TLDR:
- Queensland backs local VC Sprint Ventures and lures Blues fund Tidal Ventures north.
- QIC-managed Queensland Venture Capital Development Fund (QVCDF) invests in several VCs to support local startups.
Queensland is making significant investments in the local startup ecosystem, with the Queensland Investment Corporation (QIC) backing local VC Sprint Ventures and attracting Blues fund Tidal Ventures to set up shop in the state. The QIC-managed Queensland Venture Capital Development Fund (QVCDF) is supporting both local and non-Queensland VCs, providing matched funding to encourage expansion into Queensland.
These investments aim to fuel growth in sectors such as digital healthcare, climate tech, and AI, leveraging Queensland’s strengths in these areas. The move highlights Queensland’s commitment to supporting innovation and attracting top-tier investors to the region, positioning the state as a hub for tech startups and entrepreneurs.
With the backing of QIC and the government, local VCs like Sprint Ventures are poised to make significant investments in promising startups, driving growth and innovation in Queensland’s burgeoning startup ecosystem. The strategic investments by QIC and the expansion of local and non-Queensland VCs signal a vote of confidence in Queensland’s potential as a leading destination for tech startups in Australia.
