The University of Sydney has welcomed the NSW Government's $25 million pledge to create the Sydney School of Entrepreneurship as a new collaborative venture in the higher education sector.
Announced this week as part of the NSW State Budget, the Sydney School of Entrepreneurship is a joint venture between NSW universities and TAFE NSW designed to promote innovation and develop the capabilities of emerging entrepreneurs in NSW.
The University of Sydney joins other NSW institutions as a member of the School, which will be closely modelled on the highly successful Stockholm School of Entrepreneurship.
"This announcement sets the scene for greater investment and collaboration across the higher education sector, adding to our existing efforts through programs such as Incubate and Genesis to support Australia's emerging innovators to pursue their entrepreneurial ambitions," said Dr Michael Spence, Vice-Chancellor and Principal of the University of Sydney.
"The new Sydney School of Entrepreneurship presents an opportunity to upskill more of our outstanding students with the practical tools to turn blue-sky thinking into the real-world innovations to change lives for the better.
"As outlined in our 2016-20 Strategic Plan, we are committed to providing rich learning experiences which engage students in innovative thinking, particularly through our new combined Bachelor/Bachelor of Advanced Studies model, which emphasises project-based and applied entrepreneurial learning.
"The Sydney School of Entrepreneurship complements these aims and will help foster additional start-ups and advancements across a range of careers and professions.
"We are delighted to be a part of the new Sydney School of Entrepreneurship and look forward to working with the NSW Department of Industry, other NSW universities and TAFE NSW to help devise best practice academic models for the School and world-leading educational opportunities for the next generation of Australian entrepreneurs."
The Sydney School of Entrepreneurship is expected to commence operations in the 2017 academic year.