<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The organisation behind of </span><a href="https://www.9news.com.au/australia" rel="" target="" title="Australia"><span>Australia</span></a><span>'s largest and longest-standing early stage start-up communities has collapsed into voluntary administration.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>KPMG Australia's Gayle Dickerson and Phil Quinlan will oversee a strategic restructing of not-for-profit Fishburners, which has fostered more than 35,000 entrepreneurs since 2011, including furniture company Koala and pet-sitting service Mad Paws.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The </span><a href="https://www.9news.com.au/sydney" rel="" target="" title="Sydney"><span>Sydney</span></a><span>-based hub supports tech founders by providing co-working spaces, programs and networking opportunities to help start-ups grow from idea to revenue.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/gold-coast-toddlers-condition-improves-after-inhaling-cake-decorating-dust/b93266d3-98ea-49f2-b4b1-d656a20c7fdc" rel="" target="" title="Gold Coast toddler's condition improves after inhaling cake decorating dust"><strong><span>Gold Coast toddler's condition improves after inhaling cake decorating dust</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The voluntary administrators have assumed day-to-day control of the operations of the organisation.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The company will continue to trade as usual as the administrators assess the business, in conjuction with an accelerated sale and recapitalisation process.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Dickerson said Fishburners had been a pillar of the Australian start-up ecosystem.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/fishburners-sydney-startup-hub-enters-voluntary-administration/77d2c4eb-ba42-4409-9c10-bba521c8c907" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We will seek expressions of interest from parties within the innovation and technology sectors and work with all stakeholders, including the board, employees and founders, to maximise the outcome," Dickerson said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The Fishburners board said in a statement members have determined a formal restructuring would be the most effective way to achieve a sustainable future.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"The board have been actively engaging in consolidation and investment discussions, which the Administrator will now pursue," the board said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>A first creditors meeting for Fishburners will be held on May 18.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><em><span>NEVER MISS A STORY:</span></em></strong><span> </span><strong><em><span>Get your breaking news and exclusive stories first by following us across all platforms.</span></em></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><ul><li><strong><em><span>Download the 9NEWS App here via</span></em></strong><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727" target="_blank"><strong><em><span>Apple</span></em></strong></a><span> </span><strong><em><span>and</span></em></strong><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU&amp;pli=1" target="_blank"><strong><em><span>Google Play</span></em></strong></a></li><li><strong><em><span>Make 9News your preferred source on Google by</span></em></strong><span> </span><a href="https://9.nine.com.au/8x987w" target="_blank"><strong><em><span>ticking this box here</span></em></strong></a></li><li><strong><em><span>Sign up to</span></em></strong><span> </span><a href="https://login.nine.com.au/edm?client_id=nineatnine" target="_blank"><strong><em><span>our breaking newsletter here</span></em></strong></a></li></ul></div></div>