Optical fibre start-up gets capital boost

A former navy man from Brisbane has received a capital boost for his optical fibre start-up, Lightcore Tech, with funding from RMIT University.

Brad Barr is one of six to receive a $25,000 interest-free loan to help get their company off the ground from the university’s $5 million New Enterprise Investment Fund (NEIF).

“I’m transitioning from the navy, and the support and assistance I’ve received from RMIT and the mentors in getting my pitch ready has been awesome,” said Barr.

The NEIF provides much-needed funding to business start-ups from the university’s student and alumni community and was established earlier in the year to provide the financial support, networks and advice necessary to turn entrepreneurial ideas into viable businesses.

Businessman and broadcaster Eddie McGuire, who chairs the NEIF board, said it was an inspired resource that would support the development of forward-thinking businesses, providing work opportunities for future generations.

“RMIT is renowned for being a world-class centre for education of technology and design,” said McGuire.

“I can’t think of a more perfectly positioned institution to train future business leaders and provide them with a platform to achieve their professional ambitions.”

Image caption: NEIF loan recipient and Brisbane resident Brad Barr.