The WA State Government has announced a new program – ‘X-TEND WA’ – that aims to encourage entrepreneurial and investor education. Grants of up to $100K are on offer for relevant incubators, programs, mentors and ‘educational forums’…
In an interesting and novel move, the state government has announced a new type of support program to encourage the education of entrepreneurs and investors in WA.
Applications for the money – which comes from the $16.7M New Industries Fund – close on Tuesday 23rd April at 11am.
An Information Session about X-TEND WA is being held on Weds 3rd April 4.15-5.15pm at the Department of JTSI, 1 Adelaide Terrace.
While there are many programs that aim to educate startup entrepreneurs, there are not many that look at the other side of the equation – educating investors about startups.
Perth Angels have been running their master classes for a while now, but who else?
Few would disagree that there is “plenty of money in Perth” (a recent corporate finance report from Business News showed there had been $9.4B invested into WA companies in 2018), however very little of it seems to make its way to the early stage tech sector.
Techboard reported that, of this $9.4B, only $28M had been invested into tech startups. Or 0.3%.
Perhaps it’s time to educate the investors of the rewards and opportunities of investing in early stage scalable tech businesses in WA? How should they be valued? What makes a good deal? How is it different to investing in mines, ASX companies and commercial property (where most of WA’s business investment seems to go)?
Well, it’s now time to see who can step up. The WA government is putting some money behind it, and time is tight to get applications in.
“Proposed programs must be delivered in WA and contribute towards the growth of the innovation community. Applications that strengthen innovation ecosystem collaboration and improve access to, or participation in, the Western Australian innovation community are encouraged.”New Industries website
For more information, visit the New Industries website and attend the info session next week.