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Sharing economy hub for Sydney

AAP logoAAP 26/10/2016 Tom Rabe

Sydney is getting a sharing economy accelerator to help new entrants into the sector that is tipped to boom in Australia.

Led by Uber and Airbnb, the sharing economy is growing in Australia with homegrown businesses such as GoGet, Car Next Door and Spacer already in the market and many more expected to follow.

Head of the accelerator Mike Rosenbaum, who is also the chief executive of storage space rental business Spacer, said the Sharing Hub will be aimed at supporting new businesses.

"There's already massive uptake of sharing economy thanks to AirBnB and Uber but, certainly, there are a lot more services coming on board," he said.

The idea behind the hub is that it will serve as a centre of information and support tailored for the sector's unique requirements.

"What we all identified was that the sharing economy has its own set of nuances and requirements," Mr Rosenbaum told AAP.

"We're breaking new ground and writing the rules as we go."

Representatives from several other sharing economies, including pet-sitting network Mad Paws and car-sharing service Car Next Door, are involved in developing the hub, which will be located in the Sydney CBD or inner suburbs.

Mr Rosenbaum said that unlike some other business accelerators, the Sharing Hub would not take a percentage of the clients' business.

"We're not looking to do that at all. We're really looking for this to be more of a collaborative sharing hub where each business comes in, obviously pays for any of the space that they utilise and any services we may share, but there is no sort of equity requirements, we don't take any equity stakes," he said.

Mr Rosenbaum said he wanted the Sharing Hub to become a "go-to authority" for government in the development of the sector.

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