“Quicklook” Assessment of Greater Adelaide's Assets & Challenges ...

embark on a business enterprise. The program consists of a number of schemes but
the cornerstone has been Business Initiates from Graduates (BIG).
Under BIG, four Adelaide University scholarships are offered each year to successful
applicants to undertake development of a business enterprise at the Thebarton Precinct
within the incubator facility. Participants are not expected to have any prior business
experience and can come from any discipline. Persons completing their final year of
university study were targeted as the primary source of applicants.
In a concentrated 12-month period, applicants enroll in a Graduate Diploma in Business
Enterprise, which provides training in small business management, finance, marketing,
entrepreneurship and innovation. They are provided with free office accommodation,
photocopying, fax, computing, and some service support together with access to interest
free loan funds from the University's commercial development company.
At the end of the 12-month period, participants are offered subsidized accommodation at
the Thebarton Research Precinct together with some continued mentoring and limited
other assistance.
Participants in the program have been split between those undertaking product
development and those entering skilled consultancy areas.
An example of a participant in the BIG program is Dean Martinello. Dean was an
Engineering student from Adelaide University who applied to the program in 1996. His
application was based on the development of a consultancy in the area of Factory
Layout Simulation, Process Modeling, and Robot Workcell Design. Utilizing 3D graphical
simulation, a manufacturer is able to explore the effects of any proposed changes to
their operations prior to making a major capital investment.
Dean’s company, 4DM, is currently in its fifth year of business and is an independent
tenant at the Thebarton Precinct. Having completed a wide range of projects for an
expanding client base, 4DM is recognized as one of the most experienced consultancies
in its field in Adelaide.
The Premier's Enterprise Scholarship is a new part of the BIG program and has been
developed to reward and encourage innovation and entrepreneurship in SA in the field of
Information Technology and Communications (IT&T). This prestigious scholarship is
valued at AUD $45,000. A successful applicant receives, in addition to the BIG program
support, funding to spend six months in Austin at the IC2 Institute of the University of
Texas. At the Institute, has access to technology expertise, is provided introductions to
international contacts, and receives training in developing and operating a business
venture.
Stephen Watt was awarded the Premier’s Enterprise Scholarship for 2000 to develop
entrepreneurial skills in new media venture creation. He was the first participant in this
scholarship program. During a 12-month residency in IC2 Institute’s Austin Technology
Incubator, Steve consulted to Alchemy Studios, winning and managing a major
multimedia contract delivering web-based marketing and community building solutions
for the Summer Camping industry in the United States.
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