AusBN – The government has announced that it will provide A$24 million for start-ups as part of its $180 million Advance Queensland scheme.
The funding will be used to encourage more entrepreneurs to build companies within the state.
Thousands of jobs are expected to be created by the scheme, which will also contribute billions of dollars to the state’s economy.
StartupAUS CEO Peter Bradd said: "The Queensland government is setting the agenda for other states and territories today with its Advance Queensland policy initiatives aimed at stimulating jobs growth via the local start-up community.
“We’re pleased to hear Queensland Premier, the Hon Ms Annastacia Palaszczuk MP, is planning to provide an integrated suite of seed funding, co-working space, mentoring, and connection to customers and markets for start-ups, as well as expanding STEM in Queensland schools.
“Giving focus and profile to growing our start-up ecosystem and entrepreneurial community will help secure the next generation of Australian jobs and boost our economic future.
“This has to be a priority for all levels of government.
"Australia won’t be the lucky country forever, and we can no longer rely on traditional sectors such as mining or agriculture to prop us up on a fiscal level.
“Australian political and business leaders need to take a cold, hard look at our economic future and more aggressively back the growth potential within our home-grown start-up community."