Business growth potential ignited by Palaszczuk Government Advance Queensland funding
Published Wednesday, 29 March, 2017 at 11:34 AM
Minister for Innovation, Science and the Digital Economy and Minister for Small Business
The Honourable Leeanne Enoch
Advance Queensland Ignite Ideas funding will provide a diverse range of innovative regional businesses the opportunity to break into new local, national and international markets, and create new jobs.
Minister for Innovation, Science and the Digital Economy Leeanne Enoch said 80 innovative businesses across the State would share almost $11 million from the second Ignite Ideas funding round. This is on top of the $5.65 million allocated to round one recipients across Queensland.
“The Palaszczuk Government is supporting businesses through Ignite Ideas funding to develop new and improved products, processes and services that will secure lead customers and additional investment,” Ms Enoch said.
“This will help these businesses launch into global markets and grow.
“These 80 businesses are in their early stage of growth and, with support from the Palaszczuk Government, have the potential to take their innovative ideas to the next level.”
Ms Enoch said among the recipients were two regional agribusiness innovators, one located in Ayr in north Queensland and the other at Goondiwindi in the state's south-west.
“These regional businesses have a great opportunity to grow globally and bring new employment to both regional communities,” she said.
"Both KFSU Ltd in Ayr and Woods Foods Pty Ltd in Goondiwindi are poised for growth stemming from innovative processes they are putting in place and the new product lines they are developing for domestic and export markets.”
KFSU have secured $71,600 funding support to help them develop export markets in the United States, Japan and New Zealand for their innovative functional fibre product, Phytocel, which is derived from sugarcane.
“This Advance Queensland funding will help us expand our company, export more product and employ more staff. We know we’ve got a good product protected by intellectual property – what we need now is a good shove to get us there,” Managing Director Gordon Edwards said.
“That’s where this grant will really help and accelerate our sales push, especially into our key growth market in the United States.”
Woods Foods has secured $112,500 funding support to help them expand their customer base domestically and abroad, and scale their manufacturing operations for food products based on locally grown pulse and sorghum crops.
"This Advance Queensland funding will help us build a strong, diversified agribusiness centred on our regional community here in Goondiwindi,” said Director Angus Woods.
"With this grant we can double our current workforce to 12 people to support the scaling up of our puff and extruded product lines into key growth markets in Australia and abroad.
"Our main barrier to growth is access to specialist people and skills to help us test the market and learn about our competitors – that's where this funding will really give us a boost."
Advance Queensland is a $405 million whole-of-government initiative that aims to turn ideas into actions by investing in research and technologies, attracting new investment, building global partnerships and encouraging businesses to start and grow in Queensland.
More information on the Advance Queensland Ignite Ideas round two recipients can be found at:
MEDIA 0412 393 909