Up to $100,000 grant funding to support new WA venture funds

The WA Venture Support pilot program will provide $100,000/annum for three years, to each for three selected venture funds, to attract investment in WA-owned and operated early stage ventures.

The Venture Support pilot program aims to support:

• New early stage venture funds to headquarter or establish an office in WA and invest in WA owned and operated early stage innovative companies, and/or

• Existing Australian early stage venture funds that physically locate in employee / representative in WA for the first time, focussed on investing in WA-owned and operated early stage innovative companies

The program offers successful applicants a total of $300,000 per year over three years, towards the venture funds ongoing operational costs.

Applications must meet the following criteria to be eligible:

• Have an ABN and/or an ACN

• Be one of the following:

  • a registered Early Stage Venture Capital Limited Partnership (ESVCLP) or similar entity set up for the first time and headquartered in WA, OR

  • Have the intent to set up such a venture fund, or be in the process of doing so, with the expectation of being operational during the FY2023 financial year, OR

  • Be an established venture fund that is located in Australia, and will palce an employee in WA for the first time

• Be a valid legal entity that can enter into a funding agreement with teh WA Government

• Be a solvent, Australian based, non-government fund

Information on the eligibility of applicants, and evaluation criteria can be found here.

Applications close at 11am (AWST) on Wednesday 9 November 2022. More information and links to the online application form can be found here.