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Parliamentary Questions


Question Without Notice No. 1257 asked in the Legislative Council on 24 November 2022 by Hon Sophia Moermond

Parliament: 41 Session: 1

WA VENTURE SUPPORT PROGRAM

1257. Hon SOPHIA MOERMOND to the Minister for Innovation and ICT:

I refer the minister to the new Western Australian Venture Support program, funded through the new industries fund, designed to boost new venture capital for startups. Applications closed earlier in November.

(1) How many applications were received by the closing date for the new fund?

(2) When will assessment of the applications be completed and the successful applicants be advised?

(3) Are any other government funding and resources available to incentivise new startups in WA?

Hon SUE ELLERY replied:

I thank the honourable member for some notice of the question and answer on behalf of the Minister for Innovation and ICT. The Department of Jobs, Tourism, Science and Innovation advises the following.

(1) Eight applications were received.

(2) These applications are currently being assessed by an external panel, with the process concluding in early 2023.

(3) The new industries fund is a $16.7 million commitment over four years that supports the acceleration of new and emerging businesses in Western Australia to diversify the economy and create new jobs and industries.

The fund provides for innovation booster grants, the X-TEND WA program, the Western Australian Venture Support program, three innovation hubs, the WA Innovator of the Year awards program, as well as several sponsorships, including for West Tech Fest.