Funding for QLD small to medium enterprises to solve corporate challenges
This program provides funding to Queensland small to medium enterprises (SMEs) and scaleups to help them find solutions to corporate challenges.
- What do you get? Matched funding of up to $50,000.
- Who is this for? Queensland-based organisations and businesses.
Overview
This program aims to create commercial opportunities for innovative Queensland businesses by connecting them to corporates and provide a risk-managed process to explore and co-fund solutions to corporate challenges.
The benefits of this program for Queensland businesses include:
- access to Advance QLD funding to trial technologies with corporates
- create connections with corporates and potential commercial contracts
- opportunity to pivot products or services to a new sector
- retain intellectual property
- building credibility by having large corporate customers.
The program uses a staged process, designed to manage risk while providing a straightforward pathway for trialling Queensland-developed solutions:
- Identify – Advance Queensland works with corporates to nominate challenges and define their scope and parameters
- Release – a challenge statement is released to market
- Engage – applications are assessed, and shortlisted applicants (SME/scaleup) may be invited to present their proposed solutions with the evaluation panel
- Select – an applicant (SME/scaleup) with feasible solutions is selected and final parameters and negotiations are finalised before entering the project stage
- Fund – the successful applicant (SME/scaleup) will receive funding from Advance Queensland and the corporate to develop and pilot their proposed solution.
Check if you can apply
To be eligible, applicants must:
- have an ABN (Australian business number) registered in Queensland
- be registered for GST (goods and services tax)
- be an established Queensland-based startup or small to medium enterprise (SME) with a full-time equivalent employee (FTE) count below 200
- have a minimal viable product being developed in Queensland
- not have had previous commercial contracts from the participating corporate.
