SecureNet bags Aussie R&D grant

Internet security provider SecureNet will receive a research and development grant from the Industry Research and Development Board of AusIndustry under its R&D Start program.

SYDNEY (ZDNet Australia)--Internet security provider SecureNet will receive a research and development grant from the Industry Research and Development Board of AusIndustry under its R&D Start program.

The grant will be used to fund 50 percent of eligible project costs up to AU$2.6 million (US$1.3 million) associated with SecureNet’s research and development of a smart token based suite for advanced online transaction security.

The project will run through to December 2002, with certain elements "going to market" as early as next May, the company said.

SecureNet has previously been awarded two research and development grants from the Federal Government--both of which led to successful technical development and strong commercial success, it claims.

"The project will provide all the required transaction based security functions in a single package, SecureNet MD, Geoffrey Ross, said.” This will enable deployment and integration of superior security solutions for enterprises easier and more cost effective" he added.

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