Venture capitalists get with the program

"We think the education sector is a laggard in taking up technology," Philip Wing, executive director of TVP, said. "The sector hasn't used technology and knowledge as heavily as other industries."

Wing said venture capital companies in the US had invested "a lot" in the education sector in the last six months. "It's a big latent market for investors in the US - we also feel the same here," he said.

For Melbourne-based Impaq Network Services, the $3 million investment from TVP represents its first professional funding. The three-year-old organisation was originally funded inhouse during its research and development stage and TVP only came on board six months ago, said Robert Smyth, Impaq's CEO.

Impaq plans to use the $3 million to expand nationwide, starting in Sydney and moving to Perth, Smyth said. Additionally, the company is considering a number of acquisitions, including hardware and software vendors and technology and service providers.

The organisation already supplies more than 25 per cent of private, independent and catholic schools in Melbourne and announced today that Sydney's Abbotsleigh School for Girls will also implement its solution.

Impaq develops, installs and supports virtual private networks enabling students, staff and parents to access the school's curriculum remotely. The solutions are based on thin client technology built around an intranet framework, according to Smyth. Priced at $19,990 for installation plus a $29.95 monthly fee for staff and students, Smyth said the solution is aimed at the private sector rather than public sector.

The company, with the assistance of TVP, is planning to launch a second funding round in the second half of the year. Wing said it is likely TVP will invest in Impaq again at that time, but other strategic investors will be encouraged.

The second round of funding is expected to be used to move into Asia, the US and Europe, Smyth said. India is expected to be the first Asian location and Impaq is undergoing negotiations with alliance partner Encyclopaedia Britannica to roll out a pilot program in the US and the UK.

TVP has invested in 12 other companies, covering the travel and hospitality sectors, SMEs, gaming and business-to-business commerce.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Luisa Bustos

PC World

Comments

Comments are now closed.

Latest News Articles

Most Popular Articles

Follow Us

GGG Evaluation Team

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell

LIFEBOOK UH574

The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi

STYLISTIC Q702

The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Simon Harriott

STYLISTIC Q702

My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.

Resources

Best Deals on GoodGearGuide

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?