The startup community at the University of Technology Sydney (UTS) is now the largest in Australia thanks to their backing of approximately 500 firms. UTS Startups, the university’s startup initiative, provides free coworking and office space, business contacts, and a thriving community to UTS founders. The UTS Startups network operates on a peer assistance approach, where seasoned individuals assist less experienced business owners in developing their ventures.
According to Murray Hurps, director of entrepreneurship, “I’m quite delighted that UTS has the motivation and capacity to create a virtuous cycle of peer learning and inspiration at scale to guarantee that this number keeps rising and translates into increased employment and learning outcomes.” 442 full-time employment were created by the UTS Startups community in 2021. Additionally, UTS Startups collaborated with 952 UTS students on internships and in-class projects, giving them opportunity to learn in the real world and hone their entrepreneurial and problem-solving abilities.
The next generation of founders is being drawn to UTS by its emphasis on innovation and creativity. Incoming UTS students in 2021 who aspired to pursue entrepreneurship throughout their degree comprised more than half of the student body. 8.8% of current UTS students are actively interested in or want to actively participate in startups. The university has also launched the UTS Startups @ Schools initiative, where founders will annually instruct 10,000 Year 9 and 10 students on presentation and entrepreneurial skills.
On the outside of the UTS campus, UTS Startups has also increased their presence to the busiest street corner in Sydney. The area, known as UTS Startups @ Central, organises workshops and events where entrepreneurs may introduce the public to innovative goods and services. The area is also a component of the revitalization of Australia’s technology hub, Tech Central. The area, which includes UTS and nearby communities, combines business, academics, and research to create Australia’s newest innovation powerhouse.