Sep 17, 2017
Tim Lucas, co-founder and CTO of IMR talks with Advance Queensland:
Brisbane was the ideal place for our start-up, due to the state government’s recognition of how important technological innovation is for future economic prosperity. Many countries have been focused on things like resources, but even now almost all industries like this are heavily influenced by advancements in technology and automation. That is the future and where the smart money is.
A government that backs what you are doing and offers support, particularly in the early stages is extremely important for start-ups. Applying for the Advance Queensland Ignite Ideas grant gave IMR a fund-boost early on at a critical juncture and allowed us as founders to build value in the company and give away less equity at a time when the valuation was lower.
This got us to a point where we had more commercial interest and greater investment potential, in turn allowing IMR to grow quicker and hire more employees. IMR is now the largest employer in Queensland’s VR industry and a recognised global thought leader.