Announced as part of the $100 million Investment Attraction and New Industries Fund (IANIF), the New Industries Fund (NIF) is a $16.7 million commitment over four years (2021-2025) that supports the acceleration of new and emerging businesses in Western Australia, through innovation, to diversify the economy and create new jobs and industries.
The NIF has expanded by $9.1 million to a total of $25.8 million to deliver targeted support for regional, female and Indigenous founders and businesses seeking to commercialise their products.
Western Australia is a diverse state, seen through our people, our land and our knowledge. Diversity is essential in innovation. Innovation needs all genders, young and mature, and people from all backgrounds and experiences.
We have committed to a range of initiatives to support and accelerate new and emerging businesses and encourage innovation to thrive.