Feds kick in $350k for the XBerts
IN AN illustration of how operating from a regional centre is no barrier to success, an innovative Coffs Harbour tech-firm has been the target of federal funding.
XBert has been awarded $350,000 to commercialise its accounting software app designed to help businesses, bookkeepers and accountants keep a closer eye over their finances.
Coming from a $5 million federal fund to commercialise innovative goods and services, the money will help XBert market its flagship app of the same name.
Cowper MP Pat Conaghan said the grant highlighted the innovation happening here on the Coffs Coast and was an example of a “bold thinking business excelling in its field.”
“By investing in themselves and taking the time to write a grant application to our Government, XBert now wants to hire a small number of additional staff, which is great for Coffs jobseekers.”
The company have recently been advertising for jobs, and are one of a growing number of businesses operating out of regional cities rather than metropolitan centres.
XBert co-founding director Aaron Wittman said the grant would enable his company to strengthen the app in a variety of ways including broadening its data integration and audit capabilities.
Put simply, the app analyses data to find patterns, risks and errors and helps users keep their books up to date.
“Our trial audit and risk detection software is innovative in that it provides up-to-date visibility over a business’ financial status, automates time-consuming manual process checks, reduces errors and provides hourly business alerts to financial risks that cost money and cause a business to decline,” Mr Wittman said.
“The software has been three years in the making and I want to further develop it for the
agribusinesses sector by enabling the input of data from crop yields, weather effects and other
“Research and exploration is also underway to expand our risk alerts into more diverse industries such as health and medicine, retail and mining.
“I thank the Federal Government for this grant as it will allow my business to bring on new staff and create opportunities for local software developers and creatives and position XBert as a fintech to watch.”
Minister for Industry, Science and Technology Karen Andrews said the Accelerating
Commercialisation program will hasten the development of high-quality projects which have strong local and export market potential.
“The Morrison Government is committed to backing clever projects like these that deliver economic opportunities while solving real-world problems,” Ms Andrews said.
Since the launch of the Accelerating Commercialisation grants in 2014, 489 grants worth more than $235 million have been offered to Australian businesses to commercialise their products.