New Industries Fund: Innovation Booster Grant

Assisting WA-based startups and small businesses commercialise their innovative ideas or projects, and to expand to create jobs.
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Applications for the 2023/24 Innovation Booster Grant have now opened and will remain open all year round on the Good Grants platform.

The Innovation Booster Grant (IBG) is a competitive Western Australian government grant, funded through the $25.8 million New Industries Fund which sits under the Department of Jobs, Tourism, Science and Innovation (JTSI). Prior to 2022, it was known as the ‘Innovation Vouchers Program’.

The Innovation Booster Grant (IBG) is a competitive funding grant, designed to provide WA-based startups and small businesses with the financial boost needed to access professional skills, services or knowledge, to advance their innovative idea, project or commercial activity in Western Australia.

The WA Government recognises that innovative startups and small businesses have great ideas, but taking these ideas and turning them into new and sustainable business opportunities with real commercial outcomes can be difficult.

The program is designed to assist innovators to overcome some of the barriers on the path to commercialisation. It aims to build new relationships between innovators, research providers and specialist commercialisation support services, or to move tentative collaborations into a productive relationship.

Cut-off dates:

Although the IBG program is open all year round, there are various ‘cut-off dates’ when the latest submissions will be downloaded, and then assessed.

Submitted applications cannot be changed after this date. If your application is not ready for assessment, simply continue working on it, without pressing ‘submit’.

The ‘cut-off dates’ for the 2023/24 financial year submissions are:

  • 11am (AWST), Thursday, 25 January 2024
  • 11am (AWST), Thursday, 4 April 2024

Further ‘cut-off dates’ will be announced for the 2024/25 financial year. 

Changes to the IBG

There have been a few changes to this year’s IBG which includes:

  1. Opening applications all year round, meaning applicants can apply when they are ready, have their matched funding and project in place. This will make the program more founder-friendly.
  2. Doubling the maximum grant amount to $40,000 to increase the impact of each grant.
  3. Allowing recipients to invoice for 75% of the grant upfront, rather than coming up with the money themselves upfront, and allowing them to claim the remaining 25% of it back afterwards. This improves cash flow for recipients.
  4. Allowing recipients to use internal resources to complete their project for some expenditure, rather than requiring them to use an external third-party service provider. Please see the Innovation Booster Application Guidelines for more details.

Purpose of the Grant

The purpose of the IBG is to assist WA-based founders and teams that are:

  • Developing or enhancing products or services that are commercially ready, or to reach a commercial ready stage;
  • Building a minimum viable product (MVP), one that could then be tested with trial or paying customers;
  • Developing prototypes, processes or systems that might attract additional investment and/or customers;
  • Buying-in specialist consultancy services to assist with IP, marketing or commercialisation support; and/or
  • Addressing a specific technical problem that the business cannot solve themselves, or for which the solution is not readily available.
  • Creating jobs, developing new industries and assisting in the diversification of the WA economy, as per the Diversify WA framework.

Please note:

  • If your project has previously raised significant capital, it is unlikely to be awarded an IBG. You have to argue why you NEED funding, and why the State Government should fund you.
  • Other grants are also available from JTSI, and other state government agencies, and from local and federal government, which can be used to commercialise innovative projects. These grants may be more appropriate.
  • For example, the Commercialisation Bridge Grant ($50,000 to $200,000) has been designed for companies ‘further along’ their innovation journey, (‘scale-ups’), that are looking to fund the next stage of their innovation.