- $325,000 to boost capacity at WA Life Sciences Innovation Hub
- Funding for new roles and website to enhance investment opportunities
- Government committed to making WA a global hub for innovation and research
The Cook Government is investing an additional $325,000 into the WA Life Sciences Innovation Hub (WALSIH) to expand its services to support local innovators.
Science Minister Stephen Dawson said the funding would enable WALSIH to encourage investment opportunities in the local sector and build further support programs for innovators.
The new funding is in addition to the Cook Government's $3.7 million allocation to WALSIH over four years to provide services for the local industry sector. WALSIH was formed in partnership with the State Government, MTPConnect and the University of Western Australia. It's one of four Government innovation hubs delivering programs to connect and support Western Australia's local innovation ecosystem.
The funding package will enable the development of a new website and two new roles to provide a 'concierge service' to support local innovators. These measures are in response to increased demand and meeting the needs of the local sector.
Provision of the service will include a head of commercialisation position, to assist industry in finding further investment opportunities, as well as an executive officer to deliver administrative support for the Hub's operations.
The new positions will support WALSIH to expand on its current activities, which includes supplying strategic advice to local health and medical life sciences industry to deliver:
- connections with local, interstate and international stakeholders
- provide commercialisation advice
- upskill WA workforce in product translation and commercialisation; and
- market and promote WA's capability strengths nationally and internationally.
The new support services will assist start-ups and small and medium-sized enterprises (SMEs) to attract investment - including Federal and State - funding programs and the new website will supply industry with answers and connections to support their commercialisation journey.
As stated by Science Minister Stephen Dawson:
"The Cook Government is focused on providing the mechanisms and the means for our local innovators to build their businesses and to succeed on an international level.
"We are listening and responding to the needs of the local sector to ensure we have the fundamentals in place to make this happen. Expanding services at the WA Life Sciences Innovation Hub will increase capacity and build more opportunities.
"Health and medical life sciences start-ups encounter many challenges when trying to find funding from grants and investors and WALISH is on hand to help navigate the right pathway.
"A new website, supported by the Cook Government, will help industry make vital connections in the ecosystem, from funding sources to networks, to progress their ventures further.
"Our Government remains committed to having our State become a global leader in the life science sector and this further investment into WALSIH is another significant step towards this goal."
