Further funds encourage business innovation

• Vouchers provide firms access to financial boost of up to $20,000

• Funds help turn innovative ideas into new business opportunities

• Innovation crucial to WA's economic development

Science and Innovation Minister John Day today launched the WA Innovation Vouchers Program, to encourage industry-led innovation in Western Australia. 

Mr Day said eligible WA-based small to medium-sized enterprises (SMEs) would be able to get funding up to $20,000 to enable direct access to the innovation community.

"The State Government recognises that SMEs have a strong capacity to generate great ideas but taking these ideas and turning them into new and sustainable business opportunities can sometimes be difficult," he said.

"The Innovation Vouchers Program is designed to assist SMEs to overcome these barriers with a financial boost that can be used towards engaging professional skills or services to help turn an idea into a commercial reality."

The Minister said innovation was crucial to the State's economic development and the vouchers would help to encourage innovation to flourish. 

"This is the first time a program of this kind has been offered in WA, and I believe it demonstrates the Liberal-National Government's commitment and keen desire to encourage a forward momentum in this key area of growth based on small business," he said. 

      Fact File

• The Innovation Vouchers Program is administered by the Department of Commerce under the Western Australian Innovation Development Schemes

• First round applications open today and close on December 2, 2011

• Second round applications open in February 2012

• For more information or to apply, visit http://www.innovation.wa.gov.au

Minister's office - 9213 6600