Australia’s Tech Hub Attracts Wealthy Companies
Australia’s version of Silicon Valley is expanding, as five tech companies owned by parent company Block are moving into Sydney’s Tech Central precinct, designed to be a hub for innovation. Despite this move, the companies will maintain their work-from-home policies, with the headquarters serving as a landing pad and meeting space for employees when needed.
Afterpay, Square, Cash App, Tidal, and TBD—all under Block—announced their relocation to Tech Central on Aug. 23. They will be situated in an office within the historic Brewery Yard building in Chippendale, alongside other tech firms like Atlassian, in a 25-hectare space meant to unite established and start-up businesses.
Katrina Konstas, the executive vice-president of Afterpay, shared that the company had been planning this move since 2021, but faced delays due to the COVID-19 pandemic.
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Australian’s unique approach to Silicon Valley is crucial for fostering collaborations, according to Konstas. She believes that being surrounded by inspiring brands and organizations that challenge norms can lead to innovative partnerships. This move is expected to establish Australia as a leading tech market with a brand of innovation.
The New South Wales (NSW) Government initiated the Tech Central hub in 2020, investing $48.2 million (US$32.4 million) to develop it. This area spans six Sydney suburbs, including Surry Hills and Haymarket, located within 1.5 kilometers of the CBD, near the University of Sydney and CSIRO.
The headquarters of Atlassian, the anchor tenant of the hub, is slated for completion by October 2026. Block’s base, spanning three floors, features 70 permanent desks, informal workspaces, a sizable event area, and designated rooms for training, games, and meditation.
In the first week of operation, 80% of Block’s employees visited the office, with expectations of using it for client meetings, brainstorming sessions, and events. However, the work-from-home policies will not change to compel employees to work from the building.
Konstas remarked, “If you’ve been to Silicon Valley recently, it’s quite vacant. The distributed workforce, especially in the tech sector, has significantly impacted these tech hubs. Nevertheless, we are dedicated to offering our employees a collaborative, dynamic workspace that allows for flexibility in coming in for collaboration purposes.”
Similar endeavors to establish an Australian tech hub have focused on Cremorne, an inner-city suburb in Melbourne, hosting businesses like Seek, Carsales, and MYOB. A study by the CSIRO and Tech Council identified four tech industry “super clusters” in Sydney, Melbourne, Brisbane, and Canberra last year.
