Queensland SMEs and start-ups with global ambitions can now apply to the IndustryTech Fund for grants to help accelerate collaborative, industry-based ‘platform technology’ projects.
A platform technology is a group of enabling technologies that are used as a base to develop other applications, processes or technologies.
The IndustryTech Fund is an Advance Queensland initiative targeting businesses doing collaborative, large-scale technology projects.
Co-funding from $250,000 to $5 million is available to accelerate the emergence of new products or services based on a platform technology with global potential.
Previous recipients have included Redback Technologies, which is working on energy-monitoring technology with Springfield Land Corporation, Microsoft, Energy Queensland and the University of Queensland.
The lead applicant to the IndustryTech Fund must:
- be a registered business
- have a minimum of 3 Queensland‑based partners
- be able to demonstrate an ability to fund at least 75% of the cost of the eligible project.
The project itself must aim to achieve a ‘step change’ – a significant step towards the development and commercial application of technologies that improve productivity and competitive advantage.
There are two parts to the application process, with Stage 1 being an expression of interest (EOI).
EOIs can be submitted at any time.
Supporting Queensland start-ups and digital technologies are both priorities of the Queensland Trade and Investment Strategy 2017–2022.