The Cremorne Digital Hub is Victoria’s new centre for collaboration between all the players in the early-stage ecosystem, said Artesian partner Cremorne Digital Hub chief operating officer Tim Heasley.

“We have some of the world’s best talent in Victoria - yet there is a significant challenge bringing that talent and industry together to accelerate commercialisation and translation of digital research. The Hub addresses that gap and brings together government, corporations, universities, investors, entrepreneurs, and startups in one place to work together,” Heasley said.

The Hub borrows a similar concept to a trade centre, hosting hundreds of events and programs each year.

These will include educational programs and workshops run by Boab AI, La Trobe University, The University of Melbourne, and RMIT University.

The Hub’s business model will also be underpinned by the Cremorne venture capital fund to stimulate investment.

Artesian is targeting a $50 million to $100 million fundraise to help fuel Victorian commercialisation and startup companies.

“Artesian sees the Cremorne venture capital fund as a critical feature to the Hub’s long-term success, giving the entire digital sector an opportunity to generate compelling strategic and financial returns. This is a unique collaborative approach, and we see this as building on what exists currently in Cremorne and creating a range of incredible new outcome,” Heasley added.

Cremorne contributes $4 billion to the Victorian economy each year and is home to four of Victoria’s billion-dollar valuation tech companies (MYOB, REA Group, Carsales, and Seek).

Heasley believes that Cremorne Digital Hub will also play an important role in addressing the widening digital skills shortage.

“With unemployment the lowest in 48 years, we expect the Hub will provide the startup and corporate sector with a protected pipeline of talent coming in from around the state to address their digital skills hiring needs,” he said.

Founded in 2004, Artesian is a global alternative investment management firm specialising in venture capital and impact investment strategies.

This first appeared in the subscription newsletter CommsWire on 8 September 2022.