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CBD business ventures supported through AEDA and Renew Adelaide partnership

Last updated 28 Nov, 2023

A new funding partnership between the Adelaide Economic Development Agency and Renew Adelaide will help launch and support 15 new business ventures across strategic locations in the CBD throughout the 2022 financial year.

Renew Adelaide is a non-for-profit organisation that provides start-up ventures and entrepreneurs the opportunity to test and trial their concepts under Renew Adelaide’s rent-free model.

As Adelaide begins to emerge from the global COVID-19 pandemic, this new partnership will provide new business and job opportunities, as well the supportive framework to trial new concepts without the financial risk of long leases, which in turn creates unique offerings that increase CBD visitation.

Renew Adelaide CEO Andrew White said this new partnership further supports the important work Renew Adelaide does in the city.

“We have recently celebrated 10 years of successful operations in the CBD, and in that time we have supported well over 200 new ventures,” White said.

“This past year alone, we have yet again achieved over 50 per cent of our ventures graduating to commercial leases and created over 50 new jobs.”

Renew Adelaide Chair Nick Begakis AO stated that the ongoing commitment made by AEDA further demonstrates the effectiveness of the program.

“This program increases CBD vibrancy and visitation as well as the positive economic impact that goes along with championing innovation and entrepreneurship,” Begakis said.

“This is further highlighted by the significant increase in demand for Renew Adelaide, with over 290 entrepreneurs seeking to launch new businesses in the CBD.”

The Adelaide Economic Development Agency was launched in January 2021 as a subsidiary of the City of Adelaide.

AEDA works closely with businesses, industry groups, state government and other organisations to drive economic growth, investment attraction and visitation to Adelaide’s CBD and North Adelaide.

AEDA’s Managing Director Ian Hill said the partnership with Renew Adelaide aligns with the objectives of AEDA’s Business Plan.

“The focus of AEDA is to position the city as one of the best places in the world to live, work, study, visit and invest. Renew Adelaide contributes to this by supporting new business ventures to trial their offer to the marketplace and fill underutilised retail spaces” Hill said.

“We are proud to support a program that aligns with our charter and supports economic growth”

Read more about Renew Adelaide and their offerings here and learn more about the Adelaide Economic Development Agency here

Stay tuned for season two of the Adelaide Living podcast to hear more from White and a city entrepreneur that Renew Adelaide has helped.