Palaszczuk Government turning research into reality

The Palaszczuk Government will support Queensland researchers to turn their ideas into commercial products and services through a new $1 million fund.

Minister for Innovation, Science and the Digital Economy Leeanne Enoch today launched the $1 million Advance Queensland Founders’ Fellowships to provide 10 local researchers and clinicians with the opportunity to commercialise their work.

Ms Enoch said the Palaszczuk Government recognised the difficulty many researchers faced when trying to balance continuing their paid research work while trying to transform great ideas into commercial outcomes with the potential to improve the lives of Queenslanders.

“We understand that many great ideas can be left on the shelf or developed overseas because researchers simply do not have the financial capacity to give up their jobs to pursue commercial possibilities,” Ms Enoch said.

“The Advance Queensland Founders’ Fellowship gives our entrepreneurial scientists, researchers and clinicians the chance to take 12 months away from their normal job and spend that time working up their ideas to the stage where they can attract investment to develop their products right here in Queensland.

“We’ll provide funding of up to $100,000, which will include a salary component as well as providing entrepreneurial skills development.”

Ms Enoch said the Founders’ Fellowship program was designed to increase the business and entrepreneurial skills of Queensland researchers and clinicians as well as expand the pool of entrepreneurial talent in the state.

To be eligible for the Founders’ Fellowships, you must be a scientist, researcher or clinician located in a Queensland-based university, research organisation or hospital who is looking to take an innovative idea to market.

Applications will be assessed in a competitive, merit-based process against the assessment criteria by independent panel members with entrepreneurial, commercial and scientific expertise.

Ms Enoch said the Founders’ Fellowship program exemplified the Palaszczuk Government’s commitment and leadership through its $405 million Advance Queensland initiative in transforming Queensland into a strong and resilient knowledge-based economy.

“We see invention and entrepreneurship as fundamental to this goal across all industry sectors and we want to see some of the excellent research being undertaken around our state come to fruition to solve problems and change lives,” she said.

To find out more about the Advance Queensland Founders’ Fellowships and how to apply, visit the Advance Queensland website.

Media contact: Daniel Lato 0438 830 201