iAccelerate Economic Impact 2018
iAccelerate’s 2018 end of year results have delivered on our commitment to growing a thriving regional economy. The 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 with an even wider scope for impact.
iAccelerate has now delivered more than 500 jobs to the region and supported 156 companies. Our gender balance of startup founders has hit 50% – well above the national average. iAccelerate is actively working to expand and diversify the region’s economy, supporting businesses from a wide range of fields.Download the 2018 iAccelerate Economic Impact Data Flyer
Supporting Local Companies
So far we’ve fostered 156 startup companies at iAccelerate. With 3 intakes in 2018 we supported 29 new companies and 51 students through the program.
Creating Local Jobs
- iAccelerate delivered 517 new jobs to the region since 2012.
- In 2018 we delivered 131 new jobs to the community (not including founder jobs and other opportunities)
- 410 current positions at iAccelerate, as at December 2018
- 42% Full Time, 25% Part Time and 33% Founders
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 74 companies in 2018 in a range of fields including tech, hardware, service, education, health, wellbeing and social
Female Participation – 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. 50% of iAccelerate companies have at least one female founder – in sharp contrast to national averages.
If money talks, then iAccelerate is making some serious noise.
Our residents reported a 37% year-on-year revenue increase in 2018, with a 93% increase in wages and contractor payments in the same period.
Money Into the Local Economy
payments to contractors
• 70% increase in salary/wages paid
Products and IP
- iAccelerate companies continue to launch & develop new products. Approximately 3x increase YOY in products launched
- 89% of iAccelerate companies have new products under development
- 40 applications for IP protection – with a 70% success rate
Interested in accelerating your business, applications for the next intake are now open – learn more on our Apply Page.