Funding to accelerate Queensland jobs through innovation

Four industry-focussed business accelerators will receive funding from the $9 million Advance Queensland Industry Accelerators Program to stimulate jobs and growth in early stage businesses and startups.

Acting Minister for Innovation, Science and the Digital Economy Kate Jones said the Palaszczuk Government would fund industry-focussed accelerators to connect entrepreneurs from across Queensland with established industries and businesses to drive innovation and create new jobs.

Each funding recipient will work with up to 30 early stage businesses and startups to provide intensive mentoring to accelerate the development of new products and services, and to seek investment and new customers.

“Each accelerator program will take entrepreneurs with great ideas through an intensive three month process to turn their ideas into products that will make a difference for their chosen industry,” she said.

“For our larger, established businesses and corporations, these accelerators will provide a pipeline of new ideas that can be developed into commercially viable products, services and business models.

“This is an important way for key industries to stay competitive in a rapidly changing economy.”

Accelerators BlueChilli, Innovation Centre Sunshine Coast, QUT Creative Enterprise Australia (CEA) and Unearthed are the first four accelerators to receive funding.

QUT Creative Enterprise Australia will focus on key markets within the creative-tech sector including fashion tech, music tech, interactive media and multimedia, in order to secure investors and international pathways for Queensland’s startups in this growing global industry.

“The Advance Queensland Industry Accelerators Program will help us connect creative-tech startups with potential partners and investors to build scale and achieve global impact,” CEA Executive Manager Mark Gustowski said.

“The world’s appetite for creative technology, applications and services is growing at an exponential rate. This will be the first Accelerator in Australia focused on this significant global market which places the state in pole position to ensure that Queensland’s creatives are positioned to take advantage of the escalating global demand for innovation in this sector.”

Unearthed will work with large resource sector companies, researchers and entrepreneurs to help drive diversification and growth in the mining equipment, technology and services sector.  

BlueChilli will work with local government, academia, investors and industry partners to use big data to generate improvements to the liveability of cities, making it easier for people to travel between places, access information and communicate with each other.

Innovation Centre Sunshine Coast will concentrate on developing better technology and processes for food production with local, national and international food industry businesses, investors and researchers.

Entrepreneurs selected to participate in an accelerator will undergo an intensive three-month program to fast-track their ideas from concept to commercialisation.

Participants will receive mentoring and advice to hasten development of their product, service or business model, as well as access to investors and other specialised advisors to help them compete and gain market share.

More industry-focussed accelerators will be announced shortly. More information can be obtained from the Advance Queensland website.

ENDS

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