In a desperate attempt to regain its IT credibility, the Queensland government ran its own venture capital conference on Wednesday for delegates stranded by the discontinued APEC Technomart.
The Technomart folded on Tuesday night following lower than expected enrolments.
Qld premier Peter Beattie said the government would run the conference on the Gold Coast on Wednesday after "it was made clear that the APEC Technomart could not continue".
"Like the 12 other sponsors who signed up to support the APEC Technomart, we did so on the basis of the 35,000 people who went to the previous Technomart in Taiwan," Beattie said.
"We are disappointed that this event did not attract similar numbers, but we were very keen not to see the venture capital conference collapse because we have been working with international venture capitalists to try to attract investment to Queensland, especially in areas such as biotechnology.
"On the basis of that, we were very keen to see a venture capital conference continue.
"We have people who have traveled from overseas with the expectation that they are going to a venture capital conference on the Gold Coast, and that's what they're going to get," he said.
Conference organisers include WorldxChange Communictions, Boeing, The Courier Mail, Qantas, the Queensland government and a host of Queensland Universities.