Stone & Chalk open exciting new hub in Adelaide

Australia’s leading innovation incubator Stone & Chalk confirmed its status as the dominant player growing Australia’s next  start-ups by opening an exciting new hub in Adelaide today. 

Stone & Chalk say the new hub in South Australia will be a magnet for entrepreneurs wanting to build companies that can both solve problems and create new opportunities in the defence and space industries. 

Stone & Chalk CEO Alex Scandurra said the Adelaide hub will help South Australia’s companies with high growth potential to commercialise and scale their projects with an additional focus on the defence and space sectors.

This builds on the recent establishment of the Australian Space Agency and the Federal Government’s ongoing investment in the defence industry in South Australia.

“At Stone & Chalk we are determined to help Australian entrepreneurs build high growth, technology-based companies that serve global markets,” Mr Scandurra said.

“That creates value for our economy and leads to employment opportunities for generations of Australians.

“We’re here to help people make their ideas come to life.”

He said that with the Sydney and Melbourne hubs already representing more than 80 per cent of the Fintech industry in Australia, the Adelaide hub gives Stone & Chalk an opportunity to create Australia’s largest start-up and scaleup community.

“As an example we can now orchestrate support for a startup in Adelaide with a potential customer in Melbourne and an investor or customer in Sydney,” he said. 

“We’re keen to hit the deck running.”

The Adelaide hub will also contribute to Australia’s focus on keeping pace with global technology challenges from America’s Silicon Valley, Singapore, Israel and Europe.

“The Adelaide Stone & Chalk hub will become a home for the most creative and innovative minds in South Australia,” said Mr Scandurra

“We’ve already being approached by entrepreneurs wanting to join  us at the new hub and we’re open to like-minded people who have a concept they want to commercialise.

 “We are excited to welcome Adelaide to our community across Sydney and Melbourne where people come to both grow as individuals and to succeed with their businesses.

“It’s an excellent space to work with other entrepreneurs to incubate, share experiences and networks, and, in some cases, collaborate commercially on opportunities.”

South Australian premier Steven Marshall and his Minister for Industry and Skills, David Pisoni, welcomed Chalk & Stone to Adelaide.

“Stone & Chalk was the obvious choice as a strategic innovation partner to help South Australia stake its claim in the innovation age,” he said. 

The Adelaide hub continues Stone & Chalk’s meteoric rise to the forefront of Australia’s innovation and entrepreneurship sector that have promoted so many promising projects into the market.

Since opening Australia’s first dedicated Fintech hub in Sydney in 2015, Stone & Chalk now has 680 entrepreneurs in more than 140 start-ups that have collectively raised around $330m in funding.

“We have a vibrant community of early stage companies, high growth companies, established companies, regulators, mentors and investors,” Mr Scandurra said.  

“They all come together to create a powerhouse of opportunity through the perfect mix of ingenuity, innovation and collaboration.”

Stone & Chalk have 27 corporate partners and the company’s success rate includes 142 startups graduating, 21 startups launched and 26 companies exporting.

“Together with government, our corporate partners and key industry associations, Stone & Chalk is creating a national innovation and entrepreneurial marketplace which is driving development of our future industries and the economy.” Mr Scandurra said.