Funding boost to kick start business success on Sunny Coast

The Sunshine Coast University’s business innovation centre has received a $250,000 funding boost to continue their work cultivating and commercialising new businesses.

Treasurer and Minister for State Development and Trade Andrew Fraser said the University’s Innovation Centre Sunshine Coast (ICSC) provided a supportive environment for fledgling high-tech companies to significantly increase their chance of long-term success.

“Eighty local businesses got their first start through the ICSC business incubator resulting in more than 300 local jobs and $23.8 million in capital investment,” Mr Fraser said.

“We expect that we’ll be see many more businesses see similar success with this funding boost of $250,000 over two years.

“ICSC’s work is vital to building a local knowledge hub to diversify the local economy from traditional sectors of tourism, hospitality and retail.”

Mr Fraser said the State Government’s Department of Employment, Economic Development Innovation and Innovation also provided access to a range of support from local officers including business development programs.

Online marketing firm Traffika joined ICSC in 2009 and support has helped them recently set up a base in Hyderabad, India.

Mr Fraser said Traffika listed Bond University, Lorna Jane and SunSuper among its high profile local and international client base.

“Sustainable energy solutions company, Auzion is another success story to come from ICSC,” Mr Fraser said.

“Auzion now boasts staffs of 50 which has grown from a modest two in just two short years and their products are garnering international interest particularly in the United Kingdom.”

ICSC CEO Colin Graham said his organisation’s mission is to support the creation of high-value jobs in knowledge-based businesses with a focus on the Knowledge Precinct developing around the University of the Sunshine Coast at Sippy Downs.

“We have built a strong hub around the future-focused industries of information technology, clean technology, health technology and the creative industries,” Mr Graham said.

“Incubator membership gives our entrepreneurial clients tenancy and office facilities along with direct business support.

“They also become part of our large business network and gain access to investors and experts across a range of business management areas including finance, capital raising, leadership, intellectual property and commercialisation of products.

“We also help our members to identify potential graduate talent, with around 60 Sunshine Coast University students each year taking their first steps into the professional workforce with one of our clients.

“This is a win-win-win situation - companies benefit from fresh insight; students gain practical experience and the region retains highly-skilled workers.”

Since 2002, The Queensland Government has provided $1.625 million toward the ICSC, which is part of the University of the Sunshine Coast.

Over the next two years ICSC expects to deliver incubator services to a further 20 clients, create at least 60 high level jobs and help develop the regional innovation ecosystem through more than 30 workshops and seminars.

Permanent Link: Funding boost to kick start business success on Sunny Coast
Publish Date: 23 Jun 11

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