Need Assistance?
Call 1300 658 508
What is the Enterprise Acceleration Fund?
The Enterprise Acceleration Fund is a program that aims to invest in innovative, early-stage Queensland companies by supporting increased access to investment capital and jobs growth.
Background
The Enterprise Acceleration Fund supports established small and medium businesses innovate, realise their potential, and promote job creation in Queensland. Enterprise Acceleration Fund is partnering with growing Queensland companies to take the next big step in their business, create strong investment returns, and support the future of the Queensland economy.
The fund will be independently managed by the State’s investment manager, Queensland Investment Corporation (QIC).
The Enterprise Acceleration Fund builds on other Queensland business investment funds managed by QIC that have invested $114.8 million in 65 Queensland businesses and created over 1,000 full-time equivalent jobs.
Objective
The Enterprise Acceleration Fund’s primary objectives are to increase access to growth-stage capital in Queensland and generate successful returns. The Fund will primarily consider co-investment opportunities alongside a third-party.
Need Assistance?
Call 1300 658 508
Funding
The Enterprise Acceleration Fund will support local businesses to help grow their market share with funding between $500,000 and $2.5 million. In addition, the seed funding will grow over time as investments in other businesses are realised and reinvested.
Eligibility
The Enterprise Acceleration Fund will be available to innovative Queensland businesses right across the state that are looking to grow.
The fund targets businesses:
- With a proven product/offering and an established market presence
- That are approaching profitability over the investment period
- Seeking investment of between $2.5 to $10 million
- With a current or planned Queensland-based presence (i.e. Queensland-based FTE)
- With significant growth potential and job creation opportunities
Need Assistance?
Call 1300 658 508
Case Studies
ModnPods
The Enterprise Acceleration Fund invested on ModnPods to help the company double the size of its Arundel manufacturing facilities, and will increase the number of employees from 16 to 100.
ModnPods is a Gold Coast based design and manufacturing company specialising in prefabricated homes and office suites. Each ModnPod is architecturally designed and manufactured on the Gold Coast using 92% Australian premium materials with 70% of those fully recyclable at the end of their life.
Gilmour Space
The Enterprise Acceleration Fund invested in Gilmour Space, helping the company to build sovereign satellite and rocket manufacturing capabilities and boosting their local workforce.
Gilmour Space Technologies is one of Australia’s pioneer New Space companies and the leading venture-backed manufacturer of launch vehicles and satellite platforms. Backed by some of Australia’s biggest investors, the Queensland-based company is tracking to launch its Australian-made Eris rockets and G-class satellite (G-Sat) platforms into Low Earth Orbits (LEO) from early 2023.
Fund Manager
Talk about Queensland Investment Corporation
Some additional details here https://www.smartcompany.
