Innovation places boosted by $15M investment

• Palaszczuk Government committed to growing state’s innovation ecosystem
• First $4 million stream offering grants up to $300,000 opens today
• Targeted support for Queensland’s regions

Queensland Premier Annastacia Palaszczuk welcomed more than 350 leaders and emerging leaders from the Australian tech ecosystem at the inaugural National Tech Summit – Forging Australia’s Tech Future, in Brisbane today.

At the Summit, the Premier announced the opening of the first stream in a key economic initiative to bolster technology innovation, boost productivity and stimulate competitiveness in Queensland’s innovation precincts and places.

The $4 million Strategic Initiatives Program opens today and will deliver grants of up to $300,000 to existing Queensland innovation precincts and places to develop:

• Best-practice governance frameworks
• Investment attraction strategies
• Operational assessment strategies

The program is part of the three-year $15 million Queensland Innovation Precincts and Places Fund, set up to support innovation precincts drive ideas through to commercialisation, adoption and diffusion.

The Fund is a key initiative of the 10-year Queensland Innovation Precincts and Places Strategy, with the aim of accelerating Queensland’s innovation economy.

Innovation is key to Queensland’s economic future, putting the state at the centre of the global economic revolution in new technologies, such as artificial intelligence, robotics, immersive technology, and new medical breakthroughs.

The Strategic Initiatives Program is the first of three streams under the Queensland Innovation Precincts and Places Fund.

Innovation places and precincts are where business, industry and researchers work together to bring new ideas to life, create new technologies and then look to commercialise them.

Streams 2 and 3 of the Fund will both open later this year.

Details of this fund can be found at Advance Queensland.

Quotes attributable to Premier Annastacia Palaszczuk:

“Queensland has some of the world’s best in research, universities, manufacturing and tech, and we have a plan to see this sector thrive.

“Our government’s $15 million investment will go a long way in supporting the infrastructure industry and regions need to unlock new opportunities, particularly in the lead up to the 2032 Olympic and Paralympic Games.

“I want to see more international success stories start here in Queensland, creating jobs for the next generation of tech heavy weights.

“This is an exciting time to be a Queenslanders, and I know our best days are ahead of us.”

Quotes attributable to Innovation Minister Stirling Hinchliffe:

“We want Queensland to have world-class innovation infrastructure to drive ideas from concept right through to commercialisation.

“These funds will help existing and emerging precincts get the strategic advice they need in the areas that matter to help create high-value jobs and drive Queensland’s innovation economy.  

“It’s important that innovation is at the heart of everything Queensland does and delivers, particularly in the lead up to the Brisbane 2032 Olympic and Paralympic Games.”

Further information:

Stream 2

• $1 million for the Innovation Place Leaders Network and engaging with targeted stakeholders directly.  This will develop and strengthen linkages and collaborations within and between innovation places and the innovation ecosystem.

Stream 3

• $10 million for the Regional Precincts and Places Infrastructure and Technology program that will provide grants of up to $1 million for smart infrastructure, technology and upgrades that support future industry focused collaborative projects.

In Queensland, they include places like the health-focused Translational Research Institute in Brisbane and the Gold Coast Health and Knowledge Precinct, Toowoomba’s Agtech and Logistics Hub, which is driving the agtech industry in the state, and TropiQ – Townsville Tropical Intelligence and Health Precinct.

ENDS

Media contact – Bill Walker 0437 859 987