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

Description

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

University of Queensland

Contact details

Contact Email, Phone and Address Details for this service in simple two column table format, header then data.

Please use these contact details for help or more information:

University of Queensland

Operating address: UniQuest
Level 7 General Purpose South Building
Staff House Road
St Lucia QLD 4067
Operating address: UQ ilab, Global Change Institute
Building 20, ground floor
Staff House Rd
St Lucia QLD 4072
Contact us phone: 07 3365 1111
Email: ask@uq.edu.au
Contact us website: Startup Academy (Opens in new window)
Website: UniQuest information (Opens in new window)