- I Synergy (IS3) signs a research agreement with the University of Western Australia (UWA) to establish a sponsored research project to develop unique software systems
- Under the agreement, I Synergy will pay the university approximately $49,000 payable in two instalments and in exchange, UWA will produce CRC-P grant applications, academic reports, scientific reports and papers to support any patent applications
- There are three components of the sponsored research project which involves several investigations and research
- The company is currently working on two new technologies for the grant applications
- IS3 shares are up 22.5 per cent, trading at 9.8 cents
I Synergy (IS3) has signed a research agreement with the University of Western Australia (UWA) to establish a sponsored research project to develop unique software systems and seek available CRC-P grant funding.
If successful, the grant amounts awarded may be up to $3 million for each grant.
Under the agreement, I Synergy will pay the university approximately $49,000 payable in two instalments and in exchange, UWA will produce CRC-P grant applications, academic reports, scientific reports and papers to support any patent applications.
The company is currently working on two new technologies for the grant applications, a universal digital asset payment infrastructure, and a social media sentiment analytics and prediction platform.
There are three components of the sponsored research project, the first is an investigation and research into a payment system and software for a hybrid blockchain-based marketplace, the deliverable being round one of the CRC-P Grant Application.
The second is an investigation and research of prediction models for markets (deliverable being round two of the CRC-P Grant Application), and the last being the research and
development of a hybrid marketplace built on new and emerging software.
The last deliverables are a final report and scientific papers capable of being published, which are due for completion by April 2023.
The Chief Investigators for the project will be Dr Ponnie Clark from UWA, along with Professor Mohammed Bennamoun and Partner Investigators Dato Lawrence Teo, and Research Associate, Kevin Coutinho from I Synergy Group.
The company emphasises that no grants are at this stage have been guaranteed and will announce any material developments in any grant progress, including any relevant conditions or approvals that are required.
IS3 shares were up 22.5 per cent, trading at 9.8 cents at market close.