Thereitis.com scoops grant

Innovate SA would like to congratulate client and SA based visual search technology provider Thereitis.com - one of 19 recipients awarded Federal Government Commercialisation Australia Grant funding.

Other SA recipients also included Signostics Limited and Real Time Data.

Thereitis received a $250,000 Proof of Concept Grant to further develop their revolutionary software announced at the 2011 AusBiotech CEO Forum by Innovation Minister Senator Kim Carr recently.

Innovate SA Chief Executive Greg Boundy explains, “Innovate SA would like to congratulate Thereitis.com on their successful Grant application.

“It has been a pleasure to see Thereitis.com taking part in Innovate SA’s Venture Capital and Growth programs and targeted training and mentoring.

“We look forward to helping to further develop the company’s entrepreneurial skills and business growth,” Greg says.

According to Thereitis.com CEO Guy Sewell, “Being selected from a highly competitive grant field is a validation from the Federal Government that the Thereitis.com ‘go to market strategy’, core technology and IP protection are solid and have global market potential.

“The funding will allow us to ‘ramp up’ new product development, validate our value proposition and move the technology onto an ever increasing range of platforms and applications, with the medium term goal of launching into a global customer base,” Guy says.

He added, “The support from Innovate SA has been critical throughout the commercialisation process.

“Having the Innovate SA team on ‘speed dial’ to answer any questions that I have is invaluable,” Guy says.