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National Drones completes capital raising

21 November 2018 in Strategy

Australian drone service provider National Drones has completed a capital raise to drive investment into its aerial data collection and…

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VIDEOS: Huawei ships over 10,000 5G base stations as 'commercial 5G era' begins

21 November 2018 in Telecoms & NBN

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TechnologyOne hails continuing growth, profits

20 November 2018 in Listed Tech

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Labor accuses govt of avoiding 'inconvenient metrics' in NBN Co results

20 November 2018 in Telecoms & NBN

The Australian Labor Party has, predictably, slammed the Federal Government for avoiding any mention of what it calls "inconvenient metrics"…

Breaking IT News

S&P sees aggressive 5G buildout in US, Asia-Pac in 2019

21 November 2018 in Business Telecommunications

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Optus cuts $12m CSR deal for voice, data and mobile services

21 November 2018 in Business Telecommunications

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Logitech releases digital pencil for 9.7-inch iPad

21 November 2018 in Hardware

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Huawei showcases '5G Home Broadband' capability in London at Global MBB Forum

21 November 2018 in Telecoms & NBN

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VIDEO Interview: MD of Financial Services at NCR, Craig Jennings, talks trends, impacts and more

20 November 2018 in Development

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Site24x7 adds Azure monitoring and Microsoft Teams integration

20 November 2018 in Cloud

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Skype voice and video calls with Alexa arriving in AU, NZ, US, UK, India and Canada

20 November 2018 in Home Tech

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ANSTO launches deep technology incubator, innovation hub

20 November 2018 in Science

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Dubber seals call recording deal with Vodafone NZ

20 November 2018 in Deals

Australian-listed call recording platform provider Dubber has secured a deal to provide its call recording and analytics suite to Vodafone…

Make A Wish foundation site hit by cryptojacking

20 November 2018 in Security

Malicious attackers inserted a script to mine cryptocurrency into the website of the Make A Wish foundation, the security firm…

Freelancer acquires channel 40 to move into freight business

20 November 2018 in Strategy

Global freelancing and crowdsourcing marketplace Freelancer.com has acquired enterprise freight marketplace Channel 40, in a move expected to pave the…

Labor says fixed-wireless service congestion cause for concern

20 November 2018 in Telecoms & NBN

The Australian Labor Party has expressed concern over the state of the fixed-wireless service offered by the NBN Co and…

Amazon disses Aussie DC fans over Aquaman preview

20 November 2018 in Core Dump

Amazon is trumpeting advance showings of the forthcoming Aquaman movie – but Australian Amazon Prime members will miss out.

D-Link fixes authentication flaw in DIR-850L routers

20 November 2018 in Security

Networking products manufacturer D-Link has released a patch to fix a flaw in its DIR-850L routers that allowed an attacker…

MFA failure hits Microsoft cloud services globally

20 November 2018 in Security

Microsoft cloud customers using multi-factor authentication have been locked out of their accounts since Monday morning US time, the company's…

Ernst & Young acquires digital consulting firm

20 November 2018 in Deals

Big four accounting company Ernst & Young has acquired the Adelphi Digital Consulting Group, an award-winning firm with branches in…

CSIRO develops smart tag to keep track of cattle

20 November 2018 in Enterprise Solutions

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House NBN panel asks govt to change regional broadband levy

20 November 2018 in Telecoms & NBN

The Australian Parliament's Joint Standing Committee into the NBN has recommended that the government update the modelling of its proposed…

3 international students at Melbourne University have placed second in the university's prestigious entrepreneurship competition, for their online technology software, TeamDraw.

The competition is sponsored by Australia's prestigious Melbourne Business School and KPMG and has been running for over 8 years. Over 60 000 Australian dollars was handed out in prize money.

26 year old Chandika Jayasundara from Sri Lanka, 27 year old Nick Foster from the UK, and 34 year old Charanjit Singh Dhaliwal from Singapore designed and built the software that they say will revolutionise the way businesses model complex products and processes.

The software helps to design a wide range of products - from computer networks to architectural plans. The three partners formed a company, Cinergix, earlier this year. The company currently has a team of engineers developing the product, which is in the process of being patented in Australia.

Their product will operate in the modelling software market that will be worth 5 billion US dollars by 2011. As a Software as a Service application provider (SaaS) Cinergix will be part of a software delivery trend that will deliver 11 billion dollars worth of software by 2011, a market which is growing at 96% annually according to Gartner, a leading technology research firm.

"Being recognised with an award like this is a real honour", says Chandika Jayasundara, the company's chief executive officer. Jayasundara originally conceptualised the idea, and has been the driving force behind the success of Cinergix.

"As an international student in Australia, learning and operating in the business environment here has been a fantastic experience. Australia's transparent business environment, positive investment climate and highly efficient infrastructure were all huge factors when we made the decision to base our business here."

The company's chief operating officer, British national Nick Foster hails from Basingstoke in the UK. He's worked in the IT industry in both the UK and Australia during the past 8 years. The challenge of getting involved in a start-up was what prompted him to join Cinergix in November 2007.

"The team is young, dynamic, and raring to go," he says. "In my previous roles, I have worked with large numbers of people and have created many software solutions – all focused on networking and the Internet. But what we have here is truly revolutionary – a disruptive technology - and could change the way companies design and create visual models forever."

Chief marketing officer, Charanjit Singh Dhaliwal from Singapore was very clear when asked why he decided to start a technology business - it's a personal passion: "Technology is all about solving problems - and we have identified a crucial problem in the market place.  Let me give you an example - you can write documents in Word - but if you didn't have the spell check function, you would have to manually check every single word to ensure it was spelt correctly. That's what we're doing - but in the design space. It's truly a great leap forward in the design technology space."

Previous winners in this competition have raised over 2 million Australian dollars from venture funds at the onset. Attracting venture capitalists and angel investors to invest funds into their project was one of the reasons that the Cinergix team entered the competition.

"Melbourne Business School and KPMG's entrepreneurship competition is viewed very positively by Australian venture capitalists," the team's CEO Jayasundara adds. "For a group of international students from all parts of the world, it's a real coup to place in this competition - so it really feels like a huge victory for us. We're in the process of meeting with interested parties, and I am feeling very positive about the future."

Cinergix has set up a research & development centre for the software in Colombo, Sri Lanka, where one of the three founders is from. While Australia will remain Cinergix's officially registered headquarters, the company is looking to expand  in South Asia and the Asia Pacific regions, as well as the United States next year.

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