The State Government has awarded more than $643,000 to 34 local innovative startups and small businesses to advance their activities across the State through the Innovation Booster Grant (IBG) program.
Thirty small and medium enterprises (SMEs) have been awarded up to $20,000 each to access professional skills, services or commercial knowledge to improve capability and advance their innovative activities in Western Australia through the New Industries Fund.
Four recipients will be supported through health and medical life sciences funding, which aligns with the State Government's Health and Medical Life Sciences Industry Strategy.
Recipients of the IBG include a diverse mix of innovators, including 15 female founders, one Indigenous founder and four regional businesses.
First launched in 2011 and previously known as the Innovation Vouchers Program, the IBG are part of the State Government's New Industries Fund to attract investment and promote the economic diversification of WA. Since launch, 233 grants have been awarded worth approximately $3.7 million.
Previous recipient Soter Analytics used an Innovation Voucher in 2017 to develop its innovative wearable technology for industry safety projects. Since then, Soter Analytics has raised approximately 18.5 million with multiple patents underway, expanded its market to the UK, USA and Europe, and has increased its employee numbers from 3 to 45.
For more information on the IBG program, please visit the wa.gov.au website: https://www.wa.gov.au/organisation/department-of-jobs-tourism-science-and-innovation/new-industries-fund-innovation-booster-grant
As stated by Innovation and ICT Minister Stephen Dawson:
"The Innovation Booster Grants play a key role in supporting the McGowan Government's focus on ensuring our home-grown innovators are recognised and financially supported to reach their potential and create jobs for Western Australians.
"Over $643,000 in IBGs have been awarded to 34 startups and small businesses and I am pleased to see such a diverse mix of founders, including 15 women, four regional and one Indigenous founder.
"Supporting our local innovators and providing a helping hand is the key towards diversifying the State's economy and creating more employment opportunities for our local workforce."
As stated by State Development, Jobs and Trade Minister Roger Cook:
"The WA Government is committed to diversifying the WA economy to attract investment and create local jobs for Western Australians.
"The IBG will also help strengthen WA's health and medical life sciences sector by supporting startups and SMEs through commercialisation, innovation and research.
"Not only will this help these companies compete on the international stage, the program will support outcomes that help to improve the health and wellbeing of all Western Australians."
