Liquid State approved for government grant
Announcement posted by Liquid State 12 Aug 2013
Brisbane digital publishing startup, Liquid State has raised $785,000, with a large portion of the funds coming from a government grant through the Commercialisation Australia (CA) initiative.
The Liquid State software platform is cloud-based and is a simple, fast and economical way to produce and publish content to desktop and mobile devices.
The CA grant is the first money raised by the company since returning to Brisbane from Berlin where they participated in the Startupbootcamp Berlin accelerator program.
Liquid State co-founder and CEO, Philip Andrews said the money will predominately be put towards rapidly scaling the business.
“It will help us expedite our business and project us into the global market, making us a force to be reckoned with,” he said.
The other half of the funds come from a syndicate of Australian angel investors led by Jim Kalokerinos of Brisbane Angels.
Other Liquid State investors include several prominent Brisbane company directors.
Liquid State securing the CA grant is another example of Australia supporting its burgeoning local tech startup scene.
Commercialisation Australia is a federal government initiative offering funding and resources for Australian companies, entrepreneurs, researchers and inventors.
Brisbane startups receive generous and much appreciated support from local businesses, enterprises and government through the new Digital Brisbane Strategy.
Digital Brisbane is a Brisbane Marketing initiative aimed at promoting the Brisbane digital economy by providing assistance, financial support, and connectivity to local digital startups.
Mr. Andrews said initiatives like CA and Digital Brisbane are helping to put Australia on the map when it comes to the global startup community.
“It’s fantastic to see Australia really going out of its way to support startups. It was a pleasant surprise to see how much the scene has grown since we left for Berlin just last year,” he said.
According to a PwC report from April 2013, tech startups have the potential to produce four per cent of Australia’s GDP by 2033.
The report, which was commissioned by Google Australia estimates that in 10 years, tech startups could contribute AUD$109 billion and 540,000 jobs to the Australian economy.
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