Michelle HammondFollow on twitter www.startupsmart.com.au
Controlabill pockets $609,000 from Commercialisation Australia
A start-up founded by former bank executives is among the latest round of companies to receive grants from Commercialisation Australia, pocketing $609,000 for its bill payments system.
Controlabill is an online direct debit authority management service that will enable billers, consumers and banks to establish and manage authorities using a PC device, smartphone, tablet device or widget.
Based in Balgowlah Heights in NSW, Controlabill was founded by former bank executives Stephen Coulter and Bernard Wright.
It was built on a web 2.0 platform, and is fully compliant with new federal regulations governing bank account portability.
Controlabill is the recipient of a $609,000 grant from Commercialisation Australia, which has released details on all the recipients in its latest round.
The funds will allow Controlabill to undertake customer trials and conduct initial go-to-market activities including pre-launch client trials, building of sales and support expertise, and hiring an experienced chief executive.
The latest funding from CA takes the total number of grant recipients to 360. These recipients have shared in more than $142 million since January 2010
According to CA chief executive Doron Ben-Meir, the program continues to go from strength to strength, but hasn’t shifted from its focus of helping innovators bring their ideas to market.
“We provide essential funding and crucial guidance that helps innovators navigate the path to successful commercialisation,” Ben-Meir said in a statement.
“Our dedicated case managers and extended network provide the timely advice and key insights participants need to enhance their prospects of commercial success.
“We help businesses move to a stage where they can attract commercial investment or simply generate revenue to achieve business viability.”
Here’s a few of the other new grant recipients:
1. iWebGate – $2 million
iWebGate has developed the world’s first commercially available “off the shelf” Ghost Network Platform.
In addition to delivering stealth security, this innovation enables software developers and network administrators to deliver cloud services from existing ICT infrastructure.
The CA grant will be used to finalise product development requirements, and allow design and implementation of sales, marketing and technical support strategies.
2. Madeleine Pharmaceuticals – $1,184,606
Madeleine Pharmaceuticals is developing the naturally-occurring vessel dilator peptide, VSDL, for treatment of heart failure.
Madeleine’s trials using a synthetic form of VSDL have demonstrated efficacy and safety in patients with acute decompensated heart failure (ADCHF) and chronic heart failure (CHF).
A previous CA grant enabled Madeleine’s partner, Hospira, to cost-effectively manufacture human recombinant VSDL, Vestiras.
The new funding will be used to develop a clinical package for licensing and partnering of Vestiras for treatment of ADCHF and CHF.
3. Immersaview – $970,838
Immersaview has developed VADAAR, an innovative software tool that can record, stream and review high definition video over existing computer networks to anywhere in the world.
The software has the ability to transparently capture what is happening on a user’s PC including video, audio and data.
The grant will be used to demonstrate VADAAR’s capabilities in the defence, aerospace, mining and medical markets to establish a global foothold and to implement strategies to protect the IP.