$16.7 million New Industries Fund
Innovation and ICT Minister Dave Kelly today announced the five organisations that have been selected to provide free business advice and mentoring support to hundreds of affected start-ups and SMEs through the X-TEND WA Program.
Selected from previous X-TEND WA recipients, the five providers have a track record in delivering business education and mentoring programs in Western Australia.
The five organisations funded to offer X-TEND business advice and mentoring programs are:
- Vasse-based AgriStart, through its Regional Reboot program in seven towns throughout WA from Albany to Kununurra;
- Atomic Sky, through its Fast Forward WA program;
- Triangle Equity Partners, through a COVID-19 Tactical Action Plan for businesses;
- Perth Angels, through webinars, one-on-one mentoring and links to professional services; and
- Telethon Kids Institute, through its Digital Health-focused programs.
Today's announcement of the funding recipients sees an additional $390,000 of New Industries Fund funding allocated to the X-TEND WA program, that will enable the five organisations chosen to provide valuable support to hundreds of WA start-ups and SMEs.
The providers will use the funding to support innovative companies in both metropolitan and regional areas, and target all industry sectors.
In June 2020, the Minister announced he was advancing funding of up to $800,000 from the $16.7 million New Industries Fund to help start-ups and entrepreneurs facing problems with cashflow, cyber security and business disruption - with $100,000 of this allocated through the X-TEND WA program for business advice and mentoring.
For more information about the program, including the details of each provider, visit https://www.newindustries.wa.gov.au/opportunities/XTENDWA
The New Industries Fund was established in 2017 to support and accelerate new and emerging businesses to diversify the Western Australian economy and create new jobs.
As stated by Innovation and ICT Minister Dave Kelly:
"Today's announcement of a further $390,000 from the New Industries Fund into the X-TEND WA program will see more WA start-ups and SMEs benefit from valuable business advice and mentoring support.
"In response to feedback from the innovation community in June, the State Government advanced $800,000 from the New Industries Fund to support local start-ups and SMEs through the COVID-19 period.
"This funding was welcomed by the sector, and has been able to provide the support needed to WA innovators at a time when they needed it the most.
"The further allocation of funding to the X-TEND WA program will help to continue that momentum, and support our new and emerging industries in the current economic environment through education and mentoring.
"With this additional support, more start-ups and SMEs will be better positioned to deal with the impacts of the pandemic, capitalise on future growth, and ultimately create new jobs."
