Summary Sheet

i.lab Incubator Pty Ltd

 

 

 

Administering Agency

 

Dept of Employment, Economic Devt and Innovation

Employment, Industry Development and Innovation

 

 

Why the Support is Provided?

 

Queensland’s first technology incubator, i.lab, is all about accelerating the growth of local hi-tech firms to drive growth in the local economy.

 

Established by the Queensland Government under the Innovation – Queensland’s Future Strategy, i.lab nurtures start-up businesses over a period of up to two years.

 

 

What Support is Provided?

 

The incubator service provides flexible, secure commercial office space and in the case of the bio.incubator at Eight Mile Plains, wet laboratory space.  More importantly, in addition to the actual facility, the service provides a comprehensive business advisory service including:

 

• Professional advice to develop business and management skills;

• 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:

 

• Legal and IP management;

• Financial management;

• Business management and planning;

• Accounting and taxation;

• Export planning;

• Human Resource management;

• PR and marketing;

• Technology commercialisation and valuation; and

• Capital attraction.

 

 

The Following Eligibility Criteria Apply:

 

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 1 to 2 years.

 

 

Committed Management Team:

Management team substantially in place 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.

 

 

Important Information:

 

For further information please make contact with i.lab directly by phoning

(07) 3227 9800, or visit i.lab’s website at www.ilab.com.au

 

To keep up to date with i.lab news you can register your email address in the i.lab Newsroom at www.ilab.com.au

.

 

What Costs are Involved?

 

No application fees apply.  However, should you be a successful applicant you will be required to pay monthly membership fees and sign a service agreement, which sets out the obligations of the parties, performance milestones and provisions for ongoing reviews.

 

 

Contact Details:

 

For further information or clarification, please contact the appropriate office.  Please dial the prefix +61 7 instead of (07) when calling from outside Australia.  Please note that you cannot dial 13, 1300 or 1800 numbers from outside Australia.

 

 

Chief Executive Officer

i.lab Incubator Pty Ltd

Level 1, Data 3 House

80 Jephson Street

Toowong Q 4066

(PO Box 2199 Toowong Q 4066)

Ph:  (07) 3327 9800

Fax: (07) 3217 8737

Website: www.ilab.com.au