Todd Street Business Chambers
Port Adelaide, South Australia
Lyn Hay, general manager
Year established: 1999
Incubator size: 9,967 square feet (leasable space)
Incubator clients: 25
Incubator graduates: 49
Achievements: The city of Port Adelaide Enfield started the Todd Street Business Chambers incubation program in 1999 to rejuvenate the small business economy in the region by attracting and growing new enterprises. For much of its history, the mixed-use incubator served a large number of entrepreneurs over the age of 40. "Our market has included people who are reshaping their life goals and careers and rekindling their passion and skills to exploit new opportunities in the marketplace," says General Manager Lyn Hay. But since 2006, the incubator has drawn a larger pool of young entrepreneurs as well, led by the economic revitalization of Port Adelaide and targeted business growth programs offered by Todd Street Business Chambers.
In its 10-year history, the program has graduated 49 companies that have produced combined annual revenue of AUS$147 million and created 148 full-time jobs. The growth hasn’t always been easy, though. "During the first five years of the incubator’s operation, Port Adelaide had a very limited stock of professional building space," Hay says. "This created a challenge to retain incubator graduates and their employees within the area." Since 2006, though, eight Todd Street graduates have constructed, purchased, refurbished and/or leased 21 local properties, adding to the region’s economic growth.
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