PERTH (miningweekly.com) – The Queensland government has announced plans for a new accelerated programme to benefit the state’s A$21-billion mining equipment, technology and services (Mets) sector.

Minister for State Development Dr Anthony Lynham on Thursday said applications would soon open for the new accelerator programme, which will give Queensland Mets companies access to financial, marketing, legal and technical advice to turn “good ideas” into commercial products.

The programme will be operated by KPMG and funded by the state government in partnership with independent growth centre Mets Ignited.

“These actions are part of the government’s A$6-million, four-year commitment to Mets Ignited to help facilitate jobs and growth across the state,” Lynham said, with the late-stage accelerator programme complementing the early-stage Mets technology accelerator run by the Science Ministry.

“Together, these two programmes give any of our 800-plus Queensland Mets companies with an innovative idea a clear pathway to turn that idea into a commercial reality.

“The Mets sector contributes A$21-billion to the state’s gross revenue and has huge potential for further domestic growth and even greater expansion overseas,” Lynham said.

The programme will include two-day bootcamps in the regional centres of Toowoomba and Mackay where accelerator candidates will get intensive mentoring on getting their ideas implemented.

“The accelerator programme will run for 12 weeks and the successful companies will have the opportunity to present their product or service to industry at a KPMG-led pitching event,” Lynham said.

“The selection process will look at the research and development that each applicant has poured into their product or service and determine whether it is ready for further commercial development.”

The Minister has, meanwhile, said the state government’s Mets sector Roadmap and Action Plan, developed to align with the national Mets Sector Competitiveness Plan, is currently due for release this year.

“The roadmap will include additional actions designed to assist Queensland Mets companies looking to grow their businesses.”