|
MEDIA RELEASE - 23 May, 2001 itv|world's Revolutionary Technology Awarded AusIndustry Grant for $1.35million
SYDNEY--May 23, 2001-- itv|world, Australia's leading provider of cross platform technology and software services for the interactive television (iTV) market, today announced that it has received the first tranche of a $A1.35 million AusIndustry grant. The grant, awarded under the Commonwealth's R&D START program, allows itv|world to develop its Interactive Application Map System (I-AM), a multi-platform solution providing an enhanced content and service management system for content and service providers and broadcasters worldwide. Forecasters predict the product's target market will grow at a rate of 83 percent annually for the next four years.¹ The grant is believed to be the first awarded for this type of project in Australia.
"AusIndustry's grant approval was a major vote of confidence in itvworld's technology," said Jason Romney, CEO of itv|world. "The grant will help itv|world thrust Australian technology into the global iTV marketplace. Interactive TV lacks the computer world's established technology standards - and there is a strong opportunity for products which can meet the platform needs of developers, content programmers and advertisers," he said.
itv|world is an Australian iTV pioneer. As a broadband solution provider it has engineered interactive video for leading network operators, infrastructure suppliers and content providers. It recently acquired movie content creator Urban Cinefile and has employed an additional ten engineers and programmers in the last month.
The AusIndustry grant is a staged funding designed to be drawn down progressively over the development of the I-AM project. The funding is non-repayable and tax-free which provides itv|world with a highly effective means of complementing its research and development spending. The work is expected to finish by May 2002. itv|world has already completed successful proof-of-concept tests of the I-AM and is currently in the process of finalising several major partnerships to further assist with its development and marketing. "We are extremely pleased with interest in the I-AM technology and anticipate worldwide interest as the technology matures later this year," says Romney.
About itv|world
itv|world is a technology company providing software solutions across all televisual media platforms including Internet/broadband and digital television. Assembling the best of media and engineering, it combines the production values of television with fit-for-purpose software tools for interactivity. It provides technical and creative services and proprietary products for enhanced media, interactive TV advertising and personalised programming applications. itv|world's innovative and flexible cross-platform approach creates infrastructure, content and tools for broadband network operators, content providers and advertisers looking to gain a competitive edge in the emerging interactive and digital television market. Regarded as an industry leader, itv|world remains platform independent, allowing optimal delivery of customised iTV solutions to its customer base of broadcasters, network operators and media companies throughout the Asia-Pacific region. itv|world has built relationships with key players in Internet, television and digital technology, including Microsoft, OpenTV and Telstra. Its recent acquisition of Urban Cinefile allows it to further extend its offering of Web-based, platform independent solutions for development, management and distribution of enhanced and interactive television content with Australia's premier broadband online TV and movie guides. Headquartered in Sydney, itv|world is a privately held company that has been in operation since 1999. Additional information can be found at: www.itvworld.com
About AusIndustry
AusIndustry is the Australian Government's principal agency for delivering information, programs and services which support industry, research and innovation. An agency of the Commonwealth Department of Industry, Science and Resources (ISR), AusIndustry serves the needs of Australian businesses in the manufacturing, resources and services sectors seeking to enhance innovative activities and improve competitiveness. AusIndustry does this by providing a range of commercial incentives and information services for Australian businesses. For more information visit the AusIndustry website at http://www.ausindustry.gov.au/.
For further information contact: Charlotte Faunce, itv|world
charlotte@itvworld.com
Phone: (02) 9288 4704
Mobile: 0407 009217
| 