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Smart State Strategy 2005-2015 >
Process – research & development, commercialisation, entrepreneurship and technology diffusion
Process – research & development, commercialisation, entrepreneurship and technology diffusion
The Queensland Government will:
- establish the Innovation Projects Fund with $60 million over four years to support priority research, development and innovation projects. The Innovation Projects Fund complements the Innovation Building Fund and the Innovation Skills Fund by providing operational funding for collaborative projects and research programs that are strategically important to Queensland. The Innovation Projects Fund will advance new areas of research and promote leading technologies in established and emerging industries.
- This funding program will complement the Queensland Government’s $2 million Operational Support Program, an element of the Smart State Health and Medical Research Fund, launched in 2004. The Operational Support Program provides up to $500 000 each year to support the operational costs of research projects undertaken by Queensland’s independent medical research institutes, enabling the institutes to attract further funding from other sources including the Federal Government.
- The Innovation Projects Fund will provide funding to support collaborations and joint ventures between Queensland research organisations, industry and interstate and international research organisations. This will help break down the silos between traditional disciplines and improve links between universities and industry. Encouraging collaboration with overseas partners will attract international investment in Queensland research, development and innovation projects, strengthen Queensland’s skills base and support Queensland organisations in international partnerships and networks. Funding rounds will be called each year, and applicants will be assessed against priority research areas.
- establish the Golden Casket Medical Research Foundation in conjunction with the Golden Casket Lottery Corporation. This new Foundation will provide grants to support strategic health and medical research and development in Queensland. Researchers will be invited to apply for research project funding annually, with applications assessed on a competitive basis. Complementing the Queensland Government’s other initiatives, the Foundation will provide further stimulus to leading-edge medical research originating, and staying, in Queensland.
- identify priority science and research target areas to inform future funding decisions about research and development, infrastructure projects, collaborations, alliances, scholarships and fellowships. The Queensland Government will announce these target areas when it calls for applications for research and development funding under the new Innovation Building Fund, Innovation Skills Fund and Innovation Projects Fund.
- expand the Innovation Start Up Scheme to increase the pool of funds available to assist highly innovative projects at the early stages of commercialisation. This will help innovators attract early stage funding and increase their capacity to create and establish significant new businesses and industries in Queensland.
- expand the scope of the successful Queensland Industry Development Scheme to encourage companies within an industry or across the value chain to collaborate on projects that introduce innovative technology and practices. The focus will be on increasing the adoption of processes and technologies that will fundamentally change the operations and practices of the industry, leading to increased productivity, competitiveness and profitability.
- develop research and development strategies that focus on areas of competitive advantage in partnership with industry and the research and education sectors. The strategies will integrate support for commercialisation and application activities. Priority areas for development include:
- information and communication technology
- health and medical research
- biotechnology.
- establish a network of technology incubators across major regional centres to grow new knowledge-intensive businesses throughout the State. The incubators will nurture technology businesses in their critical early start up stages, providing business advisory and support services. As part of the Statewide Incubation Strategy, the Queensland Government has committed $600 000 for a high tech incubator in Cairns.
- implement the Biotechnology Commercialisation Pipeline (a program to increase private sector investment in biotechnology ventures) by expanding the successful Queensland Capital Raising and Commercialisation Pipeline. Increased private sector investment will help grow the number and size of biotechnology firms, leading to better products and services and more jobs in the sector. The program will focus on building the:
- investment readiness of biotech venture projects through seminars, mentoring panels and workshops
- capacity and readiness of investors to invest in the biotech sector.
- establish the Smart Exploration Service to identify and support new opportunities for mineral exploration in Queensland by collecting and combining geological and geophysical data to create an expanded geoscience knowledge base. Expanded minerals exploration will potentially identify new mine sites in Queensland which, if developed, will deliver significant economic benefits, including more jobs in regional centres.
- develop the ICT Commercialisation Program as a single access point to Queensland Government information and communication technology (ICT) intellectual property through a whole-of-Government register. It will also provide a range of advisory services to support partnerships between government agencies and Queensland ICT firms to commercialise the Queensland Government’s intellectual property. Successful partnerships will help grow the ICT industry in Queensland as well as enable the Queensland Government to earn a further return on its investment.
- implement the Register of Government Intellectual Property (IP) to allow government agencies to register their IP in an online environment with public access. The Register will complement the ICT Commercialisation Program and enable Queensland firms to pursue opportunities for commercialising and using the Queensland Government’s IP with benefits for both parties.