NICTA’s ‘Incoming’ mobile video start-up company switches on with $1.1M in seed financing
NICTA today announced the spin-out of its mobile video start-up company, Incoming. With premises in the Australian Technology Park in Sydney, Incoming has secured seed financing of $1.1M from Australian venture capital group OneVentures, US-based Citrix Startup Accelerator and NICTA. Incoming is NICTA’s eleventh spin-out company. OneVentures led the round.
Incoming produces Incoming TV (http://watch.incoming.tv/), a content delivery network and recommendation engine for mobile platforms which delivers high definition video to mobile devices according to the user’s viewing preferences. It pre-loads content using available Wi-Fi networks - no streaming, no buffering, and low cost. Incoming TV is available as a mobile application. Already, 600,000 users have downloaded the beta version and three million videos have been played.
“Incoming allows mobile networks to be used more efficiently in off peak periods and enhances the user’s experience by avoiding buffering and other interruptions common to streamed content,” said David McKeague, CEO of Incoming. “The mobile industry estimates that over 20 per cent of subscribers watch mobile videos on any given day, accounting for over 50 per cent of global mobile data traffic on wireless networks. 1 This is costly for users, carriers and content providers. The Incoming TV service addresses this by pre-loading content using Wi-Fi networks.”
“OneVentures believes Incoming will have significant opportunity to capture and support video mobile delivery into global markets, effectively unlocking 30 to 40 per cent of untapped mobile network capacity, which is likely to be worth up to $20 billion by 2016,” said Dr Michelle Deaker, Managing Partner of OneVentures and NICTA Board Member. “OneVentures is proud to be associated with this ground-breaking Australian technology being developed at NICTA.”
"We are excited that Incoming has joined the Citrix Startup Accelerator program. Incoming’s technology is compelling and complementary to Citrix offerings. Citrix Startup Accelerator invests in only the best entrepreneurs and new businesses creating new solutions for today's problems in cloud infrastructure and mobile. We look forward to working with Incoming as they build a world class business," said Citrix Startup Accelerator CTO Michael Harries.
“NICTA is committed to connecting world class research excellence in ICT to wealth creation outcomes for Australia,” said Hugh Durrant-Whyte, NICTA’s CEO. “The important research we undertake in the Networks field is supported by outstanding people, and Incoming, NICTA’s latest start-up, and its Incoming TV development, is an impressive example of NICTA’s research and entrepreneurial capabilities.”
Incoming TV has been developed specifically for mobile phones and tablets. Its predictive support for the service draws from information on the user’s device, including contextual data such as time of day, location, usage patterns and interests, and social and physical behaviour. It then applies NICTA’s machine learning techniques to pre-fetch a suitable selection of video material.
Incoming’s leadership team includes Mr David McKeague (CEO) and NICTA Research Leader Dr Max Ott, who joins Incoming as its inaugural Chief Technology Officer.
Footnote 1 – reference Bytemobile Mobile Analytics Feb 2013
NICTA (National ICT Australia Ltd) (http://www.nicta.com.au/) is Australia’s Information and Communications Technology Research Centre of Excellence. NICTA develops technologies that generate economic, social and environmental benefits for Australia. NICTA collaborates with industry on joint projects, creates new companies, and provides new talent to the ICT sector through a NICTA-enhanced PhD program. With five laboratories around Australia and over 700 people, NICTA is the largest organisation in Australia dedicated to ICT research.
NICTA is funded by the Australian Government through the Department of Broadband, Communications and the Digital Economy and the Australian Research Council through the ICT Centre of Excellence Program. NICTA is also funded and supported by the Australian Capital Territory, the New South Wales, Queensland and Victorian Governments, the Australian National University, the University of New South Wales, the University of Melbourne, the University of Queensland, the University of Sydney, Griffith University, Queensland University of Technology and Monash University.
Incoming (http://watch.incoming.tv/) is the leader in mobile content delivery for mobile platforms which delivers high definition video to mobile devices according to the user’s viewing preferences. It pre-loads content using available Wi-Fi networks - no streaming, no buffering, and low cost.
OneVentures (www.one-ventures.com)is a venture capital firm that invests in emerging Australian companies with differentiated products in the information technology, life sciences and clean technology sectors. The OneVentures Innovation Fund invests in research driven technology companies targeting an expanding global market. The OneVentures Innovation Fund is a $40 million venture capital fund raised in 2010 and formed as an Early Stage Venture Capital Limited Partnership.
OneVentures is supported by the Australian Government through the IIF program with this funding matched by institutional investors, individual high net worth investors and family offices. The Fund returns are tax free on income and capital account for national and international investors. The IIF is an Australian Government venture capital initiative that provides investment capital and managerial expertise through licensed venture capital fund managers to investee companies.
About Citrix Startup Accelerator
Citrix Startup Accelerator (http://citrixstartupaccelerator.com/) invests in enterprise startups creating the next generation of cloud infrastructure services, mobile enterprise solutions, and collaboration technologies.
Incoming and NICTA inquiries:
Communications Specialist, NICTA
Ph: 02 9376 2098 or 0488 229 687