The Palaszczuk Government’s Backing Queensland Business Investment Fund (BQBIF) is dedicated to making direct investment in Queensland business and industry. The BQBIF is managed by the Queensland Investment Corporation (QIC).
The BQBIF is part of the $3.34 billion Queensland Jobs Fund which brings tougher current and new industry development and investment programs to boost the State’s industry footprint, create jobs and strengthen Queensland’s economy.
Business Investment Fund
The BQBIF includes the $100 million Business Investment Fund which supports good quality Queensland businesses that need capital to create jobs for Queenslanders.
The Fund is targeting commercial returns to offset any additional State debt borrowed to invest in the Fund. This also allows the Fund to partner with private investors, financiers, superannuation funds and other financial institutions.
Key investment objectives and criteria
QIC is applying their skills and expertise to engage with Queensland businesses and identify commercial investment proposals for the Business Investment Fund with opportunities for appropriate returns for Government.
QIC is targeting investments in small to medium sized business that:
- create Queensland-based jobs
- have a proven product and an established market presence with significant growth potential
- are beyond proof of concept and are generally profitable or approaching profitability
- are seeking capital to expand or restructure operations, enter new markets or finance significant acquisition, and
- have well established and reputable owners who are committed to growing the business from and in Queensland.
Investments made in Queensland businesses
Business Investment Fund investments include:
Gilmour Space Technologies
Gilmour Space is one of Australia’s leading space companies seeking to launch small satellites to low Earth orbits. The Queensland Government’s investment will help fund the construction of Gilmour Space’s unique Eris rockets featuring new and innovative hybrid propulsion technologies. Read more.
Buildsafe
Buildsafe provides end-to-end height safety solutions including fall-guards, scaffolding, walkway systems, void platforms and temporary fencing to some of Australia’s leading residential building companies. Read more.
Further investments are expected to occur over the next three years.
More information
Visit www.qic.com.au/bqbif
Contact bqbif@qic.com
