The Innovative Society Fund aims to create a pipeline of thriving resilient entrepreneurs, innovators and changemakers, as well as build a thriving, resilient and sustainable ecosystem in Western Australia. This mission continues with the Fund’s latest round totalling $224,140 across 5 projects. This brings the total amount granted in the first 6-months to over $650,000.
19 early-stage ideas will be progressed under the Lotterywest IdeaStarter funding stream through Curtin University’s program Accelerate, and Bloom’s programs, Orbit, Launchpad and Shine. These local incubator programs aim to build entrepreneurial skills, tools and mindsets as they work to cross the chasm between idea and market adoption.
The 10 ideas being worked on through the 2023 Curtin Accelerate program, will have access to $3,000 each, as well as a pool of $15,000 additional funding for expanding on ideation and validation. Bloom’s (St Catherine's College) Shine, Orbit and Launchpad programs, will support 9 total ideas, 3 that have existing momentum with $10,000 grants, and 4 who are still in a very early stage with $5,000 grants.
3 new initiatives have been funded under the Catalyst funding stream, as non-for-profit organisations aim to strengthen, progress and develop the innovation ecosystem in Western Australia. The approved funding initiatives are described below:
Impact Seed - $44,320.00, with an aim to make Environment Social Governance (ESG) and impact education for start-ups across WA more accessible and relevant through creating content/resources for all WA incubators/accelerators to use in their programs. This initiative came directly from a Meshpoints Sub-Constellation, which you can read more about here.
Business Foundations - $65,500.00, to create capability in the WA innovation ecosystem by investigating how to implement circular economy practices and reduce greenhouse gasses within existing industrial estates. Three organisations will work together to identify barriers, enablers and costs for SMEs to enact change.
Fogarty Foundation - $14,330.00, 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, by developing a scalable Career Taster experience for Year 9 and 10 students.
What’s next for the Innovative Society Fund?
Over the last six months since launching the Innovative Society Initiative, we’ve been able to successfully deliver over $661,000 in grants to early-stage ideas and impactful initiatives.
Through this process, we’re excited to announce some improvements to the Fund as we aim to:
Make the process easier for applicants,
Launch a new stream, Catalyst Inspire, with grants of up to $10,000 available for programs and events that attract new people to participate in the innovation and entrepreneurship ecosystem,
Encourage ‘out of the ordinary’ collaboration between ecosystem members; and
Ensure alignment of the strategic areas, identified by the ecosystem, through the formation of sub-constellations.
We look forward to working with you to create a more innovative society in WA.
The Innovative Society Fund is supported by Lotterywest, as part of a 3 year grant to Spacecubed to support the growth of individuals and ideas in WA, and to build a more diverse, resilient community and economy for WA, by creating a pipeline of thriving resilient entrepreneurs, innovators and changemakers, and building a thriving, resilient and sustainable Western Australia innovation ecosystem.