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 $3.34 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.

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

More information

Visit www.qic.com.au/bqbif

Contact bqbif@qic.com

Last updated: 27 October 2022