The Acer Group is set to expand Australia's venture capital horizons with the launch of Acer Capital's Technology Partner Fund last week.
The fund will spread $30 million over the industry during the next seven years in an attempt to bolster Australian IT&T startup companies.
"We will be able to support between 10-20 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 product and ideas, Acer Capital has defined certain criteria candidates must fulfil. "The number-one issue is that people are just as important as technology," stressed Lin. The screening process will also peruse a company's vision, management capabilities, its product or service, market demand and business model.
But wait, there's more . . .
Lin expects Acer will offer more than financial capital to successful organisations, including in the program an opportunity to "leverage Acer's experience and our 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 share. "The majority of products and ideas need to go global before they are recognised as successful," he said.