Businesses around Western Australia can now apply for a State Government grant to help commercialise their innovations, helping diversify the State economy and create jobs.
Applications have opened in the 2020 round of the Innovation Vouchers Program (IVP) which helps small to medium enterprises (SMEs) engage professional skills and services to advance their ideas or commercial activities.
Applicants can access up to $20,000 to be put towards research and development, product development, technology transfer and intellectual property, and commercialisation support services.
Protective Innovations, a Malaga-based protective equipment firm that received a voucher in 2019, used its grant to develop a marketing strategy for its innovative products.
It has since grown from 3 to 10 employees and will this year showcase its goods at ConExpo in Las Vegas in March.
Jandakot-based Electro.Aero, a 2018 IVP participant, used its $20,000 voucher to develop a propulsion system for sustainable aviation, Prototype ElectrDuct115.
The firm has now submitted a patent for the system, secured several domestic and international customers, $500,000 in angel investment, and grown from 6 to 9 employees.
Applications for the 2020 Innovation Vouchers Program close on March 25, 2020. Recipients must co-contribute at least 20 per cent of their voucher funding to be eligible.
The program is supported by the McGowan Government’s $16.7 million New Industries Fund. For more information, visit https://www.newindustries.wa.gov.au
As stated by Innovation and ICT Minister Dave Kelly:
“The WA Government recognises that SMEs have great ideas but that it can be difficult taking these ideas and turning them into sustainable business opportunities with real commercial outcomes.
“The Innovation Vouchers Program is designed to help innovators overcome some of those hurdles on the path to commercialisation.
“Last year, 15 vouchers were awarded to WA SMEs across a wide variety of sectors to give them the leg-up they need to turn their great ideas into products that make money and create WA jobs.
“It’s just one of several programs funded by the McGowan Government’s $16.7 million New Industries Fund that is supporting new and emerging businesses in WA to create jobs and diversify the economy.”
