New technology-based ventures ready for a growth spurt have just nine days left to apply for a Germinate Grant from technology accelerator and business incubator, ilab.
Initiated and funded by the Queensland Government, ilab supports entrepreneurs and early stage, high-tech companies through the first few years of development.
ilab Program Director, Leigh Angus, said the second Germinate program for 2012 included a unique package of services designed to help start-up founders boost their business acumen and extend their industry networks, plus scholarships for university students to work on their business ideas over the summer semester break.
“Half the successful candidates for the first round of Germinate grants were students, so we are going to encourage this youthful entrepreneurialism by offering two scholarships of $4,000 each, in addition to grants of up to $20,000 to get new tech-driven businesses up and running,” Ms Angus said.
“The Germinate project grants have already helped several incubatees access qualified software developers and business consultants, as well as free IT services, office space and resources to help keep their operating costs down.
“They’ve also benefited from ‘how to’ boot camps, guest lectures and coaching for investor pitching, and now we want to make all these advantages available to another cohort of new Australian enterprises,” she said.
Applications close on Sunday 11 November.
Sponsors such as Ninefold, Swayve, and Ernst & Young contribute services to the program, alongside a growing list of volunteer mentors and business coaches from Australia, the US and the UK who share their expertise in venture capital funds management, start-up development and directorships, technology commercialisation, and entrepreneurship.
Applications are invited from candidates in Queensland, other Australian states and overseas who can spend three months elaborating and validating their technology business ideas at the ilab incubator in Brisbane.
“The Summer Germinate Program will kick off with a Business Building Bootcamp held at ilab’s Indooroopilly premises from 19 – 22 November,” said Ms Leigh.
“It’s an opportunity for workshopping ideas and presenting them to a number of technical and business mentors as well as the Germinate program selection panel. After the bootcamp, we’ll be inviting a number of participants to continue with us for three months with full support from ilab mentors and management as well as a grant of up to $20,000 for further technical and business development.”
Matthew Hennegan, one of the first to benefit from ilab’s Germinate program said, “the quality of speakers and information provided by ilab in the ‘boot camp’ weeks was well above what I could have expected, and has had a direct impact on the formation of Ample Entertainment”.
Mr Hennegan and his Germinate program colleagues will be ‘graduated’ on 15 November.
To apply for an ilab Germinate grant or obtain more information, visit www.ilab.com.au
About UniQuest Pty Limited
Established by The University of Queensland in 1984, UniQuest is widely recognised as one of Australia’s largest and most successful university commercialisation groups, benchmarking in the top tier of technology transfer worldwide. From an intellectual property portfolio of 1,500+ patents it has created over 70 companies, and since 2000 UniQuest and its start-ups have raised more than $450 million to take university technologies to market. Annual sales of products using UQ technology and licensed by UniQuest are running at $3 billion. UniQuest now commercialises innovations developed at The University of Queensland and its commercialisation partner institutions: the University of Wollongong, University of Technology Sydney, James Cook University, University of Tasmania, Mater Medical Research Institute, and Queensland Health. UniQuest also provides access to an expansive and exclusive network of independent academics to tailor a consulting or project R&D solution to meet the diverse needs of industry and government, facilitating some 500 consulting, expert opinion, testing, and contract research services each year. UniQuest is also a leading Australasian provider of international development assistance recognised for excellence in technical leadership, management and research. Working with agencies such as AusAID, NZAID, the Asian Development Bank and the World Bank, UniQuest has developed and implemented more than 400 projects in 60+ countries throughout the Pacific, South-East Asia, the Indian sub-continent and Africa. www.uniquest.com.au
ilab was established by the Queensland Government in 2000 to support early stage, high-tech companies through the first few years of development by building their business management capabilities, fostering mentor networks for start-up founders, creating investor ready companies, and graduating companies with increased chances of success. ilab has incubated over 100 start-up companies and helped then them raise over $70 million in grant and investment capital to fund their growth and generate nearly 400 technology jobs. UQ Holdings Pty Ltd, a wholly owned subsidiary of The University of Queensland (UQ), acquired ilab in 2009. With continued funding from the State Government, ilab has become an independent division of another UQ Holdings subsidiary, UniQuest, with its own funding, staffing and management structure.
P: +61 (0) 488 411 206