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Determined entrepreneurs ready to jump start their ideas for new technology-based ventures have just two days left to apply for a Germinate Grant from technology accelerator and business incubator, ilab.

Initiated and funded by the Queensland Government, ilab supports entrepreneurs and early stage, high-tech companies through the first few years of development.

ilab Program Director, Leigh Angus, said the new Germinate program offers a unique package of services designed to help start-up founders boost their business acumen and extend their industry networks.

“Successful applicants will receive individual training, mentoring and support from experienced entrepreneurs, as well as up to $20,000 to build the first product and start the business,” Ms Angus said.

“These project grants will help new incubatees access qualified software developers and business consultants, while free IT services, office space and resources will help keep their operating costs down.

“They’ll also benefit from ‘how to’ boot camps, guest lectures and coaching for investor pitching,” she said.

Sponsors, including Ninefold and Ernst & Young, will contribute services to the program, while a growing list of volunteer mentors and business coaches from Australia, the US and the UK will share their expertise in venture capital funds management, start-up development and directorships, technology commercialisation, and entrepreneurship.

Applications are invited from candidates in Queensland, other Australian states and overseas who can spend three months elaborating and validating their technology business ideas at the ilab incubator in Indooroopilly, Brisbane.

Starting on Monday 25 June, the Germinate program will welcome the first tenants to ilab’s new premises, since it was opened by The Hon Ros Bates MP, Minister for Science, Information Technology, Innovation and the Arts on  April 30 this year.

“The Germinate program has already attracted over 180 expressions of interest and 60 applications,” said Ms Angus.

“If this round is oversubscribed on Friday, we will consider running a parallel program to accommodate the demand for ilab’s specialist new venture support.”

To apply for an ilab Germinate grant or obtain more information, visit www.ilab.com.au.