Twelve companies involved Queensland’s mining equipment, technology, and services (METS) sector have been picked to take part in the QuantumTX 2024 Queensland METS Technology Incubator Program.
The companies were chosen after making their pitch for their products and services to industry reps, venture capitalists and government officials at the annual QuantumTX Accelerator Showcase in collaboration with the Queensland State Government, showcasing cost-effective technologies and services it has developed to meet the diverse needs of mining and resource companies both in Australia and internationally.
The start-ups who are part of the 2024 cohort are:
- WorkbenchX: Facilitating the industrial circular economy.
- Mineral Technologies: Renowned mineral processing solutions.
- Mining3: A pioneer in mining technology and innovation.
- Underground Wireless Sensing: A world’s first solution using fibre-optic sensing.
- Universal Field Robots (UFR): Specialising in industrial robotics and automation.
- Evocativ Mental Fitness: Addressing mental health in the mining and construction sectors.
- Mechanize Pty Ltd: Innovating equipment design of automated tyre replacement system.
- Quick Safety Pty Ltd: Ensuring electrical safety, through compliance and risk mitigation.
- STEM Punks Education Pty Ltd: Inspiring the next generation through learning.
- Sprint Digital: Building custom software, digital products and automating workflows.
- Illuminate FNQ: A First Nations start-up using evidence-based STEM models in community.
- Mining Skills Australia: Developing animated and mixed realities to build competency.
These companies will take part in the 12-week intensive QuantumTX 2024 Queensland METS Technology Incubator Program provides participants with invaluable business training, mentoring, and resources to the value of $25,000 each.
“The growth of analytics and robotics capabilities in the resources sector alone is predicted to add an estimated A$74 billion to Australia’s economy by 2030 and create 80,000 new jobs,” Quantum TX Program Director, Kylah Morrison said.
The METS sector is already a significant contributor to Queensland’s economy, generating more than $7 billion in gross revenue and supporting 26,700 jobs in the state, many of which are in the technical, scientific, and professional services arenas. It is predicted that there will be an increased demand for the state’s critical minerals as companies aim to achieve net zero emissions by 2050, providing investment opportunities for the state’s METS sector.
Minister for State Development and Infrastructure Grace Grace said the Queensland Government had provided more than $10 million in support to the Queensland mining equipment, technology and services (METS) sector since the initiation of the METS 10 Year Roadmap and Action Plan in 2017.
“We are helping use Queensland’s existing expertise in the resources sector to create new, renewable industries and shape the jobs of the future,” Minister Grace said. “By bringing the best minds in business and research together, we are building partnerships and knowledge sharing, to address the complex challenges in the METS sector.
“We are backing Queensland’s METS companies with new pathways to innovate, so the state can continue to lead the development of responsible solutions for the global energy and resources industries,” the Minister added.
Queensland’s METS Quantum TX accelerator programs aim to equip emerging METS businesses with the necessary skills to commercialise their ideas. The Queensland Government investment, through the implementation of the actions in the Queensland Resources Industry Development Plan, delivers these programs which provide Queensland METS businesses with a competitive market edge.
“Brisbane is widely regarded as the ‘Silicon Valley’ of mining innovation,” Brendan Rutherford, Principal Trade & Investment Officer at Trade & Investment Queensland, said. “Mackay is recognised as a METS Innovation Hub. Queensland METS sector is addressing labour and skills shortages, understanding and responding to decarbonisation drivers and strengthening the resilience of domestic and international supply chains.”
