Delivering the goods
iAccelerate is at the heart of UOW’s commitment to growing a thriving regional economy. This community we’ve built is delivering the goods on innovation, jobs and revenues, facilitating rapid acceleration of businesses and attracting new companies and industries to the Illawarra.
Data for the iAccelerate 2020 Economic Impact Report has been compiled from an opt-in survey sent to each of the current iAccelerate resident companies and iAccelerate admin data. 60 respondents completed the 2020 survey.
“Since joining iAccelerate we have increased our revenue by over 20 per cent and our staffing from 15 to 20 people, all of whom are located regionally.”
Supporting Innovative companies
So far we’ve fostered 227 startup companies in total at iAccelerate.
With 3 intakes in 2020 we supported 35 new companies and 32 students through the program.
Creating Local Jobs
- iAccelerate delivered 732 new jobs to the region since 2012.
- In 2020 we delivered 93 new jobs to the community (not including founder jobs and other opportunities)
Sure, the direct benefits are huge – but the real impact extends far beyond that. iAccelerate is actively working to expand and diversify the region’s economy, supporting businesses from a wide range of fields with an even wider scope for impact.
iAccelerate supported 85 companies in 2020 in a range of fields including tech, hardware, service, education, health, wellbeing and social
Bucking the inequality trend
The startup sector, and the tech world in general, isn’t exactly known for its gender balance.
But at iAccelerate, we’ve created an environment and ecosystem that encourages female founders, co-founders and employees to thrive and bring their passion and vision to the table. 46% of iAccelerate companies have at least one female founder – in sharp contrast to national averages.
Across the past 5 years, iAccelerate has consistently performed above national averages. Reporting: 35% in 2016, 42% in 2017, 50% in 2018, 47% in 2019 and 46% in 2020.
Over $68.6m revenues by iAccelerate Companies in 2020.
92% of reported revenue came from 5 iAccelerate SMEs.
Money into the Economy
A 14% decrease year-on-year in wages and payments to contractors has been contributed by our resident companies.
A 17% decrease in salary and wages paid.
Sustained year-on-year level of payments to contractors.
Investment since 2016
Over $33m raised by iAccelerate Companies since 2016 in equity capital, debt capital and grants.
An incredible launching pad
iAccelerate companies are bringing new ideas to market every day, launching 41 new products, 79 products under development and submitting 26 IP protection applications in 2020. With 14 IPs already granted