Queensland’s Business Development Fund (BDF) has supported more than 25 Queensland start-ups to help businesses turn their ideas and innovations into commercial realities – supporting over 100 new jobs and attracting new industries to Queensland.
As part of the 2018-19 budget, the Palaszczuk Government committed an additional $40 million, bringing its total investment for the Business Development Fund to $80 million.
Investment decisions are made by an independent panel of experienced investors, and co-invests between $125,000 to $2.5 million through the fund – which must be at least matched by a private sector co-investor.
The BDF is part of Advance Queensland which is a comprehensive suite of programs designed to create the knowledge-based jobs of the future, drive productivity improvements and build on Queensland’s natural advantages.
The Business Development Fund (BDF) helps Queensland businesses commercialise cutting edge research, or innovative ideas, products and services. By focusing on the growth of innovative businesses, particularly in emerging industries, the Fund supports the creation of high value, knowledge-based and skilled jobs now and into the future.
Through providing early stage co-investment funding, the BDF promotes angel and venture capital investment in Queensland-based businesses. The BDF is part of a wider Queensland Government strategy to support a sustainable private market for venture capital finance in Queensland.