ICTIP Grants

Timsco Pty Ltd was one of ten companies around Australia which received funding from the Department of Communications, Information Technology and the Arts under the BITS program. In 2004, Timsco was successful in applying for a further round of funding under the successor program to BITS called the ICT Incubators Program (ICTIP).

The objective of the $36 million ICTIP is to support the better-performing incubators previously funded under the BITS Incubator Program to continue making a significant contribution to the national innovation system by:

identifying and supporting high potential ICT start-ups

facilitating growth in employment, revenue and exports for the ICT start-ups

assisting these ICT start-ups to secure financial and other support from third party sources (including venture capital firms, private investors, other technology firms, universities and government)

establishing mutually beneficial linkages with other elements of the Australian innovation system; and

adopting strategies to achieve ongoing financial self reliance without further Australian Government support beyond the period of the program extension.