Innovation News Queensland

Queensland Government launches new $142M innovation roadmap

Eliza Sayon Jul 26, 2022

2 min read

The Queensland Government has launched its $142 million Advance Queensland – Innovation for a Future Economy 2022-2032 roadmap, driving more innovation and entrepreneurship in the state.

The new roadmap builds on the success of the existing Advance Queensland innovation agenda. Premier Annastacia Palaszczuk made the announcement at a special Cabinet meeting at The Precinct in Fortitude Valley, the state’s innovation start-up hub.

“When we started on the Advance Queensland journey back in 2015, our aim was to drive innovation, entrepreneurship and jobs to engage in the emerging global future economy,” the Premier said.

“That includes things like the internet of things, artificial intelligence, robotics and biotechnology – that in effect are producing a range of new and interconnected industries, including circular, renewable energy, personalised health, biofutures, and digital economies.”

Advance Queensland initiative was designed to harness the innovation of Queenslanders to increase jobs and exports in the region.

Since the establishment of Advance Queensland, the Queensland Government has invested $755 million and leveraged $988 million from industry partners, supporting over 27,000 jobs across the state.

“Innovation and entrepreneurship are crucial as economies are fundamentally being transformed by major technological shifts – from AI to biotechnology. Places like Silicon Valley and companies such as Airbnb and Tesla,” the Premier said.

“We have to continue to innovate and grow and to capitalise on the success of Advance Queensland initiatives to accelerate economic growth opportunities for Queensland in the lead up to Brisbane 2032.”

Aside from wanting to accelerate economic growth opportunities, the Queensland Government will also be using the roadmap to reverse the brain drain the state is experiencing.

Under the roadmap, $100 million will be used for new and existing programs under Advance Queensland for the next three years.

$15 million will also be provided for the Queensland Innovation Precincts and Places Strategy and Action Plan, and $10.2 million for the Innovation Action Plan and Office of the Chief Entrepreneur.

The roadmap has also allocated $17 million for the Department of Environment and Science to support priority industry-science centres of excellence and partnerships and accelerate university commercialisation.

“And COVID clearly demonstrated the importance of moving business and services online. There is a great opportunity to move forward in this space, investing in digital infrastructure that supports Queensland business and our remote and regional communities,” Queensland Chief Entrepreneur Wayne Gerard said.

“The future is bright for Queensland. We have the talent, skills and drive in our people, and we have a government and public service with the vision and commitment to help us capitalise on this. These all bode well.”

World renowned immunologist and TRI CEO Professor Ian Frazer Queensland said Queensland had invested for some time in facilities to enable research of benefit to society.

“Investing in Innovation Places where the economic and social potential of the research can be realised through collaborations between researchers, investors and industry was a logical extension of the investments already made,” Professor Frazer said.

“The proposed investments in Innovation Places will create new industries and provide opportunities for development and employment of a skilled workforce locally in Queensland.”

Source: Queensland Government Media Statement. Content has been edited for style and length.

Eliza Sayon

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Eliza is a content producer and editor at Public Spectrum. She is an experienced writer on topics related to the government and to the public, as well as stories that uplift and improve the community.