Millions in new funding has been provided for collaboration between regional universities and industries. 

The Queensland Government has announced a new $7 million Regional University Industry Collaboration Program.

The state says the scheme seeks to bridge the gap between academia and industry.

This initiative, to be delivered in partnership with CSIRO, will support regional universities and accelerate the commercialisation of their research and development efforts. 

It is also designed to address the challenges faced by regional universities, which often have less access to investors and industry networks compared to their metropolitan counterparts. The program will be facilitated by CSIRO's specialist SME Connect team, which will employ three key components to support businesses and universities. 

These include masterclasses to enhance understanding of research commercialisation, regional research/industry events to showcase capabilities and provide networking opportunities, and vouchers worth up to $50,000 to fund collaborative projects between SMEs and universities.

The initiative will include James Cook University, Central Queensland University, University of the Sunshine Coast, and the University of Southern Queensland. 

Further details are available on the Queensland Government's Science into Industry Initiative website.