Businesses and organisations can now apply for X-TEND WA funding, a competitive co-investment grants program supporting organisations that deliver initiatives to assist and promote the WA Innovation Ecosystem, at any time during the year.
Minister of Innovation and the Digital Economy Stephen Dawson announced that the popular grants initiative will now be open year-round, rather than just once a year for four weeks.
“The State Government has committed $16.7 million to the NIF over four years (2021-2025) with an additional $9.1 million provided for 2023-25 to support the State’s Innovation Strategy and Innovation Action Plan,” Minister Dawson said.
The previous round’s successful grantees were announced last month, and they included nine investor and entrepreneurship education programs that would get over $680,000 in cash.
The initiative supports projects that foster entrepreneurship, innovation, and commercialisation in order to accelerate new and developing firms.
This new stream also aims to provide co-working spaces, entrepreneurs in residence, incubators, and innovation hubs in Western Australia, as well as a more diverse and inclusive innovation ecosystem.
Applications will particularly target initiatives that seek to improve entrepreneurial and investor education for regional, female and indigenous entrepreneurs and innovators.
An evaluation team will convene twice a year to review the most recent submissions, providing applicants with two chances to receive financing.
“Giving entrepreneurs, founders and investors the opportunity to apply for X-TEND WA on their own time means they aren’t in danger of missing a funding window,” said Minister Dawson.
X-TEND WA is a component of the Cook Government’s $25.8 million New Industries Fund (NIF), which intends to accelerate new and emerging enterprises and assist projects that foster entrepreneurship, innovation, and commercialisation in order to expedite venture development, economic diversification, and job creation in Western Australia.
The grants program provides funding to groups that offer high-value educational opportunities that assist the growth of entrepreneurs and encourage private investment in innovative ventures in Western Australia.
