The WA Government today launched the $4.5 million regional component of the New Industries Fund to drive innovation, diversification and job creation across regional Western Australia.
Up to $300,000 will be allocated to each of the nine regions for initiatives that build a regional innovation pipeline and drive job creation at a local level.
The funding will target small-medium enterprises (SMEs), start-ups, organisations providing innovation support in the regions and transforming existing businesses to seize new industry opportunities.
A further $1.4 million will be invested in inter-regional projects that drive collaboration between innovators across the State to promote economic diversification and job growth.
Projects that could be considered under the inter-regional stream include technology development initiatives to support regional growth and development programs, and commercialisation support for regional start-ups and SMEs.
Each region will establish a Regional Innovation Partnership to collaboratively identify strategic projects that have the greatest potential to grow regional communities.
Submissions will be considered by an independent assessment panel who will make recommendations to the State Government on the allocation of funding.
Organisations and businesses can register to join a Regional Innovation Partnership at http://www.newindustries.wa.gov.au. Roadshow briefings, to explain how the fund works, will be held in each region over the next two months.