Melbourne’s First Dedicated Fintech Hub Creates Dozens of Jobs in 2018
We announced our partnership with the Victorian Government and global accelerator Startupbootcamp in late 2017, to build out one of Melbourne’s first dedicated fintech hubs: the YBF Fintech Hub.
The hub’s primary mission was and continues to be attracting investment and driving new growth in Melbourne’s fintech ecosystem.
The YBF Fintech Hub officially opened its doors in January of 2018 and the first year in operation has exceeded all expectations:
- Several fintech companies located within YBF’s innovation space experienced strong growth, adding dozens new roles to the economy over 2018.
- The YBF Fintech Hub produced and hosted over 70 educational fintech events — 100% open to the wider Melbourne tech community.
- YBF Ventures launched Australia’s first diversity-focused fintech awards, the Lift Off Awards, celebrating women and cultural minorities in fintech. The awards attracted local and global partners including the Victoria State Government, Lander & Rogers, Xero, Visa, ConsenSys, Vinomofo, Foreigner Brewing Co. and the British Consulate-General Melbourne.
YBF Ventures CEO, Farley Blackman said, “YBF Ventures is a thriving tech hub and our strength as an organisation is in creating an environment where businesses can grow. We are extremely proud of the fintech ecosystem that we have built and nourished over the last year and it was an honour to have been chosen by the Andrews government to build one of Melbourne’s first fintech hubs.”
Blackman goes on to confirm that there is a robust calendar of activities in store for 2019.
“2019 will see a full calendar of educational and business-scaling events, the second annual Lift Off Awards and our partners, Startupbootcamp are kicking off their first FinTech Accelerator from the YBF Fintech Hub. The fintech startups that will take part in the Startupbootcamp accelerator will work out of our CBD location and will be equipped with our full-service office space and have access to our entire suite of business offerings,” Mr Blackman said.
Trevor Townsend, CEO of Startupbootcamp Australia said, “We are delighted to be announcing our fintech acceleration program in conjunction with YBF Ventures and the Victorian Government. The YBF Fintech Hub is the ideal environment to help grow early-stage startups, as the community is not only vibrant and collaborative, but highly knowledgeable in the technologies that are shaping the future of financial services. We are confident in accelerating world-leading companies from our program here at YBF.”
YBF Ventures Chairman and the YBF Fintech Hub Advisory Board Chairman, Mike Smith OBE said, “The YBF Fintech Hub is the largest single industry hub within YBF Ventures’ wider innovation activities. We are proud of the help we are providing to propel Victoria forward in the new economy and the impressive job growth numbers in the first year is an indication of that. The Victorian Government’s initiative to create new jobs in this sector is important for the future of both Victoria and Australia.”
Hon Martin Philip Pakula, Victoria’s new Innovation Minister said, “Victoria has a rapidly emerging fintech sector with strengths in lending, wealth management, regtech, superannuation and personal finance management. Innovation hubs like YBF Ventures help startups to tap into Victoria’s strength as a financial services hub, and I congratulate them on the positive outcomes they have achieved over the past year.”
SuperEd, chaired and co-founded by Jeremy Duffield, who is also Chairman of the Australian Centre for Financial Studies and a member of the Federal Government’s Australian Centre Financial Task Force, moved into the YBF Fintech Hub close to its inception.
Jeremy Duffield said, “When YBF Ventures announced that they were launching a fintech hub Melbourne, I knew I wanted to move SuperEd into the space. Their reputation is stellar in the tech arena and the numerous opportunities that have been presented to us over the last year have made it well worth it. As one of Australia’s top online financial advice services — being based out of YBF is an ideal fit.”
Since 2011, YBF has created a strong and sustainable community of innovation in Melbourne and the YBF Fintech Hub has been integrated into its 3,100 square-metre headquarters and coworking space in the heart of Melbourne’s CBD since the beginning of 2018.
Along with scaling local fintechs, the YBF Fintech Hub Advisory board, combined with YBF’s existing international connections in Silicon Valley, Europe and APAC provide a landing pad for international fintechs.
The YBF Fintech Hub Advisory Board is made up of: Mike Smith OBE, Chairperson of YBF Ventures and former CEO of ANZ; Ming Long, Non-Executive Director at AMP Capital Funds Management Limited, Chartered Accountants Australia and New Zealand, and Diversity Council of Australia; Dr Deborah Ralston, member of the Reserve Bank of Australia Payments System Board, Chair of the SMSF Association, Professorial Fellow at Monash University; Jo Mikleus, CEO of RUBIX., Partner at STARTMESH, Chairperson of The Mentor List and Amy Auster, Deputy Secretary (Economic), Victorian Department of Treasury and Finance.
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Words by Courtney Blackman
All photography by Michael Rutter for YBF Ventures.
