Google has ruled out launching a start-up hub in Australia in the future, despite securing a building in London in order to foster UK-based ventures.
The search giant has signed a lease for a seven-floor building in east London, which it is using to support the city’s burgeoning “Tech City” start-up community.
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The initiative, the first of its kind by Google, will allow other organisations that support entrepreneurs to use the space to provide a launchpad for start-ups.
Along with housing start-ups, the facility will host a range of activities, including visiting speakers, “hackathons”, training workshops and product demonstrations.
The building, situated in an area of London dubbed “Silicon Roundabout” by locals due to the presence of various tech start-ups, is currently being refurbished and will open fully in 2012. The least runs until 2022.
Despite the scheme raising hopes that Google will roll out a similar incubator in other markets, a company spokesman says there are no plans to launch the concept in Australia.
A rash of start-up incubators and accelerator programs have emerged in Australia over the past year, such as Startmate, PushStart, the York Butter Factory and AngelCube.
However, a large company has yet to put its weight behind a start-up facility, as has happened overseas.
David Singleton, engineering director at Google UK, says: “We announced our involvement in the Tech City project last year, and we’ve been working hard to make this vision a reality.”
“Finding a suitable building is the first major step, and we hope to announce more details about the organisations we’ll work with and how they will use the space in the coming months.”
“East London is already home to hundreds of innovative British start-ups, and has huge potential for economic growth and new jobs over the coming years.”