Queensland seeks to entice global startups

By Greg Bell

International business is critical to the overall success of the Australian economy, which is why Queensland is taking steps to make itself a more desirable destination for investors.

A new initiative is being launched to encourage startups to think about relocating to Queensland, by offering grants of up to $100,000. Known as the Hot DesQ Program, the ultimate aim is for more entrepreneurs to find out what the Sunshine State has to offer, potentially boosting industrial leasing on the Gold Coast in the process.

How the Hot DesQ scheme will work

Anyone who applies for the grant must relocate their operations to Queensland for a minimum of six months. The idea is that companies will be able to tap into the state's expertise in particular sectors, including the likes of aviation, mining and life sciences.

Successful applicants will be hosted by Queensland startup service providers. These are found in various locations, including the Gold Coast, Brisbane, Toowoomba, Sunshine Coast, Cairns and Townsville.

"Hot DesQ will attract emerging entrepreneurs and startup teams, successful Aussie expats, and established startups to Queensland, where they can leverage off our proven track record in world-class research, technology and innovation to grow their businesses," noted innovation minister Leeanne Enoch.

She announced the new initiative, which forms part of the $180million Advance Queensland programme, during a visit to Silicon Valley in the US. It's the ideal opportunity for companies to enter and expand into emerging markets throughout the Asia-Pacific region, which is increasing its position as a player in the global market.

Why Queensland is the place to be for startups

Although the Hot DesQ initiative will no doubt be appealing to the nation's startups, there are plenty of other reasons to take a closer look at buying commercial property on the Gold Coast. The region's economy is particularly buoyant at the moment, plus there's the fact that business confidence is the strongest in the country.

It's the tenth month in a row that Queensland has come out on top of the NAB Monthly Business Survey, confirmed state treasurer Curtis Pitt. He said businesses are starting to realise how strong the Queensland economy is, which is translating into improved all-round confidence.

"We have our trend unemployment rate at two-year lows, with 61,300 new jobs created since the state election," Mr Pitt continued.

"Last month, the respected Deloitte Access Economics' Business Outlook said Queensland would have the fastest growing economy in Australia next financial year."

There seems to be plenty of information to back up this theory. The Queensland government quoted figures from the Australian Bureau of Statistics, showing that the property market is especially buoyant at the moment.

Over the past six months, there's been a rise in the number of people having finance approved for their new home. This makes it the highest increase out of every state and territory.

While this might not necessarily have a direct bearing on businesses' willingness to secure Gold Coast office leasing, it does show people's confidence in the region is holding up. This can only bode well for companies who are new to the area, either off their own back or because they're making the most of the Hot DesQ programme.

Finding your Gold Coast commercial property

The market for buying commercial property on the Gold Coast is competitive at the best of times, but these latest announcements could make the situation even tougher. This is why we're on hand to help.

Our team has been in the business of helping firms find their ideal premises for years, and with us on your side, you can easily stay ahead of the competition.

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