National Australia Bank (NAB) and Western Sydney University (WSU) have unveiled a commitment to entrepreneurship and innovation in Western Sydney, extending their partnership with Western Sydney University's award-winning Launch Pad Business Incubator for three years.
The additional investment into Launch Pad's projects is just one part of the Memorandum of Understanding (MoU) signed by NAB and WSU.
Anthony Healy, Chief Customer Officer – Business and Private Banking said the partnership also includes plans for co-location of university services at NAB's new high-rise offices at Parramatta Square and the development of education programs for NAB customers.
Employment pathways and work experience opportunities for Western Sydney University students at NAB will also be explored.
"Western Sydney is experiencing an investment boom – they are the third largest regional economy in Australia and home to more than 240,000 local businesses. We have over 1600 NAB employees in Western Sydney to support and partner with our customers," Mr Healy said.
"Collaborating with academic bodies like WSU through the Launch Pad Business Incubator ensures we stay connected to the local community and continue to foster local entrepreneurship," he added.
NAB will be the anchor tenant in new offices in Parramatta Square from 2020, accommodating a significant number of NAB bankers and further accelerating NAB's investment in the Western Sydney economy.
"Our proximity to Western Sydney University will enhance the connection between the university and our bankers, ensuring customers access valuable insights to keep growing their business or start-up," Mr Healy said.
This announcement also complements the University's 'Western Sydney Innovation Corridor' economic development strategy.
"As Australia's fastest growing regional economy, Western Sydney has the investment and entrepreneurial spirit to transform the region into a global technology hub – we will drive new industries and create smart jobs for the future," said Professor Scott Holmes, Senior Deputy Vice Chancellor.
Professor Scott Holmes, Senior Deputy Vice Chancellor added: "We are delighted to partner with NAB for a further three years and work together with Australia's biggest business bank to support, foster and grow Australia's next growth story, happening right here in Western Sydney."
About Launch Pad Business Incubator
- Established in 2015, Launch Pad is a one-stop shop business and innovation support program that provides facilities, assistance and resources for start-up and high growth technology based businesses in Western Sydney.
- Launch Pad Business Incubator, supported by NAB and other partners, has supported the creation of 365 new jobs in the start-up community.
- For the entrepreneur, Launch Pad promotes an end-to-end innovation experience, augmented by direct engagement with the applied research and expertise of one of Australia's largest and fastest growing universities.
