Booster grant for small business start ups
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If you are a start up business or business owner in Western Australia, you may be eligible to apply for the Innovation Booster Grant for 2023.
The Innovation Booster Grant (IBG) is an initiative of the WA Government’s New Industries Fund, which assists WA-based start-ups and small businesses to commercialise their innovative ideas or projects, and to expand to create jobs.
In 2022, over $640,000 was awarded to business owners and innovators to help commercialise their ideas and projects, helping to bring these to life.
A total of 34 start ups and small businesses have been awarded up to $20,000 each as part of this initiative, which is part of the State government’s $16.7 million commitment over four years (2021-2025) to support “the acceleration of new and emerging businesses within Western Australia, through innovation, to diversify the economy and create new jobs and industries.” (New Industries Fund)
About the Grant
The Innovation Booster Grant is designed to provide WA-based start-ups and small businesses with the financial boost needed to access professional skills, services or knowledge to advance local innovations, ideas, projects or commercial activities within the state.
The purpose of the grant is to:
- Help develop new or enhanced commercially ready products or services
- Establish a minimum viable product, prototype(s), processes, or systems that might attract additional investment and/or customers
- Address a particular technical problem that cannot be solved by the applicant, or for which the solution is not readily available
Innovation Booster Grants are awarded in any of the following four categories:
- Research and Development
- Product Development
- Technology Transfer and Intellectual Property
- Commercialisation Support Services
Applications for 2023
To find out more information on the grant, including 2023 application information and other funding opportunities click HERE
Start your business the Elevate way
When starting a business in Western Australia, it’s important to step off on the right foot.
With years of experience helping those in the start-up space, Elevate Accounting are well versed in helping start-ups businesses to set them up for success.
The team are experts in the tech start-up space and are active in the Perth start-up eco-system. Elevate Accounting understand the language and the unique challenges faced by tech businesses.
Elevate Accounting’s start-up advice includes:
- Business Model and Revenue Model design
- Cash Management and forecasting
- Investor Deck Preparation