The Innovation Centre Sunshine Coast has chalked up another success as a former startup-in-residence becomes the latest success for the University’s high profile business incubator.

Entrepreneurs Adrian Madjeric and Cameron Parsfield began their fibre optic company, Elypsys, as an IT provider in 2014.

Rejected by the banks, the cash-strapped aspiring company founders were given breathing and development space by the Centre, enabling Adrian and his partners the opportunity to evolve their company.

Elypsys is now a private, licensed telecommunications carrier, rescuing businesses across the Sunshine Coast from frustratingly slow internet speeds and expensive business-grade connectivity via an innovative 200km+ fibre optic and fixed wireless network.

Innovation Centre Sunshine Coast CEO, Mark Paddenburg said it was impressive to see Elypsys launch a highly customer-centric, competitive business model at a time where there is so much dissatisfaction with the current providers.

“It’s always satisfying to see our members succeed, grow, and graduate. It’s even better when our members continue the relationship with us and this sponsorship arrangement will continue to support their growth and ours,” he said.

“Innovative disrupters like Elypsys typify what entrepreneurship is all about: developing innovative solutions to real problems and having the courage and determination to back themselves no matter what the odds are."

In their first year on the Sunshine Coast Elypsys netted more than a million dollars in revenue, an impressive kick start that continues to grow. Elypsys is now firmly established, with current long-term contracts exceeding $20m, and business is booming.

“My colleagues and I are grateful to the Innovation Centre for providing us with the opportunity and connections to create our network,” said Mr Madjeric.

Mr Madjeric, 33, exemplifies entrepreneurs challenging the giants in the telecommunications industry that are not effectively addressing consumer demands.

“With access to innovations and great talent, we have been able to design our network in a way that allows us to offer a disruptive pricing strategy – high speed internet for businesses at an affordable rate.”

“We are also delighted to be beneficiaries of the current development surge on the Sunshine Coast, having secured contracts for providing services to high density residential apartments in the Oceanside development, part of the Sunshine Coast University Hospital precinct."

Mr Madjeric has been nominated for the 2017 Sunshine Coast Business Awards by the Centre.