Published Thursday, 22 February, 2007 at 01:41 PM
JOINT STATEMENT
Premier and Minister for Trade
The Honourable Peter Beattie
Minister for State Development, Employment and Industrial Relations
The Honourable John Mickel
PREMIER ANNOUNCES SMART STATE START-UP GRANTS
Premier Peter Beattie today in Parliament announced the latest round of grants under the Queensland Government Innovation Start-Up Scheme.
“Active Torque, River Logic, DelvTech International and CatchLog Trading Pty Ltd have been selected because they are innovators from across Queensland who have bright business ideas and promising products,” Mr Beattie said.
“This funding program is a significant investment and is what the Smart State is all about – encouraging innovations that are going to transform our industries and our economy,” he said.
“For each of the recipients, their ideas are not only innovative but inspirational – taking a new approach to a problem and finding a workable solution that makes business sense.
“The grants, each of $85,000, will help them test and promote their products and go down the complex path of commercialisation.”
To date the funding program has provided a total of $5.2 million in seed funding to 71 projects since it started in 2000.
The round eight recipients are:
Active Torque (Brisbane): It will use the funding to further develop its optimising engine performance system. The company’s flywheel torque sensor is the first product of its type, and will allow its tuning technology to be retrofitted to existing vehicles. It could also increase fuel efficiency between 3-5%.
DelvTech International Pty Ltd (Bribie Island): It will continue testing its patented ‘First-Relief Inhaler’. This is a portable, lightweight and disposable device that enables the user to safely self-administer short-term pain relief.
River Logic Pty Ltd (North Rockhampton): It will continue developing its “SNAPIT” device. This is a reusable unit that locks onto the top of glass ampoules, like those containing intravenous drugs. The invention allows nurses to literally “snap off” the top without cutting their fingers, risking contamination or waste.
CatchLog Trading Pty Ltd (Cairns): The company has developed a new electronic logbook which is tailor-made by, and for the fishing industry. It features GPS satellite navigation and monitors conditions. The grant will be used to develop an intellectual property strategy and accelerate the marketing of software overseas.
Minister for State Development John Mickel said the Innovation Start-Up Scheme was specifically designed to help early stage companies move from the laboratory to the marketplace.
“I can assure each recipient that the Queensland Government, through its Department of State Development, will be there to work with them as they take their ideas into the global arena,” Mr Mickel said.
The Minister also congratulated River Logic on winning the People’s Choice Award on last week’s ABC New Inventors Program.
“This is great national exposure for a terrific invention by young emergency nurse Glen Riverstone – I hear the phone has been running hot since the program aired and I look forward to hearing of SNAPIT’s progress,” he said.
Media Contacts:
• Active Torque Pty Ltd, Mr David Robinson (CEO), 0410 568 849
• River Logic Pty Ltd, Mr Glen Riverstone (CEO), 0402 437 727
• Delvtech, Mr David Wharton (CEO), 0400 600 635
Premier’s Office 3224 4500
Minister’s Office Chris Brown 3224 7349 or Elouise Campion 3224 6784.
“Active Torque, River Logic, DelvTech International and CatchLog Trading Pty Ltd have been selected because they are innovators from across Queensland who have bright business ideas and promising products,” Mr Beattie said.
“This funding program is a significant investment and is what the Smart State is all about – encouraging innovations that are going to transform our industries and our economy,” he said.
“For each of the recipients, their ideas are not only innovative but inspirational – taking a new approach to a problem and finding a workable solution that makes business sense.
“The grants, each of $85,000, will help them test and promote their products and go down the complex path of commercialisation.”
To date the funding program has provided a total of $5.2 million in seed funding to 71 projects since it started in 2000.
The round eight recipients are:
Active Torque (Brisbane): It will use the funding to further develop its optimising engine performance system. The company’s flywheel torque sensor is the first product of its type, and will allow its tuning technology to be retrofitted to existing vehicles. It could also increase fuel efficiency between 3-5%.
DelvTech International Pty Ltd (Bribie Island): It will continue testing its patented ‘First-Relief Inhaler’. This is a portable, lightweight and disposable device that enables the user to safely self-administer short-term pain relief.
River Logic Pty Ltd (North Rockhampton): It will continue developing its “SNAPIT” device. This is a reusable unit that locks onto the top of glass ampoules, like those containing intravenous drugs. The invention allows nurses to literally “snap off” the top without cutting their fingers, risking contamination or waste.
CatchLog Trading Pty Ltd (Cairns): The company has developed a new electronic logbook which is tailor-made by, and for the fishing industry. It features GPS satellite navigation and monitors conditions. The grant will be used to develop an intellectual property strategy and accelerate the marketing of software overseas.
Minister for State Development John Mickel said the Innovation Start-Up Scheme was specifically designed to help early stage companies move from the laboratory to the marketplace.
“I can assure each recipient that the Queensland Government, through its Department of State Development, will be there to work with them as they take their ideas into the global arena,” Mr Mickel said.
The Minister also congratulated River Logic on winning the People’s Choice Award on last week’s ABC New Inventors Program.
“This is great national exposure for a terrific invention by young emergency nurse Glen Riverstone – I hear the phone has been running hot since the program aired and I look forward to hearing of SNAPIT’s progress,” he said.
Media Contacts:
• Active Torque Pty Ltd, Mr David Robinson (CEO), 0410 568 849
• River Logic Pty Ltd, Mr Glen Riverstone (CEO), 0402 437 727
• Delvtech, Mr David Wharton (CEO), 0400 600 635
Premier’s Office 3224 4500
Minister’s Office Chris Brown 3224 7349 or Elouise Campion 3224 6784.