ilab Incubator and Accelerator, a division of UniQuest Pty Ltd - Queensland

Service summary

Why the Support is Provided?

ilab runs a 3 month germinate program with grant funding for business concepts and provides incubation services through space, skills, mentoring and support to accelerate the growth of early-stage technology businesses to drive growth in the local economy.

Established by the Queensland Government under the Innovation - Queensland's Future Strategy, ilab ownership was transferred to the University of Queensland in 2010 and is now a division of UniQuest Pty Limited.

What Support is Provided ?

The incubation service provides a comprehensive business advisory service including:

  • Professional advice to develop business and management skills
  • Office space as required
  • A grant of up to $20k for emerging businesses based on entry into a half yearly application cycle and program
  • Technical expertise to assist product development
  • Mentoring from experienced business people
  • Introduction to Business Angel and venture capital investors; and
  • International networks and contacts.

The areas of professional and technical advice available to members are:

  • User Experience Design
  • Lean marketing
  • Agile development
  • Legal and IP management
  • Financial management
  • Business management and planning
  • Accounting and taxation
  • Export planning
  • Human Resource management
  • Technology commercialisation and valuation; and
  • Capital attraction.

Service type

Support Service

A service offered by government to aid in running a business.

Eligibility requirements

The criteria for entry to the Incubator are:

Demonstrably Marketable:
With an identified existing or potential market advantage and a substantial identified market.

Commercially Attractive:
Likely to appeal to investors and/or offering opportunities for joint venturing.

Close to Market:
With a product likely to reach market within one -  two years.

Committed Management Team:
Management team identified and receptive to 'coaching'.

Adequate Finance:
To fund the business in the medium term, including meeting the obligations to the incubator.

Technology Based Business:
Commercialising the results of R & D activities and with ownership or agreed use of the intellectual property required for the business.

Attractive to the State:
Likely to contribute to Queensland's economy in terms of employment, exports, investment, innovation and revenue growth.

Additional information

For further information please make contact with ilab directly by phoning

(07) 3365 4037, or visit ilab's website at http://www.ilabaccelerator.com

To keep up to date with ilab news and events you can register your email address in the ilab Resources area of http://www.ilabaccelerator.com

Administering agency

Department of Science, Information Technology and Innovation
Digital Productivity and Services Division
Innovation Partnership & Commercialisation Services

Contact details

Program Director
Department of Science, Information Technology and Innovation
Digital Productivity and Services Division
Innovation Partnership & Commercialisation Services

Operating address:
ilab Incubator
Gate 4, 80-120 Meiers Road
INDOOROOPILLY
Queensland 4068
Mailing address:
PO Box 6069
ST. LUCIA
Queensland 4037

Phone:

07 3327 9800

Fax:

07 3217 8737

Website:

ilab Accelerator Opens in a new browser window

Disclaimer

The information contained on the Australian Business Licence and Information Service (ABLIS) web site, or via packages or other sources is intended for general guidance only.

To the full extent permitted by law, the Federal, State, Territory and Local Governments make no representations or warranties (expressed or implied) in relation to the information, including its accuracy, currency or completeness.

The business information provided does not constitute professional or legal advice, nor is the use of any third party resource an endorsement of the information contained, the associated organisation, product or service. It is recommended that you obtain appropriate professional and /or independent legal advice to ensure that the material provided here is relevant to your particular circumstances.

To the full extent permitted by law the Federal, State, Territory and Local Governments, their employees and agents do not accept any liability for any reason, including without limitation, liability in negligence, to any person for the general information which is provided herein, or in respect of anything, including the consequences of anything done, or not done, by any such person in whole or partial reliance upon the information.