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Backing Queensland Business Investment Fund

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 $5.84 billion Queensland Jobs Fund which brings together 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.

VALD

VALD is a global sports technology company providing cutting-edge musculoskeletal health and performance testing to leading sporting teams, including in the AFL, NRL, NFL, NBA and English Premier League. VALD’s technology is also used by universities, hospitals and defence departments around the world as they look to expand further into allied health. Read more.

Skedulo

A developer of scheduling and task management software for mobile workforces, including the health sector, disability and aged care, disaster recovery, renewable energy, utilities, and facilities management. Skedulo’s fast-growing, Queensland-based engineering and product development team supports a global client base and offices in Sydney, the UK, US and Vietnam. Read more.

ModnPods

ModnPods develops prefabricated modular pods for residential uses such as backyard studios, granny flats and homes offices, with growing demand in tourism, essential worker accommodation and schools. Their manufactured pods feature 70 per cent Queensland-supplied materials and are completed faster, with less waste and lower cost than traditional construction methods. Read more.

Jacobi

Providing cloud-based technology that delivers portfolio design, risk modelling and dynamic visualisation tools, Jacobi helps global top-tier investment firms communicate more clearly with their clients. The Queensland Government’s investment will support the expansion of Jacobi’s Brisbane-based software engineering and product development team.

Travello

Digital youth travel company Travello is Australia’s leading tour and travel experience brand for millennials across their Travello app, Backpacker Deals and Travel Inspiration brands. Helping attract young travellers from both interstate and overseas to Queensland, the Brisbane-based company will use this investment to triple its existing workforce as it capitalises on pent-up demand in the international tourism sector. Read more.

FairSupply

Providing environmental, social and governance data analytics and reporting, Australian start-up FairSupply is helping companies around the world track risks related to emissions, modern slavery and biodiversity. With offices already operating in Brisbane and on the Sunshine Coast, the Queensland Government’s investment will enable FairSupply to launch new products, continue to their international expansion and grow the size of their Queensland team to 30 within the next five years.

Further investments are expected to occur over the next three years.

Enterprise Acceleration Fund

The $24 million Enterprise Acceleration Fund has been established to invest in innovative, early-stage Queensland companies, supporting increased access to capital and driving jobs growth.

The Fund, managed by QIC, will invest between $500,000 and $2.5 million into growing start-ups with a majority of their employees based in Queensland.

Investments made in Queensland start-ups

Enterprise Acceleration Fund investments include:

Cake Equity

Software-as-a-service provider Cake Equity helps start-ups issue and manage capital to investors and employees, replacing traditional document management with digital solutions to simplify the otherwise complex equity raising process. The Queensland Government’s investment will help Cake to strengthen their technology support platform and double their local staff team from 14 to 40 in the next three years. Read more.

More information

For further information about the Business Investment Fund and Enterprise Acceleration Fund, including how to register your interest, visit www.qic.com.au/bqbif

Contact bqbif@qic.com

Last updated: 24 January 2023