Deal: The NSW government’s Department of Enterprise, Investment and Trade (DEIT) has been advised on its partnership with Techstars to launch a start-up accelerator program in Sydney’s Tech Central.

Value: Undisclosed

Area: Government, technology

Key players: The Herbert Smith Freehills team was led by partner Nicholas Carney with support from special counsel Ian Reid and solicitor Cecilia Ngu.

Deal significance: Techstars is a global investment business providing entrepreneurs with access to capital, one-on-one mentorship and programming.

According to a statement from Herbert Smith Freehills, the agreement will see Techstars establish an office in Sydney’s Tech Central, Australia’s largest innovation district.

“The company will then deliver the Techstars Tech Central Sydney Accelerator, with a focus on supporting seed and early-stage founders building businesses in emerging tech industries, including AI, fintech, advanced manufacturing, cloud computing, robotics, cyber security, quantum computing, creative tech and climate tech,” the firm said.

VIEW ALL

Commenting further, lead partner Nicholas Carney said: “It was great to work with the DEIT team again on an important partnership with Techstars, which will help develop NSW’s start-up ecosystem and contribute to Tech Central Sydney’s ambition of becoming the world’s most sustainable, inclusive and welcoming innovation district for tech companies, talent and investors.”