The developers of a highly resistant starch banana flour are among four far north Queensland innovators to benefit from the latest round of state funding.
Mt Uncle’s Banana Flour, based at Walkamin on the Atherton Tableland, secured $250,000 from the state’s Advance Queensland Ignite Ideas program.
Rob and Krista Watkins will use the funding to optimise production of its Natural Evolution product range, which is largely based on the healthy, gluten-free properties of locally grown, green, Lady Finger and Cavendish bananas.
“We aim to turn the Natural Evolution into a global, well-recognised health food brand,” Robert Watkins said.
“We know our product range is attractive to overseas investors and we are confident our production process can be replicated globally to meet expected consumer demand.
“Lack of funding is a key barrier to growth for innovative businesses like ours, so this Queensland Government investment could not come at a better time.”
Allsafe FNQ, from the Atherton Tableland, secured almost $100,000 to help commercialise their innovative safety alarm for all terrain vehicles.
Cairns recipient, Catch ‘N’ Release, secured $91,000 to refine and market an innovative, reliable anchor retrieval system for small boats and light commercial vessels.
Another Cairns recipient, Didgigo Marketing, secured more than $100,000 to help them achieve global scale for their enterprise software solution.
Innovation Minister Leeanne Enoch said the funding was a catalyst for the international success of these businesses.
“These are the companies which will lead the transition to a robust knowledge economy in far north Queensland, and provide jobs for the future,” Ms Enoch said.
The program is designed to help early stage, high growth potential businesses achieve scale, growth and profitability.
A total of 39 applicants statewide were successful in the Ignite Ideas first round, representing a funding commitment of $5.65 million.
