The Western Australian government has followed other states in offering to tip into private venture capital funds if they back homegrown startups and establish a local presence.
The state this week called for investment proposals and wants to make a commitment to fund by the end of the year.
Firms vying for the yet to be disclosed state investment in their funds will need to match the government two-to-one with private investment and spend at least 1.25 times the government contribution on local startups.
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