Queensland’s best and brightest businesses have a new opportunity to access $40 million of investment funding to help unlock their innovative potential.
The Queensland Government will co-invest up to the level of funding provided by a private sector co-investor to assist businesses turn their ideas and innovations into a commercial reality.
The Business Development Fund is part of Advance Queensland which is a comprehensive suite of programs designed to create the knowledge-based jobs of the future, drive productivity improvements and build on Queensland’s natural advantages.
What we are looking for
We are looking for businesses that are:
commercialising cutting edge research, or innovative ideas, products or services
based in Queensland, with the majority of their assets and employees located in Queensland
not engaged in property development, land ownership, finance or construction as their predominate business activity.
Private sector co-investors can be:
investment businesses, incluing venture capital funds
The co-investor must commit to play an active role in supporting the business requiring investment. Therefore, it is highly desirable that the co-investor has a proven track record of prior investment in start-ups and/or early stage investments, including successful investment exits and returns.
The investment must create opportunities for new, high value and skilled employment, and must have a realistic prospect of becoming commercially successful.
About the Business Development Fund
The Business Development Fund is focussed on helping Queensland based businesses commercialise cutting edge research, or innovative ideas, products and services. By focusing on the growth of innovative businesses, particularly in the emerging industries of tomorrow, the Business Development Fund will create high value, knowledge-based and skilled jobs now and into the future.
Through providing early stage co-investment funding, the Business Development Fund will promote angel and venture capital investment in Queensland-based businesses. This will help facilitate the development of a sustainable private market for venture capital finance in Queensland.