A total funding of $10M is available to encourage the development and use of platform technologies.
Platform Technologies Program (PTP)
The Advance Queensland Platform Technology Program (PTP) aims to accelerate the development and deployment of significant, highly collaborative, industry-based platform technology projects in Queensland to spur innovation-led economic growth.
The Queensland Government’s $405 million Advance Queensland strategy delivers on the Government’s commitment to building a new economy – one that is strong and diversified, builds on the state’s competitive strengths and generates the knowledge-based jobs of the future.
A platform technology is a group of technologies that is used as a base upon which other applications, processes or technologies are developed. Platform technologies function as innovation catalysts. They facilitate the development of follow-on technologies which can be utilised in many and varied industries, and significant opportunities arise from the convergence of platform technologies.
The PTP aims to deliver a transformative ‘step change’ that speeds the emergence of new products and/or services based on a platform technology, or the convergence of platform technologies, with global potential across one or more industry sectors.
These industry sectors include the six Advance Queensland priority sectors:
- advanced manufacturing
- biomedical and life sciences
- mining equipment, technology and services.
Initiatives in other industry sectors and key Queensland industries such as education, tourism, health and community services, and agriculture will also be considered.
Queensland Government funding is dependent on the total project cost and the level of contribution to the project from other sources.
Projects will be funded at a minimum 1:3 ratio of Government-to-applicant funding.
PTP projects will represent a minimum total investment of $1 million (i.e. a minimum $250,000 Queensland Government grant and a minimum $750,000 cash contribution from lead applicants and their partners, excluding GST).
PTP projects should:
- deliver the development or deployment of an innovative, unique or new platform technology product, process or service with the potential to achieve high growth and create jobs in Queensland
- be based around formalised partnerships with separate Queensland-based industries, small to medium enterprises (SMEs) and/or startups (for the purposes of this project, SMEs are classified as companies with less than 200 employees)
- involve a minimum of three Queensland based collaborators contributing funding and/or in-kind support
- collaborating organisations cannot be related, such as part or subsidiary
- collaborators may include Queensland-based SMEs and/or startups, customers or end users, universities, research institutes and other organisations that can contribute to the demonstration and commercial development of platform technologies
- commit a significant portion of PTP Queensland Government and overall funding to be spent with Queensland SMEs and/or startup partners as part of the project
- have identified applications and growth paths for the platform technology, ideally across multiple sectors
- commence within 90 days after the Queensland Government signs the application approval (Financial Incentive Agreement)
- be completed within an agreed project timeframe up to a maximum of three years
- have a distinct set of activities, with aims and outcomes achievable and reportable within set timeframes
- undertake research and development, testing, demonstration trials or commercialisation of a platform technology or the convergence of platform technologies into new systems
- aim to deliver a transformative ‘step change’ that speeds the emergence of new products and/or services based on a platform technology, or the convergence of platform technologies, with global potential across one or more industry sectors.
To be eligible for funding, the lead applicant funder must:
- be a business (GST-registered, with an ABN)
- have total cash contributions (from the applicant and partner organisations) that are at least three times greater than the PTP funding sought
- be able to demonstrate an ability to fund at least 75 per cent of the cost of the eligible project, other than from Queensland Government funding sources – for instance by providing certified financial statements (including profit and loss statement and balance sheet) for the previous two financial years or otherwise demonstrating that match funding is guaranteed
- where a Special Purpose Vehicle (SPV) is formed for the project, key participants in, and funders of, the SPV may be required to meet the above due diligence requirements
- have ownership, access to, or beneficial use of, any intellectual property that is the subject of, or is necessary to carry out your project.
Applications opened 16 January 2017.
Applications will be accepted at any time until funds are fully committed. Shortlisted applicants will be invited to lodge a Stage 2 Application.