Minister Barr: Government supports small business growth in the Territory
- Written by ACT Government
Released 26/02/2019 - Joint media release
ACT Government support for industries of the future has paid off for local business Liquid Instruments.
The innovation sector is a growth opportunity for the ACT – creating more jobs for more Canberrans. For many years, the ACT Government has been providing a number of support mechanisms for local start-ups, including seed funding and subsidised office space.
This investment is supporting the growth of businesses like Liquid Instruments, which has now moved to a permanent location on Northbourne Avenue and employs 24 people.
The ACT Government assisted Liquid Instruments to grow from an ANU research project to a business that designs and manufactures measurement devices for all sorts of applications including cyber security and space.
Liquid Instruments have also benefitted from the Government’s international engagement activities, having been involved in an ACT Government delegation to Singapore in 2017.
Labor Governments create jobs – and with our record low unemployment and job growth, the Territory’s economy will continue to benefit from the support we provide to businesses like Liquid Instruments.
Quotes attributable to Chief Executive Officer of Liquid Instruments, Daniel Shaddock
“Canberra is a great place to start up a new enterprise. Liquid Instruments actually had 12 founders, all with links to the ANU and we have grown now to 24 employees across Australia and the US.”
“We’ve raised over $13M of funding so far, with around half from international investors and we’ve sold hundreds of Moku:Labs to customers in more than 20 countries. Our sales revenue has doubled every year for the last 3 years and in 2018 we surpassed $1M in sales revenue.”
“We are using our recent funding to accelerate our plans to develop new technologies and products and increase the company’s global reach into key export markets. We’re at the forefront of a new approach to test instrumentation, and we have some big ideas on where we’re going to take it next.”
- Statement ends -
Section: Andrew Barr, MLA | | Media Releases
