Queensland, Australia Invests Portion of its $6.1Mil Ignite Ideas Fund in Crypto Startup

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Queensland, Australia Invests Portion of its $6.1Mil Ignite Ideas Fund in Crypto Startup

Sun Aug 05, 2018 7:17 pm

Queensland, Australia is giving away millions with its Ignite Ideas fund. This week, it posted details regarding the AUD$8.3 million grant ($6.1 million USD). Something like 70 regional companies shared the bounty, including a cryptocurrency startup, Travelbybit, which managed to snag AUD$100,000 on its way to promoting tourism using crypto.

Also read: Bitcoiners Hope to Have a Friend in Top US Regulator Jay Clayton

Part of Queensland, Australia’s $6.1Mil Goes to Travelbybit
“Tourism is one of Queensland’s most important industries,” Innovation Minister Kate Jones announced. “Travelbybit has devised a clever way to make it easier for visitors to our state to pay for their purchases with a growing number of local businesses accepting cryptocurrency payments.” The company was chosen as part of a larger government initiative, the Advance Queensland Ignite Ideas funding.

Minister Jones continues, “Ignite Ideas was about supporting entrepreneurs from across Queensland to grow their businesses and employ more staff. I understand TravelbyBit is specifically targeting places like Bundaberg – using cryptocurrency to make it easier for tourists to book holidays. That’s why we’ve invested to help them scale-up their operation and ultimately create more jobs in Queensland.”


https://news.bitcoin.com/queensland-aus ... o-startup/

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