'This program will boost Australia's IT industries, which are the driving
forces behind the nation's strong economic and employment growth.
'BITS will fund the establishment of at least one "information
industries"
incubator in each mainland state and territory. There is a separate
program
for Tasmania.
'These incubators will promote innovation and commercial success in the
information industries by encouraging the creation and growth of new
high-technology firms.
'Australians have a record for being innovative and creative, and the new
incubator centres will assist new and aspiring entrepreneurs to turn
their
technology ideas into successful, globally competitive businesses.
'As well as providing much needed management, financial and technical
advice, the program will provide assistance towards the costs of start-up
firms and concept development funding for multimedia and other product
and
service projects.
'Projects receiving a grant will also need to have capital provided by
private
investors who can contribute to building the new firm or project.
'The incubator centres will be a hub of support and information for new
and
growing firms. They will stimulate the formation of clusters of
innovative,
dynamic information technology firms and promote innovation and new
skills
in industry and the research community.'
The Department of Communications, Information Technology and the Arts has
called for proposals from consortia and organisations to operate the
incubator centres. Information sessions for potential applicants will be
held
in mainland capital cities between 2 and 8 December 1999.
