Entrepreneurship continues to thrive on the Sunshine Coast with tech company Yondo the latest local business to secure Federal funding to help commercialise its revolutionary Live Experience software.
Member for Fairfax Ted O’Brien said $749,997 had been committed under the Accelerating Commercialisation stream of the Federal Government’s Entrepreneurs’ Program.
“Yondo is set to receive nearly $750,000 from the Federal Government which will help it to expand its market in Australia and North America,” Mr O’Brien said.
“Importantly it also means more staff can be employed locally.”
Only 12 businesses Australia wide received Accelerating Commercialisation grants this funding round.
The grants help businesses to undertake development and commercialisation activities like product trials, licensing and manufacturing scale-up, which are all essential and often challenging steps in taking new products to market.
“Again the Sunshine Coast has shown itself to be one of the most innovative regions in Australia,” Mr O’Brien said. “Yondo’s Live Experience software is about helping businesses and educators deliver pre-recorded videos as though they are live which means any questions the user has can be answered then and there.”
Member for Fisher Andrew Wallace said the grants were designed to accelerate the development of high quality projects which had strong local and export market potential.
“The Liberal National Government is committed to encouraging Australian businesses with the initiative and ability to pursue ground-breaking ideas,” Mr Wallace said.
“This project demonstrates the sort of ingenuity that will help keep Australian businesses competitive, promote economic growth and create new jobs.
“It is exactly the kind of ingenuity that we have in spades on the Sunshine Coast and I’m sure that the success of Yondo will inspire even more businesses in our community to have a go and create something fantastic,” he said.
Co-Founder & Yondo CEO Tony Jarboe says the group describes its Live Experience software as allowing users to record and edit pitch-perfect online product demos, online classes and online property walk-throughs and present them as live events with real-time interaction.
“Yondo is excited about our future and the Accelerating Commercialisation grant will help take us to the next level,” Mr Jarboe said.
“We would like to thank the Federal Government, the Department of Industry, Science and Technology, MPs Ted O’Brien and Andrew Wallace and our Commercialisation Adviser Keith Steele.”