The Western Australian government’s flagship innovation funding program delivered an outsized economic return in its first round, according to two independent reviews, with another review to be finalised in early 2025 as its second round concludes.
The review will guide the state government’s decision on whether it will fund an additional round of the program as the $25.8 million second round of the New Industries Fund (NIF) concludes on June 30.
The NIF was set up in 2017, initially as a four-year program worth $16.7 million to support local startups and the innovation ecosystem, before a second four-year round was funded in 2021.
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