The Mercury
Sat 20 Feb 2010
The state government is set to lose more than $2 million it invested in a Hobart company via the Tasmanian Industry Support Scheme.
The liquidator of Etech Tasmania Pty Ltd, Brent Morgan, of Melbourne firm Rodgers, Reidy, said he had been appointed yesterday.
The insolvent company has no assets.
Treasurer Michael Aird said the government had yet to be formally informed the company was in liquidation.
“When the details of the appointed receiver manager have been formally disclosed, the government will be in a position to act decisively and negotiate an appropriate course of action with those involved,” he said.
“The total amount owing on the current loan facility, including interest, is around $2.1 million.”
“The Department of Economic Development’s Skills Response Unit (sic) is still working with the affected employees to provide as much support as possible.”
Employees of Etech were informed yesterday that their jobs had been terminated.
One employee said she was concerned about her superannuation, saying that it had not been paid for more than a year.
Employees have concerns about other entitlements that may not be covered by the General Employee Entitlements and Redundancy Scheme.
Mr Morgan (the liquidator) said he would examine the sale of Etech’s intellectual property, chiefly educational software, to director Geoffrey Elwood’s new company Studywiz.
“I will look at that to see if it is a commercial transaction and whether creditors have been disadvantaged by the transaction,” he said. “If it’s not commercial, or they have been disadvantaged, there is a right to action.'”
The state government granted Etech $1.8 million under the Intelligent Island program in January 2008 and lent $2 million last February.
Picture: Happier times: Premier David Bartlett with an Etech executive.
Background, glowing testimonials:
Airdy punts another couple of million*
www.media.tas.gov.au/print.php?id=25709
Media Release
Senator the Hon Kim Carr:
HERE
25 Jan 2008
$6.1 MILLION INTELLIGENT ISLAND FUNDING ANNOUNCED
Seven organisations from across Tasmania will share in more than $6.1 million in funding from the Market Access and Partnership Program (MAPP) component of the $40 million Intelligent Island program.
Senator Kim Carr, Federal Minister for Innovation, Industry, Science and Research and Tasmanian Premier and Minister for Economic Development Paul Lennon today announced the results of the program’s third funding round.
MAPP is a competitive, merit-based grant program that will support Tasmanian ICT companies to develop and commercialise products and services for a global market.
Senator Carr said third round funding brought the total amount grants allocated under MAPP to over $12.6 million.
“The seven innovative projects funded under this round will assist in creating a globally competitive Tasmanian ICT sector,” Senator Carr said.
“The projects will also further the Rudd Labor Government’s goal of fostering a strong and vibrant culture of innovation to help sustain Australia’s future prosperity.”
Mr Lennon said the successful projects were indicative of the diverse expertise Tasmanian businesses are developing in ICT.
“The successful Commercial Grants cover software development, commercialisation and market expansion across the tourism, defence, aquaculture, finance, e-learning and broadband entertainment industries,” the Premier said.
“In addition, a MAPP Special Grant was offered to TasIT, The Tasmanian Information Technology and Telecommunications Industry Association, to undertake an industry capability assessment for Tasmania.
“Successful projects were assessed by an independent industry-based panel with some of the projects specifically chosen for the benefits they will deliver to the ICT sector as a whole.
“The program has been well-received by the Tasmanian ICT industry and is providing important support to allow the development of projects across a range of industries.”
The $40 million Intelligent Island Program is funded by the Australian Government and administered by the Tasmanian Department of Economic Development.
Expressions of Interest for the fourth and final round of MAPP will open on 4 February 2008. For more information about the program, contact the Tasmanian Department of Economic Development’s Business Point on 1800 440 026.
Successful Applicants – MAPP Funding Round Three
The following organisations have been offered funding under Round Three of MAPP subject to the successful negotiation and signing of grant deeds:
Organisation
Project
Point Duty Pty Ltd
$1 100 000
Product development and commercialisation of Phase II of the Point Duty Intelligence Services system.
ICS Multimedia Pty Ltd
$722 500
Product development, market expansion and commercialisation of Tracker –an integrated tourism and parks management tool.
Pan Logica Pty Ltd
$550 000
Commercialisation and market development of Neptune – an aquaculture planning solution, to domestic and international markets.
Future Medium Pty Ltd
$491 633
Product development and commercialisation of INVESTRAK – a web reporting infrastructure, to national and global markets.
Etech Tasmania Pty Ltd
$1 800 000
Product development and commercialisation of the Mobile Learning Interface and Content (MLIC) education software.
Blue Rocket Pty Ltd
$1 203 695
Product and market development, and commercialisation of toonpets.tv, a children’s broadband entertainment channel.
TasIT
$250 000
Undertake a comprehensive assessment of the capability of the Tasmanian ICT industry.
Brand Tasmania newsletter, July 2008
HERE
Tasmania’s Etech Group has won two top prizes at the Australian Information Industry Association Awards, positioning it among the nation’s outstanding ICT businesses. Following its national success, Etech will represent Australia at the Asia Pacific ICT Awards in Indonesia in November. Etech’s innovative eLearning product – Studywiz – earned it the Best of the Best Inspiration Award for most successful ICT company in the nation, as well as the Education and Training iAward for the delivery of innovative education ICT solutions.
Etech has 15 years experience developing educational software for schools, universities and the corporate sector. As well as a head office in Hobart, the company has offices in Melbourne, China, the United States, Britain and Russia. Studywiz is being used in 22 countries and more than 1.2 million students are licensed to use it. It is one of the top three learning programs in the British education system and the American State of Maine has implemented Studywiz as a state-wide solution to support the world’s largest one-to-one educational laptop program.
