Media Release
Labor has announced plans for a $40 million Business Development
Fund to help innovative Queensland companies turn ideas into new
products and new jobs without the need for asset sales.
Opposition Leader Annastacia Palaszczuk said: “If Queensland business operators or manufacturers have a fresh idea, I want to hear from them.
“Labor’s new Business Development Fund will help start-up firms develop their ideas, take them to market, and create jobs that don’t rely on asset sales."
“It will help create the jobs of the future in sectors like agriculture, biotechnology, manufacturing, and digital technologies — and all without asset sales.”
Ms Palaszczuk said the new fund was another element in Labor’s overall jobs package.
“This latest policy is further proof of Labor’s focus on creating secure jobs without the need for asset sales — this time by recognising and rewarding innovation,” Ms Palaszczuk said.
“Proof of the failure and broken promises of the Newman LNP Government on job creation is provided every month when ABS jobless figures are released and will be highlighted yet again this Thursday.”
Ms Palaszczuk said the Business Development Fund worth $40 million over four years would help Queensland’s best and brightest business minds.
“The new fund will be managed by a joint-venture partner to leverage private sector investment and ensure innovative Queensland businesses have access to the start-up capital they need to tap new opportunities in emerging markets."
“New products mean new jobs, new business opportunities, and potential new export income for Queensland industry."
“But In 2013 Australian venture-capital funds invested only $79 million in 97 seed, start-up, and other early-stage deals."
“Australia is placed 21st on the worldwide list of venture capital activity as noted in the 2012
World Economic Forum’s Global Competitiveness Report."
“We are falling behind other nations in developing emerging industries and I want to turn this around in Queensland by making investments that lead to new and secure jobs.”
Ms Palaszczuk said the new Business Development Fund would operate in a broadly similar manner to other funds such as New Zealand’s Seed Co-Investment Fund by offering investments on a 50/50 basis based on contributions by a start-up company or group of companies.
She said to be eligible for funding companies would need to have the majority of their assets and employees based in Queensland.
Opposition Leader Annastacia Palaszczuk said: “If Queensland business operators or manufacturers have a fresh idea, I want to hear from them.
“Labor’s new Business Development Fund will help start-up firms develop their ideas, take them to market, and create jobs that don’t rely on asset sales."
“It will help create the jobs of the future in sectors like agriculture, biotechnology, manufacturing, and digital technologies — and all without asset sales.”
Ms Palaszczuk said the new fund was another element in Labor’s overall jobs package.
“This latest policy is further proof of Labor’s focus on creating secure jobs without the need for asset sales — this time by recognising and rewarding innovation,” Ms Palaszczuk said.
“Proof of the failure and broken promises of the Newman LNP Government on job creation is provided every month when ABS jobless figures are released and will be highlighted yet again this Thursday.”
Ms Palaszczuk said the Business Development Fund worth $40 million over four years would help Queensland’s best and brightest business minds.
“The new fund will be managed by a joint-venture partner to leverage private sector investment and ensure innovative Queensland businesses have access to the start-up capital they need to tap new opportunities in emerging markets."
“New products mean new jobs, new business opportunities, and potential new export income for Queensland industry."
“But In 2013 Australian venture-capital funds invested only $79 million in 97 seed, start-up, and other early-stage deals."
“Australia is placed 21st on the worldwide list of venture capital activity as noted in the 2012
World Economic Forum’s Global Competitiveness Report."
“We are falling behind other nations in developing emerging industries and I want to turn this around in Queensland by making investments that lead to new and secure jobs.”
Ms Palaszczuk said the new Business Development Fund would operate in a broadly similar manner to other funds such as New Zealand’s Seed Co-Investment Fund by offering investments on a 50/50 basis based on contributions by a start-up company or group of companies.
She said to be eligible for funding companies would need to have the majority of their assets and employees based in Queensland.
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