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Queensland Government Investing $300,000 in Startups

by Callum Rodgers

If you’ve ever wanted to start your own business, now is the time. The Queensland Government this year pledged $300,000 to promote the growth of startup companies as part of its Startup Queensland initiative. In an official statement, Premier Palaszczuk said “we need to create more small to medium enterprises in our state that can hopefully grow into business powerhouses. Because they are the innovators. They are the profit-makers. And above all, they are the job creators. If you build the right business model and meet the criteria, we will back you”.

There has never been a better time to get involved in the startup community. Any organisation or business can receive a 50% matched contribution of up to $25,000 to assist in funding not-for-profit activities, such as financing webinars, networking events, presentations, mentoring sessions, workshops, forums and startup weekends. Working or collaborating with other businesses is strongly encouraged and may increase the likelihood of receiving a grant. This program has been eagerly anticipated by local entrepreneurs, with successful applicants having their short term capabilities massively enhanced.

However, this opportunity is for a limited time. The cut-off date for grants is the 30th June 2016, or sooner if the $300,000 is fully expended before the final date. With over 200 startups in Queensland and other organisations jumping on the innovation bandwagon, there will be fierce competition. It is essential to apply as soon as possible, with the initial application process available online through the Advance Queensland website.

Although grant recipients can gain considerable momentum with this initial round of funding, the entrepreneurial path is not without its challenges. Especially for a potential student entrepreneur, finding your feet can be overwhelming. Fortunately, help is available. QUT Starters’ Startup Hatch provides the collaborative environment and necessary resources to take the first steps towards establishing your own startup. For QUT students who are eager to accelerate an idea, collaborate with like-minded innovators, or simply take advantage of the Startup Queensland initiative, Hatch is an essential network to be part of. Startup Hatch connects you with the local startup community and lays the groundwork for your business. Joining this innovative QUT community ensures a competitive edge, industry insight and increased likelihood of success.

The grant pool of $300,000 is unlikely to last long. The sooner you embrace the opportunity to join the Hatch network, the sooner you can begin bridging the gap between your startup dream and reality. 

For more information about Startup Hatch, visit www.qutstarters.com/startuphatch/

Or for Startup Queensland grants, visit Startup Queensland website.