Qld opens third round of Hot DesQ program

The Queensland Government has opened up Hot DesQ — its initiative to attract high-calibre start-ups to the state — for a third round of funding.

Hot DesQ provides up to $100,000 of equity-free funding to entice start-up founders to relocate to Queensland for at least six months, contributing to growing the state’s entrepreneurial ecosystem.

The program has so far awarded nearly $4.5 million in funding to over 50 start-ups through the initiative.

Hot DesQ is also designed to serve as a facilitator for collaboration and information exchange in the Queensland start-up sector, and its entrepreneurs have delivered or attended events and workshops for more than 3800 attendees from across the Queensland innovation system.

For example, former Hot DesQ Round Two participant and serial entrepreneur Chris Raethke regularly mentors and hosts technical information sessions for local start-ups. He is building his next enterprise, Pinch Labs, in Queensland. Raethke’s last venture was a $50 million start-up in Silicon Valley.

Queensland entrepreneur Ben Hallet said having Mr Raethke as a mentor has helped him grow and fund his own start-up.

“No-one has taken as much time to understand our business as Chris,” Hallet said.

“He brings his invaluable US experience to the table and helps you to think and operate at a Silicon Valley level. He has been advising us week by week on all aspects of our start-up including tech, marketing, team culture, operations and mental health.”

Applications for the third round of the Hot DesQ program close on 19 September.

Image credit: ©iStockphoto.com/russ witherington

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