Launched on Thursday by Federal Treasurer Scott Morrison, the incubator received a co-investment of $500,000 from the Australian Government to match industry contribution.
The New South Wales Government, one of four anchor tenants in the new start-up hub, also gave its support in the form of a rent subsidy.
The Studio founder and chief executive, Chantal Abouchar, said its strengths were its industry focus and collaborative approach.
“That’s precisely why our model brings a critical mass of established industry players together with startups and scaleups. For example, we already have startups working on a peer-to-peer program with Animal Logic, and Dolby is now working with a startup on new content, while their own innovation team has just done an off-site program here with all our residents.”
According to Abouchar, these examples also demonstrate how important it is that Australia's outlook for the workplace of the future must be global.
"Australia’s media industry has historic form globally and today’s launch helps to ensure that tradition is set to continue.
"This is also proof that the type of support the Federal Government has provided makes so much sense and will help pave the way for the future."