The Queensland government has opened applications for the latest round of grant funding for two programs that help to bring startup ideas from prototype to market-ready stage.
The Ignite Ideas Fund is for Queensland Small to Medium Enterprises (SMEs) with high-growth potential to bring their product or service to domestic and international markets, with grants of up to $200,000 on offer.
The Ignite Spark Program – similar to the more modest NSW MVP grants – offers startups in the Sunshine State up to $75,000 to get a product or service ready for customer trials.
More than 450 businesses previously received backing through the Ignite Ideas Fund. They include Helitak Fire Fighting Equipment, which became as a global leader in aerial firefighting, while Worms Downunder has focused on sustainable waste management by developing and manufacturing large-scale, commercial worm farms.
Another 40 companies have scored the Ignite Spark Program cash.
Queensland science and innovation minister Andrew Powell said the latest funding rounds created more opportunities for Queensland-based businesses to continue kicking goals on the world stage.
“The Crisafulli Government is backing our bright sparks, and we are excited to announce the latest funding initiative, designed to bolster businesses with cutting-edge ideas,” he said.
“It can be difficult to attract investors in the field of innovation, but these programs will give SMEs the funds to continue their business journey.
“We know the support of these projects can fast track innovative products and services from prototype to commercially viable, allowing Queensland businesses to tap into new markets.”
Apply for the grants at Ignite Ideas Fund and Ignite Spark Program.
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