Palaszczuk Govt funds to drive METS innovation

The state’s $21 billion Mining Equipment, Technology and Services (METS) sector is set to reap the benefits of innovative ideas being fast-tracked to market, thanks to a $2.7 million investment by the Palaszczuk Government.

Minister for State Development Dr Anthony Lynham today announced the funds would support six actions to be delivered in collaboration with METS Ignited, the independent Australian Industry Growth Centre based at QUT Gardens Point. 

“These actions are part of the Palaszczuk Government’s $6 million, four-year commitment to METS Ignited to help facilitate jobs and growth across the state,” Dr Lynham said.

“All of the actions are being piloted in Queensland or offer significant benefits to the state, such as enhancing METS sector clustering in Mackay to encourage local industry collaboration and piloting an industry accelerator in Brisbane.

“Finding new ways to take innovative ideas to market quickly is key to ensuring Queensland’s world-class METS sector can grow and remain sustainable and competitive over the long term, both at home and abroad.

“Increasing collaboration between miners, METS companies and researchers is vital to improving our rate and speed of converting great ideas into dollars.

“The METS sector contributes $21 billion to the state’s gross revenue and has huge potential for further domestic growth and even greater expansion overseas.

“Queensland METS’ companies are international market leaders in exploration, mine design and construction, mine safety, social licence and management, minerals processing, remediation and rehabilitation.

“The sector’s long record of developing innovative solutions to the challenges faced by miners has also seen their innovations applied in other sectors, including agriculture and construction.”

The six actions being implemented by the Department of State Development as part of its collaborative work program with METS Ignited are:

• Piloting a technology accelerator in Brisbane to enhance the commercialisation of new technologies that attract industry investment. A technology business accelerator, generally run by a company with specialist skills, is designed to help startups and early stage companies with great innovations to take their products and services to national and international markets.
• Identifying energy and resources testing facilities to ensure new technologies will attract investment, work out national and international demand for test facilities, and identify the gaps in Queensland’s existing facilities. Expressions of interest have been requested from selected companies seeking a team to gather information on the facilities in Queensland and other states.
• Enhancing METS industry clustering in Mackay, to increase collaboration between companies and foster development of new business opportunities.
• Creating business opportunities for METS companies to supply energy efficiency solutions to the resources sector. A proposal has been prepared by CEEC (Coalition for Energy Efficient Comminution), who will extend their research into energy efficiency in mineral processing to deliver workshops for METS companies in the second half of 2017 and early 2018.
• Developing managerial skills, business models and industry development interventions that support METS companies to create and capture value from new technologies, a proposed initiative with the Queensland University of Technology.
• Developing baseline data that measures the amount of collaboration occurring within the METS sector. This will be used as a baseline for evaluating the impact of the overall actions on Queensland METS.

“While these are significant commitments, they are not the only way the Palaszczuk Government is supporting growth and jobs in the sector,” Dr Lynham said.

“The Palaszczuk Government’s METS sector Roadmap and Action Plan, developed to align with the national METS Sector Competitiveness Plan, is currently due for release in 2017.

“The roadmap will include additional actions designed to assist Queensland METS companies looking to grow their businesses.”

ENDS

Media Contact:          Benjamin Mulcahy 0419 562 389

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