Hot DesQ start-ups opt to stay in Qld


Tuesday, 25 July, 2017

Hot DesQ start-ups opt to stay in Qld

The Queensland government’s Advance Queensland Hot DesQ program is well underway, with nine out of 10 start-up companies involved opting to stay in the state.

As part of the program, start-up companies are supported in their relocation to Queensland for six months.

“While the majority are still to complete their term in Queensland, 10 of this first generation have finished,” said Leanne Enoch, Minister for Innovation, Science and the Digital Economy.

“Nine of the 10 have seen what this state has to offer — and want to continue to be part of our innovation ecosystem. All have contributed by mentoring and creating new connections for local start-ups — particularly focusing on regional Queensland.

“These new start-ups who stay will leverage off our proximity to Asia Pacific as well as our sectoral strengths and growing industries within agtech, health, education, tourism and robotics.”

Queensland chief entrepreneur Mark Sowerby said the 25 ‘first generation’ recipients of the Advance Queensland Hot DesQ program have made a significant impact on the local innovation ecosystem.

“We can’t afford to work in isolation. We must have interstate and international connections to be able to crack global markets and Hot DesQ is the key,” Sowerby said.

“Our Queensland start-ups and scale-ups learn and grow from the Hot DesQ teams, and international experts like Josh Lerner from Harvard have categorically told us these programs are needed and work.”

Inaugural Advance Queensland Hot DesQ recipient FlowPay will permanently relocate from Silicon Valley to Queensland — with founder Manfred Neustifter continuing to build his start-up after hiring three Queensland-based team members.

Neustifter spent two years working on his new payments technology in Silicon Valley before moving to Queensland, and was impressed with the local start-up community.

“From Silicon Valley, watching the Advance Queensland initiatives being rolled out, I felt as if this was a golden opportunity to commercialise in Australia,” he said.

“From the moment we arrived we’ve been blown away by the growing momentum and sense of community in Queensland. Our start-up will remain based in Queensland because we have begun building a team here, and because this is a fantastic place to grow a business.”

Round two of Hot DesQ is still being finalised. These applicants will receive up to $100,000 to relocate their business to Queensland for six months at one of Queensland’s host organisations.

Image credit: ©stock.adobe.com/au/SIKOV

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