$150m Queensland innovation grants available

The Queensland government has announced more than $150 million of investment in infrastructure to boost the region’s innovation economy.

The SEQ Innovation Economy Fund is part of the $1.8 billion SEQ partnership between the Australian Government, Queensland Government and Council of Mayors (SEQ), which aims to improve the accessibility, prosperity and liveability of the region – home to around four million residents.

Eligible local governments, industry, public and private entities can now apply for funding for capital projects that will deliver new and improved innovation infrastructure in SEQ and help grow high-value, knowledge-intensive jobs across the region.

The Australian and Queensland governments have committed $50 million each to create the fund, with at least $50 million in co-contributions required from industry.

The fund aims to support capital projects which will:

• Develop infrastructure within existing SEQ innovation precincts to accelerate the delivery of high value, future-focussed employment opportunities
• Grow the SEQ innovation economy through the development and commercialisation of innovative products, services or processes using new and sustainable technologies
• And develop new and leverage existing partnerships that strengthen the SEQ innovation economy to drive greater economic, environmental and social outcomes for the region.

Funding of up to $25 million is available for major capital projects that include new builds, extensions or refurbishments of innovation infrastructure, the purchase and installation of new equipment, or innovation-specific expansions to current capital projects.

Funding of up to $5 million is available for minor capital projects including refurbishments and the purchase and installation of new equipment.

The Federal Minister for Cities Jenny McAllister said: “Investing in future technologies and industries will drive innovation, create more high value job opportunities and make South East Queensland an even more exciting place to work and live.”

Applications for the SEQ Innovation Economy Fund close 22 November 2024.

Picture: Jenny McAllister