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Innovation program boosts industry

MINING Equipment, Technology and Services (METS) companies are being urged to apply for an accelerator program designed to fast-track their ideas to market.

The late-stage industry scheme offers Queensland’s METS sector an opportunity to undertake a series of programs and workshops, guided by industry experts.

As part of the Queensland Government’s Igniting METS Accelerator program, applicants can play their part in boosting the resources sector.

“Delivering the Accelerator and other programs that will drive METS innovation in Queensland is why we’ve partnered with Australian Industry Growth Centre METS Ignited,” Minister for State Development Dr Anthony Lynham said.

“A commitment to research and development is a huge part of what makes Queensland’s METS sector a leader, and the Palaszczuk Government is investing $6 million over four years to help our METS companies turn their good ideas into commercial products faster.”

Queensland METS companies with a prototype or other well-advanced product or service have until 30 June to apply to enter the accelerator.

The 12-week program includes expert mentoring, deep-dive workshops and exposure to industry experts, including potential customers, to help refine and commercialise their idea.

“The late-stage Igniting METS Accelerator will complement the Unearthed accelerator program run out of the Department of Science, Information Technology and Innovation that was launched two weeks ago,” Dr Lynham said.

“That early-stage accelerator program targets METS companies at an earlier stage of the commercialisation.

Any of Queensland’s 800-plus METS companies with a good idea have a pathway to turn it into a commercial reality with the assistance of the two programs.

“We know mining, we know gas, and we know the technology and services those industries need to thrive. This government is committed to seeing great Queensland METS companies grow, prosper and deliver jobs for Queenslanders,” Dr Lynham said.

As a precursor to the Igniting METS accelerator program, METS Ignited and KPMG will be delivering information sessions and training workshops, as well as a bootcamp style pitching and judging event in Mackay.

The roadshow aims to raise awareness, interest and involvement in the METS sector.  Winners of the pitching event will shortcut the application process by being shortlisted into the pool of applicants for final selection into the accelerator which will be held in Brisbane between July and October.

AREEA publicly supported the new 10 Year Sector Competitiveness Plan for the METS industry announced last year.

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