Clontarf business shares in $10 million in Palaszczuk Government funding
A Clontarf business changing the face – and cutting the costs – of timing sports events has been awarded $241,000 under round three of the Palaszczuk Government’s Advance Queensland Ignite Ideas funding.
Minister for Innovation, Science and the Digital Economy Leeanne Enoch said today (Tuesday) Trident RFID is among 85 innovative Queensland applicants – independently assessed in a highly competitive process – sharing in the latest round of $10 million Advance Queensland Ignite Ideas funding.
“The Palaszczuk Government has so far supported more than 200 Queensland businesses through $26.5 million of Ignite Ideas funding over three rounds, driving more than 1000 new jobs,” Ms Enoch said.
“Ignite Ideas is part of the $420 million Advance Queensland initiative aiming to turn ideas into actions by investing in research and technologies, attracting new investment, building global partnerships and encouraging businesses to start and grow in Queensland.”
Member for Redcliffe Yvette D’Ath said today (Tuesday) Trident RFID – founded seven years ago - had developed OneTime, a light-weight, internet-enabled, single-use sports timing solution.
“The Palaszczuk Government is providing innovative businesses – including Trident RFID - with opportunities to break into new markets,” Ms D’Ath said.
“We are supporting these businesses to develop new and improved products and processes – helping to strengthen our existing industries and create new opportunities and jobs.
“Queensland innovators are the envy of other states because of the education and funding provided by the Palaszczuk Government through initiatives like Advance Queensland.”
Trident RFID CEO Philip Almond said OneTime is set to change the $US 1.1 billion mass-participation electronic sports timing market.
Mr Almond said the system can deliver substantial cost savings to timed sports events, and open up new opportunities and new markets. The system has already been trialled in overseas events, including the Guam International Marathon.
“We are sincerely grateful for the funding through Ignite Ideas. It will support the substantial challenges in moving from minimal viable product to full commercialisation,” he said.
“The Ignite funding will accelerate this process – bringing new high-tech revenues and creating more jobs for Queensland.”
For more information about the Ignite Ideas Fund, visit: http://advance.qld.gov.au/igniteideas