Monash Council welcomes with delight the Australian Government’s announcement of $4.75 million in funding to create the Eastern Innovation Business Centre in Mulgrave.
Monash Mayor Micaela Drieberg said the high-tech centre would be a vital component in the future economic prosperity of the region.
She said the centre would provide crucial support facilities for start-up small businesses. It is expected to create 100 extra jobs in small businesses within the first 16 months of its operation. In addition, 100 jobs will be created in the construction phase of the project.
The centre will provide tenancies for 27 businesses, ‘hot desks’ for an additional 30 businesses, and an open space area for training, workshops and exhibitions.
“If we are to compete in a global economy, we need to support small businesses in their early days when they face many challenges,” Cr Drieberg said.
“Small businesses are the engine room of our economy but research indicates that 59% of small businesses fail in their first three years, she said.
“This centre will give businesses a helping hand as it will be a place where they can receive professional advice, and share resources and knowledge.”
She said the new centre would build on the successes of the Monash Enterprise Centre, with businesses at that facility having achieved an average growth in jobs of about 250% in their first three years of operation.
She said the Eastern Innovation Business Centre was expected to be up and running by mid-2015, and would be built on Council-land next to the Monash Enterprise Centre in Hartnett Close.
Cr Drieberg said Council’s application for the funding – which was granted under the Regional Development Australia Fund – had been supported by Councils and other groups from across the East and South East of Melbourne.
“The Eastern Innovation Business Centre will be a great asset for the entire East and South East region of Melbourne, as it will contribute new jobs and wealth across many municipalities,” Cr Drieberg said.