Turning ideas into new products and services
Advance Queensland will improve collaboration between industry and research, build our innovation and start-up culture, and plan for the future.
Advance Queensland will develop closer links between researchers and industry by investing $45 million in an Advance Queensland Future Jobs Strategy to make Queensland the nation’s largest source of investment for industry-research collaboration projects. This will be delivered through:
- Advance Queensland Innovation Partnerships of $25 million to support collaborative research and development projects in priority areas
- the Advance Queensland Innovations Challenges program with $20 million to support large collaborative proposals that drive Queensland forward in areas such as agriculture, innovation, health services delivery and renewable energy. Opportunities under this program will support the development of Queensland’s emerging biofuels agenda with funding matched by partner contributions.
As a Government, we know that the real driver of economic change are entrepreneurs and ambitious businesses. We are determined to play our role in supporting high growth, technology-based businesses and help to develop the entrepreneurial skills of the workforce through:
- a $24 million Startup Queensland program to increase startup formation and attraction in Queensland. This will include funding:
- for innovation advisory and skills development services
- innovation and technology vouchers for partnering research and/or technology and SMEs
- support to scale up successful incubators and accelerators and programs supporting startup and student entrepreneurship
- a $52 million investment to improve access to finance and management support for start-ups and SMEs with ambition to grow in international markets through:
- a $12 million Queensland Commercialisation Program to support proof of concept projects designed to lead to new products and services and
- the $40 million Business Development Fund.
The Government also recognises the need to diversify our economy in the face of greater competition, policy changes that could impact key markets and digital disruption. That’s why we will provide dedicated funding of $1 million to work with industry and establish 10 year roadmaps and an investment prospectus for key industries such as industrial biotechnology (including biofuels) that could spur future growth in jobs and new applications for existing industries and products.
Advance Queensland Innovation Partnership
Three partnerships have already been identified following the Premier’s overseas trade mission to the United States:
- A partnership between the University of Queensland and Emory University, the world’s most successful pharmaceutical drug developer, to partner in the Queensland Emory Drug Discovery Initiative.
- A new Siemens Innovation and Translation Centre at the Translational Research Institute to advance the field of magnetic resonance imaging and spectroscopy in medicine.
- The Queensland Government will support the establishment of a J&J Partnering Office to be located within QUT (J&J Innovation@QUT). This will provide access to Johnson & Johnson’s expertise, particularly in training and education for entrepreneurs and researchers and accelerating commercialisation. This is part of a broader suite of Advance Queensland support designed to better translate our world recognised excellence in medical biotechnology research into healthcare products.
As more partnerships are secured, Queensland’s status as a world class research location will continue to grow.