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The Queensland government is bolstering its efforts to become a leading innovation destination, announcing several multimillion-dollar innovation-focused initiations including an $8 million program to lure startups from other states and around the world.

Premier Annastacia Palaszczuk announced the raft of new policies at the Advance Queensland Innovation and Investment Summit last week, including a $4 million investment to develop the state’s largest startup hub and a major international innovation festival setting up in Brisbane.