The WA Government will boost jobs across the state’s regions, through a new fund to encourage innovation throughout country areas.
$4.5 million will be devoted to supercharge innovation, diversification under the New Industries Fund, driving job creation at a local level.
“Innovation is critical to building the capability and economic sustainability of our regional communities,” Regional Development Minister Alannah MacTiernan said.
“This funding will support our regions to develop their unique competitive advantages, focusing on developing new businesses and industries as well as helping existing businesses transform to meet the challenges of the 21st century.”
$300,000 will be devoted to nine regions for initiatives that build a regional innovation pipeline and create local jobs.
The funding will target small-to-medium enterprises, start-up businesses, organisations providing innovation support in country areas and transforming existing businesses to take part in new industry opportunities.
$1.4 million will also be invested in regional projects to push collaboration between innovators throughout WA to promote diversification and job growth.
Technology development initiatives to support regional growth and development programs and commercial support for start-up businesses and small-to-medium businesses.
Regions will establish Regional Innovation Partnership to identify strategic projects that with 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 funding allocation.
“Regional communities have some of the most innovative people in the world,” Innovation and ICT Minister Dave Kelly said.
“As the world economy is disrupted by new technologies, it is important that regional Western Australia remains at the cutting edge.”
“The New Industries Fund will support businesses and communities in regional Western Australia to diversify the economy and create WA jobs.”