The Biofutures Industry Development Fund is a $5 million repayable fund to help well-advanced industrial biotech proponents to get large-scale projects through the final stage of financial due diligence to secure financing from investors.
The fund helps companies with new projects reach a point at which they can better access venture capital, supporting companies pursuing innovative industrial biotech and bioproducts projects and enhancing Queensland’s reputation as a supportive investment location for the biofutures industry.
The Fund has a two-stage process with the first stage being eligibility. If the project is deemed eligible, then a more detailed application will be invited.
The Biofutures Industry Development Fund guidelines ( 273 KB) were updated in July 2017. To find out if your project might be eligible for support, download the guidelines and make your submission by filling out a Biofutures Industry Development Fund Eligibility Application ( 239 KB). You can lodge your application and supporting documentation through our application portal.
Applications will be reviewed as they are received and applicants will be advised of outcomes as decisions are made.
The Biofutures Industry Development Fund is only one of the Queensland Government’s programs to boost the industrial biotech and bioproducts sector. The Biofutures Acceleration Program aims to accelerate the development of new biorefinery projects in Queensland.