Feds Fund Incubator in WA

The federal government has opened its first IT incubator in Western Australia. Entrepreneurs in Residence (EiR), funded by the government's BITS (Building for Information Technology Strengths) program, will provide seed capital, management expertise, accommodation and mentoring to start-up companies in the Bentley Technology Precinct and East Perth. Kevin Campbell, chairman of EiR, said up to $450,000 can be invested in each startup to implement an agreed program. To be eligible for incubation through EiR, early-stage companies should have employed fewer than 10 people, have a turnover of less than $1 million in the last financial year, and inspect the entry requirements. Interested entrepreneurs can visit EiR's Web site, www.entres.com.au for information on self assessment, the confidentiality policy and an online application form.

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