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ICT Incubators Program

Objective

The objective of the ICTIP is to support the better-performing incubators previously funded under the BITS Incubator Program to continue making a significant contribution to the national innovation system by:

  • identifying and supporting high potential ICT start-ups;
  • facilitating growth in employment, revenue and exports for the ICT start-ups;
  • assisting these ICT start-ups to secure financial and other support from third party sources (including venture capital firms, private investors, other technology firms, universities and government);
  • establishing mutually beneficial linkages with other elements of the Australian innovation system; and
  • adopting strategies to achieve ongoing financial self reliance without further Australian Government support beyond the period of the program extension.

All program funds have been allocated and no further funds are available for new incubators.

The ICT incubators provide incubation services, such as seed capital, business advice, and assistance with raising follow-on capital, to start-up ICT companies with the intent of accelerating their growth. ICT incubators have provided assistance to a number of firms which have gone on to win major national and international contracts, industry awards and attract considerable co-investment.

ICTIP incubators

While ICTIP incubators generally concentrate on companies based within their home state, some have accepted ICT start-ups which are located outside their home state into their incubator. Decisions on which companies are accepted into an incubator are solely the responsibility for each incubator, and are based on commercial principles and selection criteria published on their websites.

 
Document ID: 8200 | Last modified: 6 February 2008, 2:06pm