AIS scholarship holder Anna Meares has overcome a rollercoaster of emotions to win an Olympic track sprint cycling silver in Beijing.

Meares finished second only months after almost being killed in a shocking track fall in Los Angeles.

Her miraculous effort to reach the final raised hopes of a fairytale ending, but Great Britain's world champion Victoria Pendleton thwarted the Australian.

'I couldn't tell you what this means to me, for all I care that silver medal could be gold,' Meares said.

'Falling seven months out from the Olympic Games and fracturing your C2 vertebra and pretty much all your Olympic dreams go out the window.'

'But two weeks after my crash, all l wanted to do was get back on my bike and from that stage I really believed that it was worth the effort.'

'I'm really proud of that silver.'

Meares Beijing achievement follows four years of dedication and training at the Australian Institute of Sport. She paid credit to the support received from the Institute.

‘The AIS has been outstanding in helping me achieve my Olympic dream.’ Meares said.

‘The support of our coaches, doctors and sports scientists has really been fantastic.’

Meares coach, Shayne Bannan, has paid tribute to the 24-year-old's tremendous achievement.

'To win an Olympic Games silver medal takes hours and hours of training and perseverance.' Bannan said. 'Anna has worked really hard to achieve this great result for Australia.'

AIS Director Professor Peter Fricker was equally as proud and paid tribute to the athlete’s persistence and determination.

'This result is an outstanding success for Anna, Shayne and the AIS cycling program,' Fricker said

'The silver medal is a real testament to both Anna’s personal commitment to her sport and the training program here at the AIS.’

The Australian Institute of Sport was established in 1981, and has consistently contributed to Australia’s outstanding sporting performance on the world stage.

The Australian Olympic team in Beijing consists of 433 athletes. Of these, there are 262 current or former AIS athletes.

The Australian Sports Commission (ASC), on behalf of the Australian Government, invests in and supports our Olympians and Paralympians in many ways.

In addition to the $18.1 million the ASC provided to the AIS in 2007/08, the ASC also funded the athletes’ sports to the tune of $53.4 million in 2007/08.

Furthermore, the ASC provided direct funding totalling $4.3 million to more than 400 athletes in 2007/08 — vital support for athletes in their preparation for sporting success. This represents a total Australian government investment of $75.8 million in 2007/08 for our Olympians and Paralympians. The ASC is committed to providing all Australians with the best opportunity possible to participate in sport.