Australia's Queensland state government announces plan to entice global startups

Australia's Queensland state government announced plans on Friday to entice international start-ups to the state with grants of up to 100,000 Australian dollars (73,963 US dollars) on offer.

State innovation minister Leeanne Enoch launched the Australian-first initiative in the Silicon Valley during the international launch of the Hot DesQ program, which aims to lure successful international and interstate entrepreneurs to the state.

"Hot DesQ is unashamedly about attracting international and interstate startups to relocate to Queensland for at least six months by offering up to 100,000 Australian dollars (73,963 U.S. dollars) for them to pursue business opportunities and help grow our innovation ecosystem,"Enoch said.

"Startups from anywhere in the world have an opportunity to harness Queensland's unique industry strengths in areas like life sciences and medtech, agriculture, mining, aviation and games and software."

She noted Hot DesQ would also give global and interstate startups a launching pad to expand into the burgeoning Asia-Pacific markets from a Queensland base.

"The program is targeted at emerging startups as well as those who are already established and looking to expand into the booming Asia-Pacific markets."

Federal innovation minister Christopher Pyne also announced on Friday that Australia would locate one of its five startup landing pads in Singapore to assist companies from Australia gain a foothold in Singapore and the wider Asian market.