ItvWorld, a provider of cross platform technology and software services for the interactive television (iTV) market, has received the first tranche of a $1.35 million AusIndustry grant.
Awarded under the Federal Government's R&D Start Program, the grant allows ItvWorld to develop its Interactive Application Map System (I-AM), a multiplatform solution providing an enhanced content and service management system for content and service providers and broadcasters worldwide.
ItvWorld CEO, Jason Romney said the grant will help the broadband solution provider thrust Australian technology into the global, interactive TV marketplace. The company recently acquired movie content creator Urban Cinefile and has employed an additional 10 engineers and programmers in the last month.
The AusIndustry grant is staged funding to be used progressively over the development of the I-AM project. The funding is nonrepayable and tax free, which gives itv world an effective means of completing its research and development spending, officials said. Itvworld officials believe the grant is the first awarded for this type of project in Australia.
Itvworld has already completed successful proof-of- concept tests of the I-AM and is currently in the process of finalising several major partnerships to further assist with its development and marketing.
The work is expected to finish by May 2002, with the company - headquartered in Sydney - anticipating worldwide interest as the technology matures.