Launched in 2015, the Advance Queensland Initiative is supporting Queensland startups and industries by providing funding, programs, and partnerships to drive economic growth. Under the Queensland Government’s initiative, six industry roadmaps – each spanning 10 years – have been developed to drive innovation in the state’s startup sector. The roadmaps were established based on ‘priority sectors’ which have been identified as having global growth potential. These sectors include advanced manufacturing, aerospace, biofutures, biomedical, defence, and mining equipment, technology, and services (MET). So far, the Advance Queensland Initiative has assisted thousands of innovators and projects and continues to generate employment across the state. If your venture falls under one of the key growth sectors, we recommend finding out how the road maps and action plans can benefit your Queensland startup.
Advanced Manufacturing
Innovative manufacturing has been identified as a key growth area under Queensland’s startup roadmap. This includes all aspects of manufacturing from modernisations in production to the supply chain process. In Queensland, manufacturing is the third largest employer of full-time workers and contributes $19.2 billion annually to the economy. The initiative’s’ roadmap will focus on environmentally sound and sustainable practices to improve both performance and waste reduction. The Advanced Manufacturing Roadmap aligns with the Made in Queensland program to support the advancement in technologies, products, systems and services.
Aerospace
The Queensland Aerospace 10-Year Road Map and Action Plan aims to accelerate the pace of growth in both the civilian and defence aerospace sectors. The aerospace industry involves all relevant technologies and key support systems for the development, manufacture, modification, operation, upgrade and maintenance of military and civil flight vehicles and related ground support systems. Queensland is a well-known aviation hub and makes a large contribution to the Queensland economy with high revenue, job creation and education across the state. The initiative aims to be a leader in Australasia and Southeast Asia’s aerospace innovation in manufacturing, maintenance, repair, and training.
Biofutures
The release of the Queensland Biofutures 10-Year Road Map showcases a bold vision for Queensland’s evolving biotech sector. Also known as ‘bioproducts’ and ‘biofutures’, the industry focuses on the development and manufacturing of advanced biofuel, biochemicals, bioplastics and other biomaterials. By keeping up the momentum, the roadmap plans on transforming Queensland’s economy by supporting future economic development, attracting new investment, and growing employment in regional Queensland. The sector encompasses a spectrum of innovative scientific and industrial technologies designed to reduce waste by converting sustainable feedstocks into bioproducts. Currently, the sector covers expertise in research and development, including three commercial biorefinery in Dalby, Narangba, and Sarina. Australia’s first pilot scale advanced biorefinery recently began production in Gladstone. The facility will produce fuels suitable for aviation, military, and heavy industrial uses.
Biomedical
The Queensland Biomedical action plan was released in June 2017, alongside an announcement of $2 million in gov funding that will assist biomed enterprises. The roadmap will support Queensland startups and new businesses to scale up and promote capabilities to attract investment. Enterprises such as biopharmaceuticals, generic pharmaceuticals, medical devices, and niche point-of-care diagnostics are industries which, under the roadmap, are expected to expand into new international markets.
Defence
The Queensland Defence Industry’s action plan seeks to increase defence revenue and generate 3,500 new full-time jobs by 2028. The plan contains initiatives to assist Queensland startups and businesses to leverage the state’s competitive advantages to promote and grow defence industry capabilities, and competitiveness in a global market. $10 million of gov funding has been committed to support defence industry hubs in Ipswich and Townsville. Further gov funding has been established to assist startups, small and medium sized enterprises to obtain the skills and accreditations needed to compete in a global market.
Mining Equipment, Technology and Services (MET)
The MET action plan will focus on the development of cost-effective services and technologies to serve the needs of mining, oil, and gas companies. The roadmap has outlined a vision for the sector in the development of commercially valuable solutions for the energy and resources industry. The roadmap focuses on collaboration with approximately $7 million worth of initiatives set aside to deliver partnerships, improve competitiveness and productivity. Gov funding has already been provided in the establishment of METS Ignited to address gaps in the mining ecosystem and to contribute to the commercialisation of mining equipment, technology, and services.
Need Help? Contact Us
At Allied Legal, we work closely with startups from all over Australia and across the world. If you need expert legal advice, or if you need assistance applying for gov funding, you can get in touch with one of our startup experts on 03 8691 3111 or send us an email at hello@alliedlegal.com.au.
For more information on the Advance Queensland Initiative, you can follow the link.
