Queensland start-ups have been urged to take part in the second round of a state government funding scheme that provides up to $50,000 to implement their ideas.
The What’s Your Big Idea Queensland? is an initiative, backed by the Queensland Government and Australian Industry Group, to provide small businesses with grants to tackle a project over a 12-month period.
Grants are available to SMEs registered and operating in Queensland, with the money able to be spent on a new product or process, new business model or costs associated with acquiring intellectual property rights.
The first group of grant recipients were unveiled in April, with 22 small businesses, ranging from a solar tech firm to the manufacturer of a tropical fruit slicer, getting up to $50,000 to commercialise their ideas.
More than 600 applications, in both written and video form, were sifted through by a panel of judges. Nearly half of the applications were from regional Queensland.
The Queensland State Government said that the overall funding allocation for the program has been increased for the second round, from $2.5 million to $3 million.
Andrew Fraser, State Treasurer and Minister for State Development and Trade, says: “Individually the grants give innovative businesses a helping hand to bring their ideas to commercial reality.”
“Collectively they help embed a culture of innovation in the fabric of the Queensland business community.”
Grant submissions will be accepted until September 12, with the winners announced in December.
Entrepreneurs keen on taking part can click here.