WA VENTURE SUPPORT
1257. Hon SOPHIA MOERMOND to the Minister for Innovation and
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
(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
(1) Eight applications were
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
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.