Increased investment in the Advance Queensland initiative takes the Palaszczuk Government’s total commitment to $420 million, positioning Queensland as the place to turn great ideas into reality.
Investing in Queensland
- Additional funding of $15 million is being provided over four years to develop 10-year priority industry roadmaps and action plans to support emerging and priority sectors.
- Over $10.9 million is being invested in Queensland businesses from the Business Development Fund, which is encouraging venture capital investment in Queensland.
- A further $10 million is being redirected into the successful Ignite Ideas Fund, with almost $16.5 million invested to date in 118 innovative small firms.
- The Industry Attraction Fund is encouraging businesses to relocate or establish new projects in Queensland and has attracted businesses involved in industry sectors such as biofuels, advanced manufacturing and robotics.
- Over 24,000 attended Advance Queensland events, with over half of the attendees from outside of Brisbane.
- More than 120,000 Queenslanders attended the World Science Festival.
- 12 regions across Queensland are receiving funding to grow local collaboration and build local jobs through the Advancing Regional Innovation Program.
- 54 small businesses have been supported to take on graduates to pursue innovative projects.
Discovering new solutions
- To support diversity in our research talent, 134 women researchers and two Aboriginal and Torres Strait Islander researchers are being supported to undertake ground-breaking work in areas such as skin cancer detection and reducing run-off to the reef.
- Advanced health improvements are being explored through investments in a Clinical Genomics Centre and the Integrated HealthCare Fund.
Queensland Trade and Investment Strategy 2017-2022
$35 million is being provided over five years to drive local jobs and help Queensland businesses to export more and expand into international markets.
The strategy identifies 22 new initiatives to boost exports, attract job-creating investment and strengthen Queensland’s regions. Initiatives include export and e-commerce training for business, more international showcases and trade missions, and expanded overseas trade offices.
Attracting investment is not solely limited to growing businesses and generating jobs. Queensland’s first two Social Benefit Bonds (SBB) will see new and innovative approaches to tackling complex social and economic challenges commence this year.
The Newpin Queensland SBB aims to reunite children in the child protection system safely with their families and has a focus on Aboriginal and Torres Strait Islander children. The second SBB, Life Without Barriers, seeks to reduce reoffending rates for Queensland’s young people.
The Government continues to work with non-profit service providers and investors to find solutions for some of Queensland’s toughest social problems.