APEC Technomart III, billed as Australia's largest technology conference and expo, is believed to have folded overnight, midway through the week-long event.
Organised by the Asia Pacific Economic Cooperation, APEC Technomart III was expected to attract around 30,000 Australian and overseas delegates. It was scheduled to run from November 1-6 on the Gold Coast.
Aimed to provide a meeting ground for national and international innovators, APEC Technomart III comprises six events including the International Venture Capital Forum, International Symposium on Microelectronics and Micro Electro Mechanical Systems, the 1999 Australian Interactive Multimedia Industry Awards, The Women Chiefs of Enterprises International Conference and the Education Technology Exhibition and Workshop at Griffith University, according to the event's Web site.
According to Paula Brand, a spokesperson from the 1999 Australian Interactive Multimedia Industry Awards, most suppliers, including the registration system operators and transport services, have pulled out from the event as a result of the financial problems.
Bad marketing and mismanagement by the organisers was the cause of the problems, Brand said.
Despite the uncertainty of APEC Technomart III, some conferences, including the Interactive Multimedia Awards, are expected to go ahead, Brand said.
She is expecting around 450 people to attend the Interactive Multimedia Awards to be held tomorrow night at the Royal Pines Resort, Gold Coast.
A spokesperson from events coordinator Global Events and Marketing this morning said it was unknown whether the APEC Technomart III would continue through the week.
Officials from APEC Technomart III failed to return calls before deadline.