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Incubator gets $10m

THE LARGEST information technology and communications incubator project in WA has been launched under the Federal Government’s $76 million Building on Information Technology Strengths program.

WA consortium Perth Ideas Centre of Technology has been allocated $10 million to establish an incubator centre across two sites – Technology Park in Bentley and the Advanced Manufacturing Technologies Centre in East Perth.

The PICT group comprises three industry bodies and a private company: Imago Multi-Media Centre, The Australian Telecommunications Co-operative Research Centre, Software Engineering Australia and Zernike (Australia) Pty Ltd.

The consortium will provide financial assistance of about $175,000 a year to ten start-up operations for a five year period.

After five years, the incubator is expected to be self-funding.

Commerce and Trade Minister Hendy Cowan said a shortage of seed funding for Australian companies in the ITC sector had presented a major impediment to growth.

“Apart from the initial funding, emerging companies will be helped with advice from experienced practitioners and links with international networks,” Mr Cowan said.

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