Queensland ICT and biotechnology firms lead the way

Queensland ICT and biotechnology firms lead the way

He has opened the sixth round of funding for the International Trade Show Assistant Program, which provides promotional funding for the state's information and communication technology (ICT) and biotechnology firms.

Mr. Lucas: "This program delivers real results for Queensland companies who want to exhibit at international trade shows and undertake trade missions.

"In the first two rounds of funding alone, 45 recipients reported over $3.8 million in immediate export sales and projected they would increase their export sales by $255 million and create 418 jobs over the following three years.

"That is a very impressive average of $84,000 in immediate sales per company. I want to see more Queensland companies, particularly in regional areas, to take advantage of this programme and apply for funding to help promote their products and services in the international marketplace."

Mr. Lucas added that 63 Queensland ICT and biotech firms had benefited from the programme since it began in 2000, with each receiving up to $5,000 to offset direct expenses incurred: "There are major trade shows this year such as CeBIT 2004 in Hanover and BI02004 in San Francisco, which present fantastic opportunities for Queensland companies to showcase their products and services to lucrative international markets."

"Queensland producers of ICT equipment are already doing this, with equipment exports increasing 18 percent on average each year from 1992/93 to 2002/03, compared with a 5 percent increase across Australia.

"ICT companies looking at business development and expansion may also benefit from personalised business advice offered by my department's Information Industries Bureau."

Applications for ITSAP round six close on March 5, 2004.

Innovation Minister Paul Lucas, is urging Queensland companies to show the world what 'smart state' ingenuity is all about.

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