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Legislative Assembly for the ACT: 2003 Week 7 Hansard (25 June) . . Page.. 2466 ..
MR QUINLAN (continuing):
include that organisations must be ACT based or focused, they must demonstrate financial viability for at least 12 months, they must have the capacity to increase employment and they must typically turn over less than $5 million per annum. They must provide annual reports of outcomes achieved for up to three years after the completion of the assistance provided. They must be able to identify the potential for commercial outcomes and they must be able to demonstrate sound management capabilities.
To date, 71 separate grants have been given, totalling over $4 million. Members may be aware that I recently announced the last round of grants to 15 organisations that came to $817,000 worth of assistance. Among the recipients were the Micro and Home Business Association, which provides assistance to the small and micro business community; Earthinsite.com Pty Ltd, which works with satellite survey technology; Irrational Games Australia, which is seeking assistance in commercialising new games via the internet; and Video Alert, which is working on the use of broadband technology for surveillance and security systems.
It is clear that the knowledge-based industry in the ACT has reacted enthusiastically to the knowledge fund, which has given a much needed boost to the industry in the ACT.
MR HARGREAVES
: Is the minister aware of any companies that have received knowledge fund support that have gone on to success with their products nationally or internationally?MR QUINLAN
: Yes, thank you again, Mr Hargreaves, because it is very gratifying to see that, within a short space of time, a number of industries have gone on to bigger and better things as a consequence of the assistance provided by the government through the knowledge fund.A company called Intology, a locally grown company that operates in the knowledge management area, has developed innovative technology that targets knowledge management by emphasising content and meaning rather than simply data aggregation.
Mr Smyth
: We helped them out as well.MR QUINLAN
: I am right into this. It has recently received a Microsoft ACT customer application of the year award for 2003. Intology, as a recipient of the knowledge fund, has been able to gain the following advantages from the recent grant funds:it has completed integrating its IP, which is called Klarity, into Microsoft Office,
it has become a Microsoft certified development partner,
it has extended its value propositions to a much larger Microsoft market,
it has been able to engage several other local companies to assist in the commercialisation process,
it has produced a business sales and marketing plan that is bringing in revenue now, and
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