Google says the cash will be help build a hub for research, enable increases in cloud computing capability and provide the funds to form local organisational partnerships.
The move – named the Digital Future Initiative – may result in the creation of 6,000 positions and benefit 28,000 in total. Google boss Sundar Pichai said:
“The decision by Google has major benefits for Australian businesses as we engage with the economic recovery before us.”
“It takes money to move an idea into innovation and the first money is the hardest to come by…If Google cut $250k cheques to promising start-ups, they could fund 4,000 new tech companies in Australia,”
‘Silicon Valley of the Southern Hemisphere’
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The move takes Australia’s iconic city one step nearer to realising it’s dream of being the ‘Silicon Valley of the Southern Hemisphere’.
Notwithstanding this good news, tech giants have been in the crosshairs recently in Australia for not paying nearby news distributers for content carried on their foundation. They have likewise been blamed for aiding the spread of disinformation. There is no evidence at this stage that Google’s move is meant to turn the tide of public opinion, however today’s announcement will certainly furnish greater positive local public sentiment.