Launched on September 1, the 2023 Innovation & Ecosystem Report includes a snapshot in time of the Western Australian innovation and entrepreneurship ecosystem. It includes a summary of the trends, insights, and case studies of the initiatives building a thriving and resilient ecosystem of entrepreneurs, innovators and change-makers across our great state.
Created as part of Spacecubed's Innovative Society Initiative, supported by Lotterywest, this report aims to reveal and celebrate our ecosystem's progress in building a supportive environment and strong culture for innovation to thrive in WA.
There has been a rapid 6.5x increase in activity in our innovation and entrepreneurship ecosystem over the last 10 years. From early foundations laid by passionate groups such as Morning Startup and new ideas forming at 54-hour Startup Weekends to early accelerator programs driving tangible growth, the WA innovation ecosystem now represents a diverse array of empowering mechanisms for innovations, entrepreneurs and change-makers, including:
- 665 Verified startups operating in WA*
- 3,570+ Collaboration connections established across the ecosystem between people, organisations and government.
- $5.4b Estimated total valuation of startups operating in WA*
- 1,577 Unique organisations, startups and government agencies have participated in and supported innovation in WA since 2017.
- Females participation in innovation increased from 24% to 47% between 2017 and 2022.
*Data from Dealroom, August 2023
In addition to highlighting key insights available in the Innovative Society Index, and data available on the Dealroom Platform, this report serves as an opportunity to remind ourselves that collaboration, community and connection are how we drive progress forward, and there are still many opportunities for improvement.
Thank you to our 100+ Meshpoints Partners who have contributed their data and insight to help make this report possible. We look forward to building on this network and scaling the societal, economic and human impacts of our innovation ecosystem in Western Australia.
To access the full report, download the link here. To find out more about becoming a Meshpoints Partner, visit the website here.
