The forums, sponsored by Australian Distributed Incubator and Digital Harbour, showcased seed and expansion stage companies which offer products in the fields of multimedia point-of-sale advertising; digital tourism publishing; networks for voice, applications and data; web-enabled electronic books; architectural glass products; and niche-market mobile phones for hazardous industries.

BSI believes all the companies offer leading-edge intellectual property assets. Alan Milwidsky, a director of BSI, said the attendees were all high net worth individuals from BSI’s database of 300 potential investors. He said these investors usually invest in an area they either have experience or skills in or otherwise understand.

BSI also helps companies with government grants, advisory services and co-ordinates meetings and provides further information on the companies seeking capital. BSI has run forums since last November and aims to continue running four each year. The next forum is planned for February 2004.

At the October forums, CrossML presented its networks for voice, data and applications as having identified markets and an exit strategy within four years. The technology is already proven with eight client companies. CrossML aims to raise $1.25 million for a 30 per cent interest, with the bulk of funds going to research and development, and sales and marketing.

Also at the forum, Devlin Consulting Australia (DCA) said its safe, low-voltage pagers and mobile phones for petrochemical, chemical, transport and other hazardous goods industries have a backlog of $700,000 worth of sales orders. The company Is gearing itself for growing demand in Australia, the Middle East and SE Asia. DCA plans to raise $1 million for a 30 per cent interest.

Another company, eInfo Solutions in joint venture with Q-Net Technologies, aims to fill a gap between laptop and PDA products with its featurerich, economical electronic briefcase or schoolbag. The joint venturers aim to raise $1 million for a 20 per cent share of the business - to fund payroll, inventory and working capital. It projects an indicative five-year IRR of 134 per cent before capital gain, and exit via possible NASDAQ listing with Q-Net within five years.

Marvel Glass told the forum its recycled glass product meant low input costs created a competitively priced, high-margin material that competes upmarket with marble and granite in commercial and residential buildings (kitchens) and in the furniture industry. Marvel Glass aims to raise $1 million for a 40 per cent interest in the company and will use the funds to purchase capital equipment for a commercial pilot plant, and for marketing and sales. Marvel Glass sees a potential $23 million per annum turnover for its product in kitchens and architectural glass alone.

In its briefing, PlanBook Travel explained it integrates three facets of travel - publishing, technology and bookings. PlanBook’s technology collects, stores, and manipulates travel content into multiple formats for digital and hard copy. PlanBook Travel is raising $300,000 for a 25 per cent interest, to invest in sales and marketing, publishing and expansion of its database.

PoSeTV is looking to raise $500,000 for product development of its ‘narrowcasting’ point-of-sale technology platform which delivers interactive digital advertising and measures its effects on consumer buying. The funds, which would buy a 15 per cent interest, would also establish a sales channel. PoSeTV has already won a five-year, $4 million tender with Woolworths.

Semiconductor Technologies Australia (STA), which has completed a $6 million research and development phase, told the forum of its re-programable semiconductor smart chip for automatic meter reading, home automation (security, lights, airconditioning, blinds etc) and industrial monitoring and control. STA plans to raise $2.5 million for further product development and sales and marketing in return for 10 per cent of shares in the company, which values itself, post-raising, at $27.5 million.

Further information phone Alan Milwidsky on 02 9212 5505 or email amilwidsky@bsi.com.au

Page 4 Australian Venture Capital Journal November 2003