- The Crisafulli Government elevates funding to fuel homegrown start-up growth.
- QIC and Brighter Super to support next wave of successful Queensland businesses from early commercial traction to global market leadership.
- $50 million mandate to invest Queenslanders' retirement savings back into the State's economy to drive productivity.
The Crisafulli Government is boosting funding for homegrown businesses thanks to a new partnership between the Queensland Government's investment arm and one of the State's largest superannuation funds.
A $50 million mandate will see Brighter Super and Queensland Investment Corporation (QIC) invest Queenslanders' retirement savings back into the State's economy to drive productivity.
With QIC as investment manager, the mandate will generate investment in innovative Queensland companies across a range of sectors, particularly those leveraging rapidly developing artificial intelligence technology, digitisation, agtech, healthtech and frontier tech.
Initial investments will include Attekus, Australia's leading booking and event management platform provider tailored to local councils, and autonomous agriculture pioneers SwarmFarm Robotics.
The mandate is part of Brighter Super's Queensland Investment Strategy which will see an additional $500 million invested into Queensland assets in the next three to five years, on top of the $1 billion already invested in the State.
Treasurer David Janetzki said the deal would capture the potential next wave of Queensland's successful global market leaders.
"Brighter Super and QIC are both giants of the financial services sector with a shared commitment to Queensland, its people and economic growth," Treasurer Janetzki said.
"Together, they bring the capital and capability to support ambition, reward innovation and ensure the next generation of market leaders are born and grown right here in Queensland.
"I've been clear about my desire for our iconic Queensland institutions to invest in Queensland and this partnership delivers in spades."
Minister for Finance Ros Bates said Queenslanders made up the majority of Brighter's membership.
"This new mandate simply makes good financial sense – it supports members where they live, putting retirement savings to work locally and meaningfully," Minister Bates said.
Brighter Super Chief Executive Officer Kate Farrar said she was excited to announce the partnership, which followed a longstanding relationship between QIC and Brighter Super.
"This partnership reinforces Brighter Super's commitment to investing in Queensland under our Queensland Investment Strategy to support our local communities and members by allocating capital to meaningful Queensland-based opportunities," Ms Farrar said.
"We believe investing in these businesses can produce strong returns for Brighter Super's members whilst contributing positively to Queensland's economy and productivity."
QIC Chief Executive Officer Kylie Rampa said the partnership with Brighter Super connected capital, capability and a commitment to Queensland.
"Since 2016, QIC has invested in more than 85 local businesses, enabling exceptional founders to create over 1,300 jobs building real-world solutions within a thriving, sustainable ecosystem," Ms Rampa said.
"Now, leveraging this capability and a dedicated local team, QIC is proud to manage this mandate on behalf of, and for the benefit of, Brighter Super members."
