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Queensland’s Premier made a significant announcement at the National Tech Summit in Brisbane recently. During the Summit, the Premier revealed the commencement of the first stream in a crucial economic initiative. This initiative aims to fortify technology innovation, enhance productivity, and ignite competitiveness within Queensland’s innovation precincts and other key locations.
The Summit gathered some of the brightest minds in the tech industry, fostering an environment of collaboration and knowledge sharing. The Premier’s announcement holds the promise of propelling Queensland’s tech sector to new heights, ultimately shaping a brighter and more prosperous future for the state.
In the past, the AU$4 million Strategic Initiatives Program had opened its doors, ushering in a wave of optimism and opportunities for existing innovation precincts and places throughout Queensland. These tech hubs were granted the chance to develop their potential with the help of financial support, as grants of up to AU$300,000 were made available.
The programme formed an integral part of the larger three-year, AU$15 million Queensland Innovation Precincts and Places Fund, which had been established to offer essential backing to innovation precincts, driving their ideas from inception to full-fledged commercialisation, widespread adoption, and diffusion across industries.
A pivotal component of the 10-year Queensland Innovation Precincts and Places Strategy, this fund was designed to act as a catalyst for propelling Queensland’s innovation economy to the forefront of the global stage.
Recognising the importance of innovation in securing Queensland’s economic future, the state set its sights on becoming a leading player in the global economic revolution centred around cutting-edge technologies like artificial intelligence, robotics, immersive technology, and groundbreaking medical advancements.
With the first stream, the Strategic Initiatives Program, now in motion, innovation places and precincts became bustling arenas where businesses, industries, and researchers collaborated to bring their groundbreaking ideas to fruition. These creative spaces served as hotbeds for generating innovative technologies, which were then eagerly looked upon for their potential commercial success.
Excitement and anticipation mounted as Streams 2 and 3 of the Queensland Innovation Precincts and Places Fund prepared to follow suit, ready to fuel further progress and growth in Queensland’s tech landscape. Through this concerted effort, Queensland was determined to carve out a thriving innovation ecosystem, solidifying its position as a dynamic player in the ever-evolving global technology landscape.
Queensland’s Innovation Precincts and Places Fund introduced three streams. Stream 2 received AU$1 million for the Innovation Place Leaders Network to enhance collaborations among innovation places. Stream 3 was allocated AU$10 million for the Regional Precincts and Places Infrastructure and Technology programme to support smart infrastructure and future industry-focused projects.
Notable innovation places included the Translational Research Institute, Gold Coast Health and Knowledge Precinct, Toowoomba’s Agtech and Logistics Hub, and TropiQ – Townsville Tropical Intelligence and Health Precinct. The aim was to boost Queensland’s innovation economy and global tech prominence.
The Queensland Premier emphasised that the state possesses world-class expertise in research, universities, manufacturing, and technology, and they have a well-thought-out plan to nurture and expand this thriving sector.
The government’s investment of AU$15 million will play a significant role in supporting crucial infrastructure developments across different regions, thereby unlocking new opportunities. This boost comes at an opportune moment, particularly with the forthcoming 2032 Olympic and Paralympic Games.
The Premier expressed enthusiasm about witnessing more international success stories emerging from Queensland, which will lead to the creation of employment opportunities for the next generation of tech leaders.
Looking ahead, the Premier firmly believes that these are exciting times for Queensland, and the state’s best days are yet to come.
The Innovation Minister of Queensland expressed the government’s vision for the state to possess cutting-edge innovation infrastructure, facilitating the journey of ideas from conception to full-fledged commercialisation.
The allocated funds were intended to provide support to both established and emerging precincts, enabling them to access strategic guidance in crucial areas. The ultimate goal was to foster the creation of high-value jobs and drive Queensland’s innovation economy forward.
Emphasising the significance of innovation in all aspects of the state’s endeavours, the Minister highlighted its paramount importance, particularly as Queensland prepares for the upcoming Brisbane 2032 Olympic and Paralympic Games. The government aimed to leverage innovation as a driving force behind Queensland’s growth and success, embracing opportunities to showcase its capabilities on the global stage.
