The pilot program will be open to 50 people and will consist of five two-hour workshops in key business areas, and 48 hours of mentoring by some of Sydney’s most successful entrepreneurs and business people.

Lord Mayor Clover Moore said the program was designed to provide practical, useful support for start-up businesses.

“We want to give creative start-ups support when they need it most,” the Lord Mayor said.

“These people are creating businesses that will drive Sydney’s economy into the future, providing jobs and strengthening our links with cities around the world.

“Contributing $20,000 to this unique collaboration will help build on Sydney’s role as a national centre for creative and technology businesses.”

The City of Sydney, University of Technology Sydney and Hub Sydney have teamed up to deliver the Practical Business Learning for Entrepreneurs: UTS@HUB program, which will nurture, educate and connect people as they develop their creative businesses.

UTS Business School Dean, Roy Green, said supporting innovation and entrepreneurship through initiatives such as UTS@HUB would be one of the keys to Australia’s economic future beyond the mining boom.

“This will involve the creation of new business models, supporting and encouraging emerging innovators, and assisting them with the development and take-up of new technologies,” Professor Green said.

“The most successful economies in the world are committed to putting research and innovation at the forefront of everything they do.”

Fast growing tech-based ventures, as well as creative people working in more traditional industries, such as ceramics, filmmaking and graphic design, are encouraged to enrol in the UTS@HUB program.

The workshops will be held at Hub Sydney’s co-working space at 101 William Street, Darlinghurst, which is part of the City’s Creative Spaces program.

A March report by StartupAUS found there were over 1,500 start-ups in Australia, with 64 per cent based in Sydney. These businesses include ShoesofPrey.com, WeNeedaNanny.com.au and Freelancer.com, the world’s largest outsourcing marketplace.

StartupAUS predicts the tech start-up sector, if supported, has the potential to contribute over $109 billion, or four per cent of gross domestic product, to the Australian economy, and 540,000 jobs by 2033.

For more information about the program, email Executive.development@uts.edu.au