WA Premier Mark McGowan and WA Innovation and ICT Minister Dave Kelly unveiled a $16.7 million New Industries Fund, delivering on an election commitment to create Western Australian jobs through innovation.
The fund will support and accelerate new and emerging businesses in WA through a series of new initiatives, including Innovation Hubs and Science Industry Fellowships, that are designed to increase collaboration across industry, academia and government.
One of the first initiatives to be supported by the fund is the Joondalup Innovation Hub, which will bring together the public, private and research sectors to work in an area of existing strength for WA – cyber security.
The WA Government has provided $800,000 from the fund to support the establishment of the Joondalup Innovation Hub.
In the future, spending from the fund will be guided by input from the innovation sector including $4.5 million allocated to regional areas.
Current successful initiatives such as the Innovator of the Year and Innovation Vouchers programs will also be supported by the fund, but with a renewed focus on creating WA jobs.
Source: WA Government