The Queensland Government’s $755 million Advance Queensland initiative celebrated its 5th birthday on 13 July 2020.
Following government commissioned research into how Queensland could maximise the benefit of investing in innovation, the Advance Queensland initiative was launched with a $180 million investment in July 2015.
Since then, Advance Queensland has rolled out a range of programs to develop entrepreneurial and research talent, build Queensland’s research and development capacity, support startups and businesses to deliver new products and services into global markets and establish new industries that will provide the jobs of the future.
Working in partnership with nine Queensland Government departments and the broader innovation ecosystem, together we have invested more than $1 billion in Queensland to support economic growth and help create jobs across all our regions.
Advance Queensland Achievements
Data correct as at 13 July 2020
How does Advance Queensland compare to the broader innovation ecosystem?
According to industry research*, Advance Queensland business recipients are nine times more likely than the general business population to grow and have a higher rate of patents than the general business population.
Patenting activity is recognised as an indicator of innovation and on average, an Advance Queensland recipient generates about 9.3 patents. This compares to an average of 0.2 patents for the general business population.
Advance Queensland recipients also have a better survival rate than the general business population with a 95 per cent survival rate, compared to only a 50 per cent survival rate for the national business population.
Advance Queensland 5th birthday virtual event
Deputy Director-General, Department of State Development, Tourism and Innovation, Dr Sarah Pearson was joined by a panel of special guests to discuss the future of innovation in Queensland: Shannon Ruska, Tribal Experiences.
- Lisa Siganto, Executive Chair, ImpaQt Qld and ImpaQt Ventures.
- Prof Geraldine MacKenzie, Vice-Chancellor University of Southern Queensland.
- Sheryl Batchelor, CEO and founder of Yiliyapinya Indigenous Corporation.
- Jane Hunter, CEO Tritium.
- Dr Kelvin Ross, Director of the Queensland AI Hub, Chief Technology Officer Datarwe, Director of AIKademi, Director of IntelliHQ, Founder and Chairman of KJR & Associates Pty Ltd.
Discover our top 10 milestones
Advance Queensland is testament that a lot can happen in five years and it was no easy feat narrowing down our top 10 achievements!
Our fifth birthday is as much about you, as it is about us! Our case studies highlight the real-life success stories and show how Advance Queensland has supported Queenslanders on their innovation journey.
*ANALYSIS BY: Pandey V. and Moyle C. 2020, Business School of Management, Business School, QUT, Brisbane.