Brighter Super backs $50m Queensland innovation in partnership with QIC

Brighter Super Chief Executive Officer Kate Farrar said she was excited to announce the partnership with QIC, with whom Brighter Super have a longstanding relationship. Together, Brighter Super and QIC are working to invest Queenslanders’ retirement savings back into the state’s economy.

“This partnership reinforces Brighter Super’s commitment to investing in Queensland under our Queensland Investment Strategy to support our local communities and members by allocating capital to meaningful Queensland-based opportunities,” Ms Farrar said. “We believe that investing in these businesses has the potential to produce strong returns for Brighter Super’s members whilst contributing positively to Queensland’s economy and productivity.”

Last year, Brighter Super announced its Queensland Investment Strategy focused on investing an additional $500 million in Queensland assets in the next three to five years, on top of the $1 billion already invested in the state.

QIC Chief Executive Officer Kylie Rampa said the partnership connects capital, capability and a commitment to Queensland. 

“Since 2016, QIC has invested in more than 85 local businesses, enabling exceptional founders to create over 1,300 jobs building real-world solutions within a thriving, sustainable ecosystem,” Ms Rampa said. “Now, leveraging this capability and a dedicated local team, QIC is proud to manage this mandate on behalf of, and for the benefit of, Brighter Super members.”

Supporting high-growth businesses in Queensland

The mandate will invest alongside the QIC-managed Queensland Business Investment Fund (QBIF), supporting innovative Queensland companies across a range of sectors benefitting from high growth thematics such as Artificial Intelligence, Digitisation, Agtech, Healthtech and frontier tech.

Providing capital to support businesses as they progress from early commercial traction all the way to scaling and market leadership, the mandate’s investments will have attributes such as: 

• At the time of investment, having significant Queensland growth potential, such as growing operations in Queensland, expanding in Queensland or relocating headquarters to Queensland
• Aligning to the economic strength and strategic priorities of Queensland
• Driving innovation or technology, demonstrable traction and a capacity to build a scaled global business
• Demonstratable product market fit and revenue traction

Initial investments under the mandate will include autonomous agriculture pioneers SwarmFarm Robotics, and Attekus, Australia’s leading booking and event management platform provider tailored to local councils and government.