A homegrown startup has hit a major milestone by raising $25 million to support innovative companies across Australia.
Founded by Alex Knight, a former Coolum State High and Sunshine Coast Grammar student, Advanced is a strategic capital firm providing flexible research and development (R&D) finance, within days to Australian innovators.
Advanced is a remote-first business that operates across the region, including in shared offices like Salty Spaces in Mooloolaba.
Alex Knight returned to the Sunshine Coast three years ago to raise his family and build a business committed to accelerating innovation and making a positive impact across Australia.
Now, with $25 million in funding, Advanced is helping startups and innovative companies unlock fast, flexible capital through R&D finance – a loan secured against a company’s future R&D Tax Incentive refund.
Advanced has already provided more than 50 finance loans to companies, including local success story Coach Welly.
Through the Sunshine Coast Regional Economic Development Strategy, Council helps local businesses foster a culture of entrepreneurship, innovation, research and digital connectivity.
Sunshine Coast Mayor Rosanna Natoli congratulated Advanced on their milestone and the impact they were making on the region.
“Advanced is a fantastic example of the kind of innovative business our region is capable of producing,” Mayor Natoli said.
“They are helping to create local jobs and accelerate our local innovation ecosystem by setting up the conditions for more startups and innovative companies to flourish.
“Council is focused on building an environment that allows businesses like Advanced to thrive and grow right here on the Sunshine Coast.
“This commitment aligns with our advocacy priorities to cement the Sunshine Coast as one of Australia’s most advanced economies, anchored by technology and innovation .
Founder Alex Knight said Advanced was built to remove the capital bottlenecks that startups, technology and manufacturing companies often experienced.
“We know what it’s like to have big plans and not enough runway,” Mr Knight said.
“That’s why we handle approvals within 48 hours and funding as fast as 24 hours after signing.
“We’re deeply connected to the community, and we’re looking to employ locally and take on UniSC students seeking work experience.
“With every R&D tax advance we make, we’re also advancing causes that matter – supporting local and national impact initiatives.”
Recently, Advanced contributed to local ex-tropical Cyclone Alfred relief efforts, has joined Pledge one per cent and is in the process of becoming a certified B Corp.
The company’s ambitions are also national in scale with a goal to generate a cumulative $1 billion in economic impact in Australia over the next five years.
