The Western Australian government has launched a new pilot program to help WA start-ups, emerging businesses and small-to-medium sized enterprises become ready for capital investment.
The X-TEND WA program offers organisations that deliver innovator or investor education programs access to grants of up to $100,000. Applications are now open and close on April 23, 2019.
The funding will be used to deliver programs that are designed to assist WA start-ups, emerging businesses and small-to-medium sized enterprises in becoming scalable and/or investor-ready.
The X-TEND WA program will also offer support to organisations that deliver programs designed to further educate current and potential investors, to provide confidence for private investment in innovative projects throughout Western Australia.
The program is a new initiative funded through the McGowan Government’s $16.7 million New Industries Fund (NIF). The NIF is designed to support projects that build entrepreneurship, innovation and commercialisation to accelerate venture creation, economic diversification and support WA jobs.
“The new pilot program will enhance education of investors, creating greater confidence for investment in Western Australian innovative projects,” innovation and ICT minister Dave Kelly said.
“Improving investment in WA’s start-ups, emerging businesses and small enterprises is crucial to ensuring our local and talented innovators stay in WA, rather than moving interstate or overseas.
“When local businesses stay in WA, they are creating job opportunities for Western Australians and helping diversify our local economy.”