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Advance Queensland – Business Development Fund (BDF)
Program ID: 13254
Overview
This program aims to help to turn ideas into reality with co-investment in Queensland businesses at the forefront of commercialising ground-breaking research or innovations. It forms part of the $180 million Advance Queensland Program which is designed to create the knowledge-based jobs of the future, drive productivity improvements and build on Queensland's natural advantages.

The objective of the Fund is to grow the pool of angel and venture capital funding available to Queensland businesses, which will support the growth of innovative businesses and create high-value jobs in Queensland.

Funding between $125,000 and $2.5 million are available in the form of a direct investment in the business and not a payment to the co-investor, a grant or a loan. This investment will not however, exceed the amount provided by the private sector and may differ from the level of funding sought from the business. Both the co-investor and the Fund will become shareholders in the business. The Fund will hold this investment until the Fund’s shares are bought out through a merger, acquisition or initial public offering.

The application process involves five steps:
- Online application
- Shortlisting
- Investment pitch
- Evaluation
- Offer

As announced in the 2015-16 Queensland State Budget, a total funding pool of $40 million will be available for this program over four years.
Who Can Apply
Eligible applicants include businesses that must:
- Be commercialising research, an innovative idea or an innovative product or service.
- Require seed, early stage or follow-on investment.
- Create opportunities for new, high-value and skilled employment.
- Have a realistic prospect of becoming commercially successful.
- Be or become a proprietary or public company prior to any investment.

Private sector co-investors can be:
- Individual investors
- Angel investors
- Investment businesses, including venture capital funds
- Syndicate of investors

A co-investor must demonstrate a number of attributes, including:
- Demonstrated commitment to, and track record in, making investments in seed and early stage businesses.
- Experience in providing support, management and mentorship to seed an early stage businesses.
- A strong and established reputation.
- Ability to manage fund reporting.
Main Assessment Criteria
The main assessment criteria include whether:
- The business have the majority of assets and employees located in Queensland.
- A private sector co-investor’s investment in a business match the investment sought from the Fund.
- The business is not principally engaged in property development, land ownership, finance, or construction as their predominant activity, or have an intention to be engaged as such.
- The business is not an investment fund.
Applies to
DocumentationUploaded
GuidelinesJune 2016
Application FormJune 2016
Use these documents as a guide only - always get the latest direct from the Administrator
Status Open
Closing Information
This program is open on an ongoing basis.
Funding Type Investment
Minimum Funding $125,000
Maximum Funding $2.5M
Requires Co-contribution? Yes
Competitive Yes
Location Queensland
Industry
General - Non-Industry Specific
Activities
Export
Innovation and R&D
Start-up / Establishment
Difficulty Rating
Department
Department of Science, Information Technology and Innovation (DSITI)
Program Administrator
Department of Science, Information Technology and Innovation (DSITI)
Telephone 137 468
General Website Visit website
Program Website Visit website
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