Queensland to boost METS sector innovations

Innovations in Queensland’s mining, equipment, technology and services (METS) sector will receive a boost from the state government’s new accelerator program.

Applications will soon be open for a new accelerator program, operated by KPMG and funded by the QLD government in collaboration with METS Ignited, the independent Australian Industry growth centre.

The state’s METS companies will have access to financial, marketing, legal and technical advice from July this year to assist with turning their ideas into commercial products.

“The late-stage accelerator program complements the early-stage METS technology accelerator run out of my cabinet colleague Minister Enoch’s department,” natural resources and mines minister Anthony Lynham said.

“Together, these two programs give any of our 800-plus Queensland METS companies with an innovative idea a clear pathway to turn that idea into a commercial reality.”

The program will include two-day boot camps in the regional centres of Toowoomba and Mackay, where candidates will be mentored on their projects.

It will run for 12 weeks, and the successful companies will have the opportunity to present their product or service at a KPMG led event.

“The selection process will look at the research and development that each applicant has poured into their product or service and determine whether it is ready for further commercial development,” Lynham said.

It comes after the state government released a METS sector roadmap and action plan, to align with the upcoming METS sector competitiveness plan.

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