GovernmentStartUp News

Queensland contributed $8 Million funding for Startups

Nations around the globe are instigating programs to boost Startup economy. India initiated Startup India Scheme to sustain the Startup Eco system. In similar fashion, recently Queensland launched $8 Million funding via Hot DesQ program.

Growing era of startups has improved economies of many countries. Fresh innovations and ideas garner novel opportunities and employment. Countries around the globe are facilitating programs to support startups. Among them, Queensland recently introduced a program to offer $8 Million for Australian expatriate and Entrepreneurs to spread out their global reach. Startups can get a funding of around $100,000 to initiate their concept through Hot DesQ program. The program will also help to setup the largest Startup hub in the state.

The program will help companies to initiate their concept and turn into a valuable business in future. Annastacia Palaszczuk, the 39th Premier of Queensland, announced that startups can receive a funding of $100,000 for at least 6 months to nurture their businesses in the state.

Hot DesQ program assistance:

  • This Australian-first program will lure international and interstate startups to Queensland for at least six months to pursue their businesses and help grow the entrepreneurial sector in the State.
  • Hot DesQ will provide an injection of new entrepreneurs to create new businesses and jobs, and broaden international connections as well as providing access to global markets and investors.
  • Hot DesQ will leverage off Queensland’s competitive advantages such as proximity to the Asia Pacific region and capability in med-tech, agriculture, aviation and mining, to attract world-class entrepreneurial talent.
  • The program has been designed to put startups across Queensland at the centre by basing the incoming startups in existing innovation hubs around the State.
  • The Hot DesQ hosts span across Queensland, including in Townsville, Gold Coast, Ipswich, Sunshine Coast, Brisbane, Cairns and Toowoomba – with local startups in these locations having unrivalled opportunities to these cutting-edge entrepreneurs.
  • The program is modelled on successful international programs such as ‘Startup Chile’ which has been running since 2010.
  • Applications for the program are now open to international and interstate startups.

Source

 Takeaways:

  • Queensland Hot DesQ program offers 6 Months assistance to pursue business and develop the entrepreneur sector.
  • Each new company can get assistance of $100,000 for initiating the business.
  • The program also offers assistance to enlarge international connection by linking with Global Markets and Investors.
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