Wyndham’s Entrepreneurial Ecosystem: Planning for a Digital Future

This evaluation report presents a detailed overview of Wyndham City’s Entrepreneurial Ecosystem, emphasising the important advancements made since the SPARK Innovation Hub’s inception. SPARK has a pivotal role as a catalyst for economic prosperity in the region and could be the innovation centre for Melbourne’s west. Drawing upon a rich blend of qualitative and quantitative research methodologies, this report builds upon the foundations laid by the Wyndham Investment Attraction Plan–The Start-Up Angle (2018-2019) and the Small Business Hub Feasibility Study (2019), to offer a currentstate analysis of the ecosystem’s evolution and its alignment with broader digital objectives. Through the implementation of strategic initiatives, such as fostering strategic partnerships with local institutions, SPARK has successfully transitioned entrepreneurs from ideation to Start-Up, thus enhancing the local environment for innovation and sustainability. The SPARK Innovation Hub, conceived as a response to identified gaps within the region’s support for Start-Ups, has been pivotal in nurturing a collaborative environment tailored to the unique needs of Start-Ups and scale-up companies. The dynamism inherent in the Start-Ups culture renders the region a magnet for investment. This investment appeal is not restricted to Start-Ups but extends to micro-businesses and SMEs embracing Start-Up thinking to reorient towards scalable, national growth. As such, these entities contribute to local economic stimulation, catalysing further business opportunities towards fortifying the financial vitality of the area. This report makes an essential distinction between entities that are ‘starting-up’ with local operational confines and those with national or global scalability potential. It underscores that while both scale-ups and Start-Ups can be galvanised through entrepreneurial ecosystems, the application of Start-Up methodology is universally advantageous, transcending growth aspirations to bolster success and profitability at every business stage. SPARK Innovation Hub has emerged as a critical facilitator in this regard, enabling a number of Start-Ups to flourish by providing support structures, access to experienced mentors, and investment pathways. While acknowledging the success stories, however, this report underscores the ongoing need to foster a more diverse range of industries within the Start-Up landscape and to develop comprehensive strategies that address the current deficiencies in early-stage funding, mentorship, and commercial infrastructure. This present report affirms that Wyndham City Council, through the establishment and development of the SPARK Innovation Hub, has taken commendable steps towards creating an inclusive and dynamic entrepreneurial ecosystem. The Council’s ongoing commitment to this endeavour would be set to propel the region towards an enterprising digital future, by embracing the outlined recommendations and continuing to adapt its strategies in the ever-evolving landscape of innovation and entrepreneurship. The application of Start-Up methodology fosters the development of entrepreneurial ecosystems, which provide support, resources, and networking opportunities for Start-Ups. These ecosystems help in nurturing and scaling innovative businesses. Start-Ups play an essential role in the economic health of local government areas, are catalysts for thriving ecosystems, providing several key benefits that can transform the local economic landscape.