Since its beginnings in 1993, Etech has progressed from educational multimedia into the eLearning industry, working with educational and corporate clients. Etech specialises in developing online learning technology for education and life-long learning. CEO, Geoff Elwood, said Studywiz and Etech’s learning delivery system, Fourpoint Learning, were both created through collaboration with clients. He said: “This practical approach to achieving outcomes has found friends and won clients all over the world. The Etech Group is proud that its rapid growth has been facilitated through a client-by-client approach to delivering flexible learning outcomes. Etech Group sees itself as a technology enabler for education, providing innovative, pedagogically sound applications and services. Our technology has been designed to assist clients to create outcomes-focused learning environments, track and improve their performances over time, and to empower them to be the best, with dynamic, world-leading products.”
The Premier, David Bartlett, hosted a reception in Hobart to celebrate Etech’s achievement. He told attendees: “I am particularly proud that Tasmania is leading the way with an educational product. Improving education outcomes is crucial to the success of any economy and one of my major priorities as Premier … the future I see for Tasmania is a clever one where we lead the world in innovation. Etech is a perfect example of this aspiration.”
Michael Aird, MLC
Minister for Economic Development
Friday, 9 January 2009
First Tasmanian Industry Support Scheme Recipient
The Minister for Economic Development, Michael Aird, today announced that Tasmanian-based global ICT company Etech was the first recipient under the new Tasmanian Industry Support Scheme.
Mr Aird said the Government would provide Etech with a $2 million loan.
“Etech had been looking for partners to support their continued expansion in the European, United States and Asia Pacific markets,” Mr Aird said.
“The company had reached the final stage negotiations with a potential investor when the investor chose to take on other opportunities at prices that are highly discounted due to current economic circumstances.
“This is precisely the type of situation for which the Government established the Industry Support Scheme and we are really pleased to contribute to Etech Group’s continuing global growth plans.
“Etech established its Global Support and Development Centre in Hobart in 2004 and is now a world provider of the internationally renowned Studywiz learning platform used by over one million student users worldwide.
“This company has built a sustainable competitive advantage on a global scale.
“The exclusive worldwide agreement with Apple Corporation positioned Etech as a credible, global supplier of eLearning software, while the ongoing contract to supply every government middle school in the State of Maine in the United States with Studywiz demonstrates that Etech is capable of product delivery on very large scale.
“Etech has previously been recognised through a number of awards including the Australian Industry Information Award’s Best of the Best Inspiration Award for the most successful ICT company in the nation, and the Education and Training iAward for the delivery of innovative education ICT solutions.
“The international Handheld Learning Awards in London, officially recognised Etech as the global leader in mobile, hand-held learning and the company also won the US Technology and Learning 2008 Award of Excellence.”
Mr Aird said the global eLearning market is currently valued at US $2 trillion with projected annual growth of 15 per cent.
“The value of the market is expected to eclipse the value of the classroom training market within the next two years so it is essential that Etech’s products are developed to remain world leaders and benefit from this growth,” he said.
Mr Aird said there had been many inquiries from businesses since the Tasmanian Industry Support Scheme began in November and the Department of Economic Development continues to work with these businesses.
“As the Premier said when the scheme was announced it is aimed at helping Tasmanians businesses who are facing difficulties through no fault of their own because of the global credit crunch,” he said.
“It is about helping businesses to keep Tasmanians in jobs.
“Economic growth over the past 10 years has led to 47 000 new jobs in Tasmania and we want to protect those jobs as much as we possibly can given the current global financial uncertainty.”
Further information: Tasmanian Government Communications Unit
And,
http://www.media.tas.gov.au/print.php?id=23900
David Bartlett, MP
Premier
Thursday, 5 June 2008
Tasmanian Company leads the Nation
At a special ceremony in Hobart today, Premier David Bartlett personally congratulated Etech Group on being recognised as the most successful ICT company in Australia, thanks to an innovative eLearning product called Studywiz.
The Tasmanian company recently won two prestigious awards at the Australian Information Industry Association Awards.
“The future I see for Tasmania is a clever one where we lead the world in innovation, Etech is a perfect example of this,” Mr Bartlett said.
At the AIIA awards, Etech picked up the top prize “Best of the Best” Inspiration Award for most successful ICT company in the nation, and the Education and Training iAward for the delivery of innovative education ICT solutions.
“I am particularly proud that Tasmania is leading the way with an educational product.
“Improving education outcomes is crucial to the success of any economy and one of my major priorities as Premier,” Mr Bartlett said.
Etech has 15 years experience developing educational software for schools, universities and the corporate sector. The company’s head office is in Hobart, with offices also established in Melbourne, China, the United States, UK and Russia.
“Etech has demonstrated how a successful company can reach from Tasmania to the world.
“The May 2008 Sensis Business Index shows business confidence in Tasmania continues to be above the national average, we were also the only state or territory, with the exception of NSW’s to record an increase in exports last quarter.
“A strong economy, business confidence and a growing reputation for innovation make Tasmania the ideal base from which to do business with the world.
“In Etech’s case, Studywiz is being used in more than 22 countries.
“It is one of the top three learning programs in the UK, while in the US, the State of Maine has implemented Studywiz as a state-wide solution to support the worlds largest one to one laptop program.”
Mr Bartlett got an opportunity to experience Studywiz first hand. Rosetta High School students tested the Premier’s knowledge, his efforts rewarded with a special certificate.
Etech will now represent Australia at the prestigious Asia Pacific ICT Awards in Indonesia.
Further information: Tasmanian Government Communications Unit
