The Premier of Queensland, the Honourable Annastacia Palaszczuk MP has launched the Queensland Biofutures 10-Year Roadmap and Action Plan ( 2.6 MB) at the 2016 BIO International Convention in San Francisco.
The Queensland Government, as part of the Advance Queensland program, has identified the industrial biotechnology and bioproducts sector as a priority industry with global growth potential, and is committed to stimulating a biofutures revolution in the state.
The industrial biotechnology and bioproducts sector is expanding rapidlyworldwide. By 2022, the global biobased market is expected to be worth US$1,128 billion. Queensland has the potential to become a leading producer of bioproducts and technologies, creating new markets for both technology developers and agricultural producers and providing significant regional development prospects for the state.
The Queensland Government has a vision for a $1 billion sustainable and export-oriented industrial biotechnology and bioproducts sector, attracting significant international investment, and creating regional, high-value and knowledge-intensive jobs.
In order to drive the development and growth of a competitive biofuels and industrial biotechnology and bioproducts sector, the Queensland Government has developed the Queensland Biofutures 10-Year Roadmap and Action Plan. The roadmap supports the establishment of a biofutures industry in Queensland and will unlock the state’s potential to produce advanced biofuels, biochemicals, bioplastics and other biomaterials from sustainable organic and/or waste resources, rather than fossil fuels.
Biofutures is seen internationally as the next wave of economic development, providing major opportunities for innovation, jobs and growth. The Queensland Biofutures 10-Year Roadmap and Action Plan sets us on a path to ride this wave.
A total of 20 key actions have been identified and will be delivered under the Queensland Biofutures Roadmap and Action Plan including:
- the establishment of Biofutures Queensland including the appointment of a Biofutures Industry Envoy and a jointly-funded Research Chair for Advanced Biofuels
- $5 million Biofutures Industry Development Fund
- $5 million Commercialisation Fund
- $4 million Biofutures Acceleration Program.
These key actions complement a number of initiatives and programs already underway and have been designed to meet industry needs and enhance the development of the industrial biotechnology and bioproducts sector in Queensland.
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The Queensland Government’s Advance Queensland program is investing in our future by harnessing innovation to strengthen and diversify the economy and create jobs. Advance Queensland is building an environment where collaboration between industry and research bodies successfully translates ideas and research into commercial outcomes, new and growing business, and jobs. Of particular interest to the industrial biotechnology and bioproducts sector:
Innovation Partnerships positioning Queensland as a global innovation hub with grants to Queensland research organisations to collaborate on research projects with industry.
Research Fellowships supporting post-doctorate researchers with matched funding over three years to undertake research with industry that addresses Queensland’s science and research priorities.
Business Development Fund designed to turn ideas into reality with co-investment in emerging and high-growth Queensland businesses at the forefront of commercialising innovative research or ideas.
Further information is available on the Advance Queensland website.
The Liquid Fuel Supply (Ethanol and Other Biofuels Mandate) Amendment Bill 2015 was passed by the Queensland Parliament on 1 December 2015. Additional information in relation to the biofuel mandate is on the Department of Energy and Water Supply website.
Trade and Investment Queensland is promoting Queensland as an emerging hub for biotechnology companies and research institutes, offering many collaborative and commercial opportunities for investors. Please see the Trade and Investment Queensland website for more information.
For further information about the Queensland Biofutures 10-Year Roadmap:
- view the one-page overview of the Queensland Biofutures 10-Year Roadmap and Action Plan ( 188 kB)
- read the frequently asked questions
- read the Ministerial media statement
For enquiries or assistance please contact the Biofutures Queensland team:
- Tel: 13 QGOV (13 74 68)