The BITS program involves 10 incubators across the nation that can provide up to AU$450,000 in seed funding, along with business coaching and mentoring and access to channels to markets.
Almost half (15) of the companies graduating from the program are located in Victoria, with NSW claiming 10 spots, Queensland and South Australia two each and Western Australia and the ACT one each.
The Federal Government puts the success of the two Victorian Incubators down to their high-throughput models based on a fixed time period. Of the 2,474 applications received so far, around 1,000 were based in NSW and just over 400 in Victoria. Of the 158 companies accepted into the program, almost half of them are based in Victoria.
The Government has allocated AU$78 million for the incubators, with AU$46.64 million already drawn down for investment into fledgling companies. This has been boosted by $38 million in private funding to the BITS Incubators.
A statement from DCITA indicated the government believes the next two years will be a "challenging" time for the incubators, but looks forward to their continued success.
Whilst "government funding" might push "Aust IT companies Live", it would help if the qualifying criteria were somewhat broader than they are at present.
Seems no one in this country is prepared to fund the development of training materials. Our little company, Achieve Solutions, has had to cough up to develop materials covering Office XP, shortly to go to 2003 - the costs are enormous, the risks considerable. And yet, if we don't do it, have a look at some of the garbage out there on the market (if you can get Australian content). Most of it is foreign-owned, poor quality.
I would welcome the opportunity to discuss this with anyone who feels the same way or can show me how I can access some of this funding.
I am contactable at: Lynnwood.Gill@aimnet.com.au
Cheers
Lynn Gill AIMM AITD
Director,
Achieve Solutions Pty Ltd
6 November, 2003