Tech Central Scale Up Accommodation Rebate
Helping technology businesses in the scaleup phase of growth establish in Tech Central by providing a 40% rebate on eligible rental costs and 30% rebate on eligible fitout costs.
Australia's largest technology and innovation hub, Tech Central, will provide 250,000 square metres of space for technology companies and affordable rates for startups and scaleups.
About the Rebate
Investment NSW will provide $11 million over 2 years in rebates to attract technology scaleups to this world class innovation and technology precinct.
Technology businesses in the scaleup phase of company growth with an eligible lease, sub-lease or occupancy agreement can access rebates to cover rental and fit out costs.
The maximum rebate amount is $1,940,000.
Eligible applicants can get a 40% rebate on rental expenses up to $600,000 per annum for the first two years and up to $300,000 in the third year. They can also apply for a 30% rebate on eligible fitout expenses up to $440,000.
Refer to the program guidelines for eligible rental agreements and fitout costs.
Before you apply, please check your lease space is within the target zone (that is, within 500 metres of 2 Lee Street, Haymarket).
The eligibility criteria below is a summary only. Refer to the Program Guidelines (PDF) 5 MB for full eligibility criteria.
Eligible lease, sub-lease or occupancy agreement
Applicants already located within the target area
You must be able to demonstrate you are increasing the total commercial leased space by an additional 300 square metres or more for a minimum of 3 years within the target area.
Multiple agreements cannot be combined to achieve the 300 square metres threshold.
Applicants not currently located within the target area
For new leases that have yet to commence, it must occupy at least 300 square metres for a minimum of 3 years within the target area.
To be eligible, your business must be a Scaleup Technology Business establishing in or expanding within the target area. This is defined as a business which:
- develops and commercialises new technology as part of their core service or product offering
- employs at least 10 full time equivalent roles in NSW
- is generating revenue from core services or products and has achieved an average growth of 20 per cent or more in either employment or revenue year on year, for
at least 2 years immediately prior to the date of your complete application or at the calendar month end prior to the date of your complete application.
How to apply
Be sure to provide all the necessary information and attachments as outlined in the Program Guidelines (PDF) 5 MB .
Applications opened on 21 January 2022.
Applications close at 17:00 AEST on 16 June 2023 or when funding has been fully exhausted.
You can expect to hear the outcome of your application within 20 business days after complete submission.
Please contact Investment NSW if you have any questions about this rebate.