A Sydney-based technology start-up has found rare success on the world stage within just two years of being founded and claims it has no current need for investors.
Hind Technology, which designs and builds software and electronics to control robots, is already struggling to keep up with demand.
The audience at a start-up event at Sydney University this week cheered as founder Jatinder Grewal showcased his company.
"Our projection for December is we will ship 1,000 controllers a month, giving us a monthly revenue of over $700,000," Mr Grewal said.
His pitch is that his specialised control board, called Masso, is more reliable and cheaper than the other options.
The company is now watching the orders roll in from overseas hobbyists and manufacturers.
"It's unbelievable — you wake up and then you see a couple of orders in your email and you've been paid while sleeping," Mr Grewal said.
With the company's growing success, Mr Grewal is now hoping to create new jobs in Australia.
"The next phase is [to hire] someone who's dedicated to working on marketing," he said.
"At the same time [we need] a bigger team who can keep adding more features to the product."
He said being an Australian-based company was proving a selling point for potential customers.
"I've seen this trend when we're selling online. We say, 'It's an Australian product' and to some extent, to my surprise, the American market is our core biggest market at the moment," he said.
Huge growth opportunities for start-ups in Asia
The business has caught the eye of Mathew Benjamin, who runs AsiaRecon, a company that helps others expand into Asia.
Mr Benjamin focuses on businesses with a tangible product and believes Australia is a rich source of start-up talent.
"For the first time in I suppose the last 30 years, we're seeing Asia playing a much more significant role in the commercialisation of digital start-ups as well as high-tech start-ups," he said.
"The advice that we give to people is to build up your strength at home, but some of these companies are put at a disadvantage."
James Alexander from the Incubate program at the University of Sydney Union said he was not worried about businesses being lured overseas.
"In Australia we have a lot of strengths as to why it makes sense [to stay]," he said.
"Some of these start-ups do eventually go overseas just because the market is there or the customers are there, but I don't view that as a lost opportunity," he said.
"They'll bring those networks back to Australia at some point. It's just a matter of when, not if."
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