Non-dilutive $50k startup grant to relocate to Queensland (AU)

[drllau]

There are basically 2 accelerator models, the traditional Y-combinator which is a cohort-based mix of cash/in-kind services for a slice of equity, and the Chile model which is more laissez - faire pot-luck get-together. Queensland is trying the latter offering between $50-100k for any startup team to relocate to sunny queensland for 6 months ... they call it the HotDesQ. IF you look at the sectors they are trying to attract

• Artificial Intelligence (AI)
• Internet of Things (IOT)
• Robotics
• Augmented and/or Virtual Reality
• Blockchain
• Health and Medical technology
• Agricultural technology
• Resources and energy technology
• Aviation and aerospace technology
• Advanced manufacturing
• Tourism and Leisure technology

one wonders what the govt is smoking. Having lived in Brisbane for a decade, whilst a notch above the average uni, it'd be hard to claim any superlative expertise beyond agriculture, resource/energy and perhaps tourism/leisure. Simply the local market is too small and many of the touted strengths are too narrow ... eg manfuacturing has long been on decline. However, there are some potential, AR/VR has a lot of applications in the movie industry which has a strong studio presence on the Gold Coast. Anything to do with land management, eg drones or marine applications has early adopters but the capital base is not as diverse which means heavy engineering or hard tech are just not easy to get traction.

However, the fact that its a grant and not dilutive, has a number of attractions for some startups though with the livings costs, you'd pretty much have to be startup hostel living conditions to save any of it. I think this type of 6 month program appeals more to those wanting to escape winter blues from the Northern hemisphere or love travelling / meeting new people. Anyone who's interest, I can give a bit of guidance having lived in brisbane for so long (disclaim I don't have any financial connection with HotDesQ)

Lawrence

http://www.linkedin.com/in/drllau