The McGowan Government is helping start-ups and small to medium enterprises (SMEs) turn big ideas into local job opportunities, with the 2021-22 round of the Innovation Vouchers Program.
Worth up to $20,000 each, the vouchers help early stage businesses access the professional skills and services they need to advance their ideas or commercial activities in Western Australia.
The vouchers provide support in one of four categories: research and development, product development, technology transfer/intellectual property or commercialisation support.
Since the start of the program in 2011, the WA Government has awarded 178 vouchers worth approximately $3.3 million to promising early stage businesses.
Success stories include local foetal monitoring device company VitalTrace, which received a $20,000 voucher in 2017 and since then has grown from two employees to 16 employees and raised $1.3 million in capital. It has three patents underway, with another five planned.
Applications for the 2021 Innovation Vouchers Program close on May 25, 2021. Recipients must co-contribute at least 20 per cent of their voucher funding to be eligible. For example, a $25,000 package includes a $20,000 voucher and a $5,000 co-contribution from the recipient.
More information about the program and how to apply is available at https://www.wa.gov.au/organisation/department-of-jobs-tourism-science-and-innovation/new-industries-fund-innovation-vouchers-program-grants
As stated by Innovation and ICT Minister Don Punch:
"The McGowan Government recognises that start-ups and SMEs play an important role in creating local jobs and diversifying our economy.
"Through the Innovation Vouchers Program, we are helping WA start-ups and SMEs break through barriers to commercialisation and grow their businesses.
"I encourage all local businesses and start-ups looking at how to take their innovation to the next stage to submit an application for a voucher."
