business
Brisbane founders gain from new hubs and government programs as global ranking rises
The Capital innovation hub and Fortitude Valley precinct are already housing early tenants while $200 million in health and biotech funding flows to South East Queensland projects.
How we reported this
Brisbane’s $5 million innovation hub The Capital opened its doors to 200 startups, including Fishburners and Little Tokyo Two, giving immediate space to companies seeking to scale in defence, cleantech, medtech and deep tech.
Funding and precincts already in use
The Queensland Government put $4 million toward a new innovation precinct in Fortitude Valley and rolled out an $8 million Hot DesQ program aimed at drawing interstate and international founders. Over $200 million in combined federal and state support backs health and biotech work, including the first Australian biomedical scale-up facility at the Bogo Road Innovation Precinct. These measures sit behind Brisbane’s move from 47th to 34th place in the 2024 Global Startup Ecosystem Report.
Startups already inside The Capital report faster access to shared facilities and investor networks that were previously scattered across the city. The Fortitude Valley site is expected to add further co-working and lab space once fit-out finishes later this year.
Events that connect capital and founders
The Something Tech festival returns on 28-29 August at Howard Smith Wharves, bringing 560 tech leaders to meet venture investors and present fintech, agtech and proptech companies. The two-day program focuses on deal-making rather than general talks, matching the sectors that drove the city’s 13-place climb in the global ranking.
Founders can register through the festival site or contact Hot DesQ administrators for relocation support. Those working in health and biotech can approach the Bogo Road facility managers about scale-up bench access. No further announcements on new funding rounds or venue expansions have been made this week.