The Queensland Government has launched a new round of grants under the Ignite Ideas Fund and the Ignite Spark Program to support the state’s aspiring innovators and entrepreneurs.
The Ignite Ideas Fund is designed to empower 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 being offered.
Meanwhile, the Ignite Spark Program aims to help innovation-driven businesses develop their product or service and ensure it’s primed for customer trials, with grants of up to $75,000 available.
Minister for Science and Innovation Andrew Powell said the latest funding rounds created more opportunities for Queensland-based businesses to continue kicking goals on the world stage.
“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,” Powell said.
The state government shared that more than 450 businesses have been supported through the Ignite Ideas Fund and a further 40 through the Ignite Spark Program in the past.
“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. That means more jobs and opportunities for Queenslanders,” Powell said.
He concluded, “Supporting innovative initiatives will showcase Queensland’s potential as a global leader in the highly competitive innovation economy.”
