Austrailia: According to a news report, the government of Queensland (Palaszczuk Government) is planning to invest $10 million for a period of three years into startups and small businesses. Through this investment, the govt wants to accelerate development with high growth potential.
To help small businesses with investment, minister for innovation, science and digital economy and minister for small business, Leeanne Enoch launched the Advance Queensland Ignite Ideas fund to bring new products and services to the market and create jobs.
“Many Queensland businesses have great ideas but need a financial boost or expert help to get them to market,” said the minister. “The Palaszczuk Government’s Ignite Ideas fund – another Advance Queensland innovation and jobs initiative – is about helping businesses get products to market faster, boosting business growth and creating jobs for Queenslanders.” Enoch announced that from now on, eligible businesses will be able to apply for funding support up to $250,000.
“We know that many startups and small businesses can struggle with developing early stage ideas because of a lack of funding support and dedicated development focus,” she said. “We want to ignite innovation in key industries, such as agriculture, spatial technology and app development, where Queensland has a competitive advantage, and help our business visionaries get their prototypes noticed.”