Google to speculate £550m in Australia
IMAGE SOURCE: GETTY IMAGES
US tech giant Google plans to make its largest ever investment in Australia. Google says the money will be used to build a research center, increase its cloud computing capacity, and fund partnerships with local organizations.
The move, named Digital Future Initiative, is intended to create 6,000 jobs and support a total of 28,000.
“Australia can help lead the next wave of innovation in the world by using technology to improve lives, create jobs and make progress,” said Google CEO Sundar Pichai at the launch of the initiative in Sydney.
Australian Prime Minister Scott Morrison, who also attended the event, welcomed the plan. “Google’s decision has great benefits for Australian companies as we grapple with the economic recovery ahead,” said Morrison.
The investment will see the company partner with local organizations including the Australian science agency Commonwealth Scientific and Industrial Research Organization (CSIRO).
Cyber investment firm DivisionX Global described Google’s announcement as a “big win” for Australian technology. “It takes money to turn an idea into an innovation, and the first money is the hardest to come by,” Joshua Kennedy said
“If Google cuts checks by $ 250,000 on promising startups, they could fund 4,000 new tech companies in Australia,” he added.
The investment is another important impetus for Sydney’s ambitions to become the “Silicon Valley of the Southern Hemisphere”.
Construction of Tech Central, a multi-billion dollar hub in central Sydney, is slated to begin next year and is expected to continue through 2026.
