ITECplace was established in 2006 by REDcentre, an Australian company that provided TBC (Technology, Business and Capital) assistance to hundreds of SME's under a contract with the Victorian and Federal Government in the period 1997 to 2008.

The development of the ITECplace business model was subject to an Australian Federal Government ICIP grant and was co-sponsored by the Electronic and Telecommunication Research Institute (ETRI) in Korea.