Silicon Valley? Austrade’s shout…

The Australian Federal Government’s export and investment body Austrade has announced the winners of
its second annual Silicon Valley eBusiness Mission Competition.

Ten winners and two runners-up have been selected from a field of 175
Australian applicants to participate in a week-long, all expenses paid
visit to the global IT epicentre, Silicon Valley.

Winners selected from a shortlist of 30 included Bullant Technology,
Functional Software, Identity Software, InnovIT, OzTell, Sienna
Technologies, Retriever Communications, Sandstone Technologies, SecureGate,
HarvestRoad, Prescient Networks and FABS systems.

Judging panel chairperson and Austrade National Manager for Information
Communications Technology Industries Alison McGuigan-Lewis said the six
judges were looking for technology businesses that provided unique
solutions to solve a problem in a larger market.

“The ten entrepreneurs will effectively be ‘virtual ambassadors’ for
Australian technology in the Valley, marketing not only their own
businesses, but being representative of what is available in Australia,”
she said.

According to McGuigan-Lewis, judges looked for a good business framework
over ‘wow’ technology.

“The panel asked ‘is the right management team in place to implement
their international business plan? What is the business model and revenue
stream, and will it work in the US?’ ” said McGuigan-Lewis. “Companies may
be the first to market with unique technology, but what is their
sustainable competitive advantage to keep the ‘me-too’ followers at
bay?”

Bullant Technology chief executive officer Gary Aitchson said the win
would open doors for Bullant to gain international exposure in the IT
industry.

“This opportunity will provide Bullant with firsthand knowledge of US IT
industry dynamics, critical market success factors, investment and
marketing trends,” he said.

Austrade invited submissions in March, searching for ten innovative
Australian companies with “enabling technologies for e-business or Internet
enlivenment applications” to win the ‘immersive’ Silicon Valley
experience.

The aim of the competition is to provide the opportunity for ‘best of
breed’ technology companies in the Internet enablement space – software,
hardware or services – to gain a first hand feel for US IT industry
trends.

Austrade also recently recognised the achievements of five Australian
software companies in an inaugural ceremony sponsored by the agency see
story).

Three Sydney-based software developers, a Wollongong firm and
Adelaide-based company were recognized at these DesignWorld awards.