Western Australian-based start-ups and small businesses looking to commercialise their innovative ideas or projects are being invited to apply for grant funding of up to $20,000 through the McGowan Government’s Innovation Booster Grant program.
The Innovation Booster Grant program (IBG), previously known as the Innovation Voucher Program, aims to boost innovation for early stage start-ups and small businesses by providing financial support for professional skills and services to improve capability and advance their activities in WA.
The program provides support in one of four categories including research and development, product development, technology transfer and intellectual property, and commercialisation support services.
The McGowan Government recognises that small to medium-sized enterprises (SMEs) are major contributors to the WA innovation ecosystem. One of the major hurdles SMEs face is turning great ideas into a commercially viable product.
The IBG is designed to assist SMEs in overcoming those obstacles and assist with early funding to achieve commercialisation. The IBG is a competitive State Government grant program, funded through the New Industries Fund (NIF).
Previous grant recipient AMLab received a $20,000 innovation voucher in 2019 to help them develop a robust Intellectual Property (IP) strategy for their autonomous ship-to-shore container cranes project using machine vision technology.
With the support of the grant, AMLab secured a $1.3 million funding grant as it demonstrated AMLab’s IP strength and solid partnerships, and also contributed to nearly doubling their workforce to 12 employees.
IBG applications open on March 9, 2022 at 9am AWST and close on April 20, 2022 at 11am AWST.
Recipients can apply for up to $20,000 each and are required to make a 20 per cent cash co-contribution plus any GST.
For more information on the program and how to apply please visit 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 Grant is a key part of the McGowan Government’s Diversify WA strategy, to diversify our economy and create new jobs.
“These grants play an important role in the commercialisation journey, from idea to commercialisation and are supported by the McGowan Government’s New Industries Fund (NIF).
“The McGowan Government’s $16.7 million New Industries Fund’s central purpose is to support and accelerate new and emerging businesses across all sectors and regions in WA.
“I encourage all businesses and start-ups to apply for a grant and realise their immense potential in turning innovation into successful enterprises that enhance and grow the WA economy.”
