Queensland innovators get critical access to China markets

BEIJING: Queensland entrepreneurs and researchers will benefit from placements within China’s dynamic science and technology incubators after Queensland Premier Annastacia Palaszczuk today signed a major agreement with the Chinese Government. 

Ms Palaszczuk, who is in Beijing for Australia Week in China 2016, signed the Commercialisation Partnership Program (CPP) agreement with the Chinese Ministry of Science and Technology (MOST), the agency responsible for steering China’s science and technology development.

Queensland is leading the way as the first state to sign such an agreement with China.

The agreement will see eight Queenslanders annually take up placements in China over the next three years.

“We know innovation can lead to big economic growth,” Ms Palaszczuk said.

“That’s why my Government is committing $480,000 over three years under our Advance Queensland Global Partnership Awards.

“Under these awards, we’re looking to establish the commercialisation accelerator program and develop more outcomes and innovation successes from our state’s science, technology and innovation expertise.

“This is an exciting opportunity that again underlines the global recognition of the leading role our state plays in the science and innovation space in Australia.”

Under the program, successful applicants will receive up to $20,000 to support three-month placements in one of MOST’s six major incubators, including the Zhangjiang National Innovation Demonstration Zone in Shanghai and Zhongguancun Technology Science Park in Beijing.

“Through mentoring, local business links, access to world-class facilities and some of China’s leading business and science experts, incubators are the perfect environment to prototype, test, attract investment, and commercialise innovative ideas,” Ms Palaszczuk said.

Ms Palaszczuk said the agreement was a fantastic opportunity for Queensland entrepreneurs – whether they be a technology startup, established science-related business, or researcher looking to commercialise their new innovation.

“By 2022, China is expected to be the world’s largest financer of research and development,” she said.

“Combined with their economic transition to a more service-based economy, this will increase demand for new technologies and innovations.

“Queensland was the first Australian state government to sign an agreement with MOST, dating back to 2008. The CPP is a result of this strong relationship with MOST which has seen the establishment of various joint research labs dealing with regional and global issues.“

Applications for the CPP program will open soon and involve a competitive application process with successful recipients selected by the Queensland Department of Science, Information Technology and Innovation in consultation with MOST.

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