Queensland startups and small businesses can apply for up to $250,000 funding to advance their innovative products and services under Round 4 of the Advance Queensland Ignite Ideas fund.
Member for Gladstone Glenn Butcher said the Ignite Ideas fund had supported more than 200 Queensland businesses to date, through $26.5 million (three rounds) of Ignite Ideas funding, creating more than 1000 new jobs.
“Through three rounds of funding the Ignite Ideas program has supported hundreds of Queensland companies,” Mr. Butcher said.
“Ignite Ideas funding has supported applicants from a diverse range of sectors including tourism, agriculture, advanced manufacturing, engineering, renewable energy, information technology, virtual reality, safety, and construction.
The Ignite Ideas Fund comprises two tiers and is open now:
- Tier One: Applicants can apply for up to $100,000 (excluding GST) per project which may be used to fund from 60 to 100 percent of total eligible project costs depending on the size of the applicant organisation. Tier One project activities must be completed within 12 months.
- Tier Two: Applicants can apply for $100,000 up to $250,000 (excluding GST) per project which may be used to fund up to 50 percent of total eligible project costs.
Tier Two project activities must be completed within 24 months.
- Applications are now open and close at 2.00pm EST on Wednesday 9 May 2018.
- Additional application requirements apply.
Projects are assessed on their ability to commercialise innovative products and demonstrate job creation and a positive impact on our regional economy.
Innovation Minister Kate Jones said the Advance Queensland Ignite Ideas program targets businesses with fewer than 200 staff that have a suitable working prototype that is ready to be turned into commercial reality.
More information on the program is available on the Advance Queensland website https://advance.qld.gov.au/entrepreneurs-startups/ignite-ideas-fund.aspx