HALF A MILLION FOR CREATIVE STARTUPS

Written on the 22 April 2016 by Brisbane Business News

HALF A MILLION FOR CREATIVE STARTUPS

MUSIC, fashion, design and gaming entrepreneurs have been allocated $500,000 in funding, courtesy of QUT Creative Enterprise Australia (CEA).

The first-of-its-kind Australian fund, which has been operating since 2013, has assigned $500,000 to support and grow another five to six seed-stage creative startups.

The fund is looking for businesses at the intersection of technology and creative industries. For each startup, between $25,000 and $150,000 will be on offer. 

This announcement comes off the back of fashion-tech startup Fame & Partners' recent capital raise - an early recipient of CEA capital - where they closed a Series A round of $US7.6 million and are hitting strides in the US.

Other fund success stories include Metaverse Makeovers, Like A Photon Creative, GiggedIn, TrademarkVision and Handkrafted.

CEO of QUT Creative Enterprise Australia, Anna Rooke, says the fund is dedicated to bringing up more locals in Australia's creative sector, which is valued at more than AU$35 billion.

She says the fund fills a 'unique gap where there is substantial business and deal flow opportunity to leverage'.

"There are so many opportunities for tech-based startups in the sector, but so little for creative tech," says Rooke.

"The existence of such a fund speaks to the importance and positive reception of creative tech and its relevance for the future of innovation. The huge success and interest generated through Fame & Partners' Series A round is testament to this.

"The QUT CEA fund will give startups from across Australia, not just Queensland, the ability to gain investment previously challenging or not available to creative tech entrepreneurs."

Pictured: QUT CEA Startup Fund investment manager Colin Kinner and QUT CEA CEO Anna Rooke with Metaverse Makeovers product.


Author: Brisbane Business News Connect via: Twitter

Latest News

BRISBANE COAL TERMINAL REOPENS AFTER SHIPLOADER REPAIR

COAL loading has recommenced at New Hope's (ASX: NHC) Brisbane terminal today after repairs to its ship loader, w...

SUPERYACHTS OFFER UNTAPPED POTENTIAL AT COMMONWEALTH GAMES

SUPERYACHT Australia has devised a strategy to attract more superyachts to Queensland and capitalise on revenue op...

GDP FIGURES A 'WAKEUP CALL' FOR PARLIAMENT

THE GDP figures are an end-of-year wakeup call for Parliament about what lies ahead for the country, according to ...

ACCC GIVES GO-AHEAD FOR NEWS CORP TO BUY ARM

NEWS Corporation (ASX: NWS) has been given the green light to acquire Australian Regional Media (ARM) from APN New...

Related News

HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

MCDONALD'S is such a ubiquitous part of the Australian landscape today that it is easy to forget how it change...

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter