Hon Michael Mischin LLB (Hons) BJuris (Hons) MLC

Hon Michael Mischin LLB (Hons) BJuris (Hons) MLC

Former Attorney General; Minister for Commerce

    Money, money, money for innovative businesses

    10/08/2015 9:00 AM
     
    • Innovation Vouchers Program second round opens today
    • Up to $20,000 available for eligible small-to-medium enterprises

    Small-to-medium enterprises (SMEs) with a great idea and plenty of drive can apply for up to $20,000 as part of the State Government's Innovation Vouchers Program (IVP).

     

    Commerce Minister Michael Mischin said the first round generated strong interest and he was confident the second round would be equally as popular.

     

    Mr Mischin said the extra funding would help businesses access professional skills, services or knowledge to advance their innovation or commercialise activity in the State.

     

    "The program is designed to encourage industry-led innovation, which will increase research and development investment into WA and in turn, create economic and employment opportunities," he said.

     

    About 25 vouchers were awarded during round one this year, totalling $450,000 to help small-to-medium enterprises.

     

    Successful applicants can use the funds for research and development, product development, technology transfer, intellectual property or commercialisation support services.

     

    The Minister said the State Government actively supported entrepreneurialism and innovation through a range of successful programs, services and purpose-built facilities, such as the WA Innovator of the Year program, Innovation Centre of WA, Industry Facilitation and Support Program and Medical Research Commercialisation Fund.

     

    "These programs, services and facilities underpin the broader State approach to helping translate innovation into successfully commercialised goods and services with specialised competitive advantages for world markets," Mr Mischin said. 

     

    "They support the development of internationally competitive industry sectors, creating new economic opportunities and adjusting to fundamental global changes."

     

    Fact File

    • The previous three rounds of funding between 2011 and 2013 provided $600,000 to 32 businesses
    • Applications close at 3pm on September 7, 2015
    • Recipients need to match funds at a rate no less than 20:80
    • For more information, visit http://www.commerce.wa.gov.au  

    Minister's office - 6552 5600