Regional innovation to be showcased at Investment Summit

Fifty regional Queensland startups will be given unprecedented access to global investors during the Advance Queensland Innovation and Investment Summit next month.

A new report released today shows that Queensland’s startup sector is expanding and, with government support through the $180 million Advance Queensland initiative, has the potential to tap into a trillion dollar market.

Innovation Minister Leeanne Enoch said the Palaszczuk Government will provide support to startups to attend and showcase their investment ready ideas at the Premier’s Innovation and Investment Summit.

“This is an opportunity for startups to attend the summit where they can pitch their ideas to Australian and international investors who will also be in attendance,” Ms Enoch said.

“They will also have the opportunity to learn how to grow and scale and become global businesses from our local and international speakers.

“The Queensland Government will work with innovation centres, universities, councils and Chambers of Commerce in regional locations to identify local businesses that are suitable to showcase to investors at the summit.

“The Palaszczuk Government is subsidising travel costs for up to fifty startups to showcase their products and prototypes at the Advance Queensland summit.”

Ms Enoch today released the Regional Queensland Startup Ecosystem Report which highlights the potential value of the burgeoning startup ecosystems across Regional Queensland.

“The importance of startups to the growth and diversity of regional Queensland economies cannot be understated and the Queensland Government is working with regions to understand and build their ability to support innovative businesses,” Ms Enoch said.

“This report shows that there is already a lot of work happening in our regions with some exciting new technologies and innovations that will contribute to the growth of local industries and jobs.”

The Regional Queensland Startup Ecosystem Report identified more than 80 startups are operating in regional Queensland employing an estimated 450 people working in and building these scalable technology businesses.

“They are new businesses, less than five years old, developing innovative products and services, for highly scalable, global markets,” Ms Enoch said.

“We recognise that these high growth businesses have the potential to transform regional economies and through Advance Queensland we are providing support to help them grow and create jobs.”

More information about the growing regional startup sector is available in the Regional Queensland Startup Ecosystem Report.

More information about the summit is available on the Advance Queensland website

Media contact: Daniel Lato 0438 830 201