• Source: Getty Images
    Source: Getty Images

Queensland premier Annastacia Palaszczuk says a $142 million Advance Queensland fund will drive innovation and in turn, the state, into the emerging global future economy.

Advance Australia – Innovation for a Future Economy 2022-2033 was the next stage in the state’s innovation push, which began in 2015.

“Since then, we’ve invested $755 million, in turn leveraging $988 million from industry partners and supporting more than 27,000 jobs in the state, of which over 11,400 are in the regions.

“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,” Palaszczuk said.

The $142.2 million in funding includes:

  • $100 million over 3 years for new and existing programs under Advance Queensland;
  • $15 million for the Queensland Innovation Precincts and Places Strategy and Action Plan;
  • $10.2 million for the Innovation Action Plan and Office of the Chief Entrepreneur; and
  • $17 million for Department of Environment and Science to support priority industry-science centres of excellence and partnerships and accelerate university commercialisation.

For more information on the roadmap, click here.

Other budget funding announcements included $50 for advanced manufacturing and $17 million for science into industry.

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