Ninefold providing Cloud services for ilab incubator

Australian Cloud computing and storage company Ninefold has signed on to provide free Cloud services to participants in technology incubator ilab's Germinate program.

Under the terms of the agreement, Ninefold will will provide participants in the program free Cloud booster packs for the businesses selected to participate in the Germinate program.

ilab was established by the Queensland government in 2000 to support high-tech startup companies.

It was acquired in 2009 by UQ Holdings, a wholly owned subsidiary of the University of Queensland. ilab subsequently became an independent division of the university's main commercialisation company, Uniquest.

ilab is taking registrations now for the newest germinate program. Successful applicants will receive support services, training, mentoring and support from technology entrepreneurs and up to $20,000 to help establish the business.

In return, the incubator will receive a small equity stake in ventures supported through the program.

ilab also offers Accelerate, Incubate and Exit/Growth programs, to support companies further along the development stage, or that are ready to pursue a return on investment via a sale or through the earning of profits.

NSW-based Ninefold provides virtual servers and Cloud storage services through facilities at Macquarie Telecom's (ASX:MAQ) Intellicentre in Sydney.