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-------------------------------------------------------------- This story was printed from ZDNet Australia. --------------------------------------------------------------
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Telstra reveals broadband funding plans By James Pearce, ZDNet Australia June 18, 2002 URL: http://www.zdnet.com.au/news/business/soa/Telstra-reveals-broadband-funding-plans/0,139023166,120266047,00.htm
Telstra has finally announced how it plans to allocate the AU$50 million funding for broadband it promised at the World Congress on IT in February. The nation's incumbent telcoms carrier will inject AU$25 million into the Telstra Broadband Fund, which will provide seed funding for Australian companies developing tools, applications and technologies that will enhance the uptake of broadband. AU15$ million of this is contingent upon Telstra matching dollar for dollar contributions of at least AU$1 million from other industry participants. Telstra will not receive any propriety in the projects, but expects the increasing demand to benefit its broadband supply business. The remaining AU$10 million will be distributed in grants of no more than AU$250,000 per project. The telecoms giant will also be providing AU$20 million of broadband allocation at no charge, once again up to the value of AU$250,000 per project. -We've become impatient with foreign suppliers complaining about the lack of investment in broadband in Australia," Telstra Retail group managing director Ted Pretty told a press conference. -We've heard deathly silence since we announced the fund." He said that Telstra's move would combat suggestions that it wasn't doing enough to encourage broadband uptake. Dr Hugh Bradlow, chief technology officer for Telstra and chairman of the fund, said: -The goal of the fund is to develop new and innovative applications to encourage business and consumers to take-up broadband. The key step is to find high value applications which give value propositions." The fund is accepting applications between July 18 and the September 18, with final decisions to be made before Christmas. Funds will be made available as contractual obligations are met. Dr Bradlow said he expects companies to provide a threshold level of money to join with the fund, and reach a further threshold before it is administered. If the fund finds the AU$15 million of industry funding it will have AU$60 million under its administration. Pretty denied the uptake of broadband is slow because it is overpriced, and instead argued the value proposition is not there yet. The other AU$5 million of the money announced at the WCIT is earmarked for an advertising campaign.
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