Founders of Australian sharing economy start-ups are bullish about their industry’s future, sharing a vision to grow collaborative consumption in Australia by 20X by 2025.

The vision was outlined at the opening of Australia’s first sharing economy accelerator, The Sharing Hub, in Pyrmont last night.

Over the past year, the number of people earning an income through sharing economy platforms in NSW has doubled from 45,000 to 92,000 people.

Revenue earned in NSW among major players in the sharing economy has grown 68 per cent over the past year from $1.6 billion to $2.6 billion in 2016, the equivalent of 0.5 per cent of the NSW gross domestic product.

The figures are contained in a new report produced by Deloitte commissioned by the NSW Department of Finance, Services and Innovation titled Developments in the Collaborative Economy in NSW.

The Sharing Hub, which was opened by Matt Kean, Minister for Innovation and Better Regulation, will house 28 start-ups.

“The sharing economy is still in its infancy, and there are endless potential to enable P2P exchanges through technology. This new and alternative socio-economic system embeds sharing, community, collaboration and trust at its heart, which is why The Sharing Hub has been launched to help companies succeed in this space and help consumers make a second income,” said Alexis Soulopoulos, co-founder The Sharing Hub.

The Sharing Hub is founded by four of Australia’s sharing economy entrepreneurs, including Will Davies, the CEO and co-founder of Car Next Door; Steve Orenstein, CEO and founder of Zoom2U; Alexis Soulopoulos, CEO and co-founder of Mad Paws and Mike Rosenbaum, CEO and co-founder of Spacer.com.au.

The Sharing Hub start-ups will have access to education, mentorship and investment opportunities, as well as provide a space for them to collaborate and share advice and experiences.

“We are already working with some of Australia’s most innovative P2P platforms and rolling out a series of events to teach how the gig economy can help business and consumers utilise idle assets and services. Our efforts also include working with the University of Sydney to teach budding entrepreneurs the fundamentals of this sector, alongside creating a graduate program to help create world class talent,” said Mike Rosenbaum, co-founder, The Sharing Hub.

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