- $100,000 available in funding to deliver the iPREP graduate internship program
- Funding available through the Accelerator Program Access Grants
- Assistance to executive and senior-level managers to boost training and development
- Up to $30,000 in sponsorships for a new Entrepreneur in Residence scheme
The Cook Government has launched three new funding initiatives to stimulate Western Australia's health and medical life sciences industry workforce.
Science and Medical Research Minister Stephen Dawson said, under the iPREP graduate internship program, there was funding of $100,000 per annum available to connect two to three PhD students from local universities and member institutions with biomedical companies to help solve industry problems.
Participants will receive training in design thinking, along with access to research and career experience, with around 48 graduate placements expected across 16 companies.
The initiative, delivered by Perth Biodesign, will extend the existing iPREP program from January 2025 to the end of June 2026.
Under the new Entrepreneur in Residence (EIR) scheme, up to $30,000 in sponsorships will be available to promote WA's biomedical industry at both national and international levels.
EIR will encourage overseas or interstate health and medical life sciences entrepreneurs and experts to take on time-limited residency roles to support local biomedical companies in their growth, allowing local leaders to gain access to valuable advice and guidance for strategic skills development.
Up to $10,000 is available in sponsorship per successful applicant organisation to host the resident entrepreneur, with funding allocated to cover costs for hosting the resident entrepreneur.
Resident entrepreneurs are expected to deliver or contribute to specific programs, events or activities during their tenure in WA to support the broader biomedical system.
The State Government is also allocating $100,000 in funds per year in launching the Accelerator Program Access Grants (APAG).
The grants provide support for senior-level managers to undertake national and/or international internships or participate in senior accelerator or incubator programs.
APAG will award up to $20,000 per company for use in offsetting the cost of flights, accommodation and program registration for successful applicants.
APAG aims to enable WA health and medical life sciences companies to gain exposure to new networks and grow their commercial opportunities and jobs.
The grants will showcase WA talent and build the profile of the State's broader life sciences industry.
For more information, see: Health and medical life sciences industry: iPREP (www.wa.gov.au) , Health and medical life sciences industry: Entrepreneur in Residence Scheme , Health and medical life sciences industry: Accelerator Program Access Grants
As stated by Science and Medical Research Minister Stephen Dawson:
"All three of these initiatives are focused on continuing the Cook Government's goal towards the development and diversification of the State's health and medical life sciences industry.
"The iPREP graduate internship program will leverage industry experience to equip the next generation of innovators with the tools and experience required to excel in the health and medical life sciences industry.
"The Entrepreneur in Residence scheme is expected to bring two to three entrepreneurs to the State, which will help grow our capability, and greatly encourage others to choose WA as their destination of choice to work and innovate.
"Meanwhile, the Accelerator Program Access Grants will no doubt help senior-level managers upskill and learn on an international stage."
