The Acer Group has expanded its, and potentially a number of other IT companies, horizons with the launch yesterday of Acer Capital's Technology Partner Fund.
The fund will spread $30 million around over seven years in an attempt to bolster Australian IT&T start-up companies. "We will be able to support between 10 and 20 companies in the industry," said Patrick Lin, a director of Acer Capital Australia and managing director of Acer Computer Australia.
The fund will not limit its focus to any one area of development, instead throwing what Lin describes as its considerable support behind companies offering hardware and software products, ranging through to e-commerce applications and complete solutions.
Although covering a broad spectrum of products and ideas, Acer Capital has defined certain criteria candidates must fulfil. "The number-one issue is that people are just as important as technology," stresses Lin. The screening process will also peruse a company's vision, management capabilities, its product or service, market demand and business model.
Lin expects Acer will offer more than financial capital to successful organisations, including in the program an opportunity to "leverage Acer's experience and its infrastructure".
Lin views Acer's worldwide presence as fundamental to the success of Australian companies who need to move into the international arena in order to capture market success. "The majority of products and ideas need to go global before they are recognised as successful."