Queensland govt earmarks $24m for startup program

Program designed to help increase number of startups in the sunshine state

The Queensland government has set aside $24 million in the 2015-16 state budget for the creation of a Startup Queensland program.

The program is designed to increase startup formation in the state as well as attract startups from elsewhere.

The funding includes innovation advisory and skills development, innovation and technology vouchers for partnering research and support to build successful incubators and accelerators.

The money will also be spent on programs supporting startup and student entrepreneurship.

In addition, the Queensland government has allocated $52 million to improve access to finance and management support for startups and SMEs with ambition to grow in international markets.

This comprises up to $12 million for a Queensland commercialisation program to support proof-of-concepts and a $40 million business development fund.

“As a government, we know that the real drivers of economic change are entrepreneurs and ambitious businesses,” said Queensland treasurer Curtis Pitt.

“We are determined to play our role in supporting high growth, technology-based businesses and help to develop the entrepreneurial skills of the workforce.”

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