccelerate has fostered more startup companies than anyone else in the Australian sector. And that’s no small deal – our little nation is a startup heavyweight, sitting just outside the top 10 global ecosystems.
Creating local employment
Since 2012, iAccelerate has been responsible for delivering 386 new jobs in the Illawarra region, with 152 of those created in 2017. That’s a jump of 67% from 2016, and the figure grows exponentially year-on-year.
Supporting economic diversity
Sure, the direct benefits are huge – but the real impact extends far beyond that. iAccelerate is actively working to expand and diversify the region’s economy, supporting businesses from a wide range of fields with an even wider scope for impact.
Bucking the inequality trend
The startup sector, and the tech world in general, isn’t exactly known for its gender balance.
But at iAccelerate, we’ve created an environment and ecosystem that encourages female founders, co-founders and employees to thrive and bring their passion and vision to the table. More than 44 per cent of our founders and co-founders are female – in sharp contrast to national averages.
The big bucks
If money talks, then iAccelerate is making some serious noise.
Our residents reported a five-fold year-on-year revenue increase in 2017, tripling their investment into wages and contractor payments in the same period. We also helped them to a bumper increase in investment capital and a lower reliance on debt.
An incredible launching pad
iAccelerate companies are bringing new ideas to market every day, launching 54 new products and submitting 33 IP protection applications in 2017 alone.
Get in contact
Get in touch with us and discover how we can transform your business together.