US technology giant, Google to make it’s largest investment in Australia to date. Google says the money will be used to build a research hub, increase its cloud computing capacity and fund partnerships with local organisations.
The move, named the Digital Future Initiative, is expected to directly create 6,000 jobs and support 28,000 overall.
“Australia can help lead the world’s next wave of innovation, harnessing technology to improve lives, create jobs, and make progress,” Google boss Sundar Pichai said at the initiative’s launch in Sydney.
Also attending the event, Australian Prime Minister Scott Morrison welcomed the plan. “The decision by Google has major benefits for Australian businesses as we engage with the economic recovery before us,” Mr Morrison expressed.
The investment will see the company partnering with local organisations, including Australia’s science agency the Commonwealth Scientific and Industrial Research Organisation (CSIRO).
Cyber investment company DivisionX Global called Google’s announcement a “huge win” for Australian technology. “It takes money to move an idea into innovation and the first money is the hardest to come by.” Joshua Kennedy said
“If Google cut $250k cheques to promising start-ups, they could fund 4,000 new tech companies in Australia,” he added.
The investment marks another major boost for Sydney’s ambitions to become the ‘Silicon Valley of the Southern Hemisphere’.
Construction of Tech Central, a multi-billion dollar hub in central Sydney, is due to start next year and is expected to continue until 2026.