In July 2022, Spacecubed launched its Innovative Society Initiative, supported by Lotterywest, to create a pipeline of thriving resilient entrepreneurs, innovators and changemakers, and build a thriving, resilient and sustainable Western Australia innovation ecosystem.
The Innovative Society Initiative was established through a $5.9 million Lotterywest grant that was presented to Spacecubed by Innovation and Digital Economy Minister Stephen Dawson.
Just 12 months on, the Initiative has supported over $1,000,000 in local innovation projects from growing indigenous businesses in new industries and creating a diagnostic tool that measures entrepreneurial mindset in students, to supporting over 87 early-stage innovative ideas through incubator programs and implementing circular economy practices.
In addition, the Initiative has brought together over 80 individuals from industry, government, universities and not-for-profits through Meshpoints, a multi-stakeholder collaboration model. Through this model, 13 new sub-constellation projects have been created to tackle some of the industry's biggest challenges.
A key outcome from this Initiative is providing scholarships for local-WA innovators, entrepreneurs and change-makers to attend the Global Entrepreneurship Congress in Melbourne, this September. 24 fully-funded entry tickets were made available to this year's event, valued at $995 per ticket.
Examples of other funded projects include, but are not limited to:
IPS Foundation; a program designed to connect and grow Indigenous businesses in new industries.
The Fogarty Foundation; is an initiative to raise the entrepreneurial aspirations of 46,000 regional students in WA, and decrease the barriers facing regional educators in providing meaningful entrepreneurship education to their students.
Business Foundations Ltd; an initiative to create capability in the WA innovation ecosystem by investigating how to implement circular economy practices and reduce greenhouse gases within existing industrial estates.
Noongar Chamber of Commerce and Industry (NCCI); scoping work to create an Aboriginal Innovation Hub and development of a stronger understanding of the Aboriginal innovation ecosystem.
South West Angels; collaborative approach to designing a strategy and framework for (Angel) investment across regional WA.
St Hilda's Anglican School for Girls; the creation of a diagnostic tool that measures entrepreneurial mindset aimed at school students.