Venture capitalists are inundating a Queensland government fund announced four months ago to drive innovation in the state, seeking around 10 times the $75 million offered through more than 50 proposals.
The state corporation running the fund has confirmed the over subscription, but not reports the fund would be topped up to $100 million.
Announced ahead of the June state Budget, the Venture Capital Development Fund (VCDF) launched with government co-funding of $75 million on offer, unlocking a potential $150 million for early-stage Queensland companies.
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