NOT-for-profit business advisory group Business Foundations has been selected to run the Innovation Centre WA, which is designed to assist the commercial potential of small to medium enterprises.
The Fremantle-based organisation won the Department of Commerce’s tender to run the centre, located at Technology Park in Bentley.
Business Foundations executive director Phil Kemp said the team being brought together at the ICWA had the contacts, expertise and experience to help innovators turn their ideas into commercially viable enterprises.
“People tend to think of start-ups as the smart guy making millions of dollars working from a computer in their garage,” Mr Kemp said.
“What is more common is a researcher, scientist or an industry expert – with a cutting-edge idea and absolutely no idea how to test the market – secure the intellectual property, commercialise the innovation and develop the network that will support the venture and find the commercial backing to make it a reality.”
The centre provides incubation space, meeting rooms, advisory services as well as information and networking events so that innovators and entrepreneurs can expand their knowledge and contacts.
“The innovation centre provides the ideal opportunity to expand WA’s service offering and we will be focusing on helping a variety of growing sectors, including mining services innovation, technology innovation, manufacturing innovation and new inventions,” Mr Kemp said.
“We plan to expand links between the US and the innovation community in WA, as the US represents about 27 per cent of foreign investment into Australia, and there is strong interest from areas like Silicon Valley in future investment.”
Science and Innovation Minister John Day said the government recognised that innovation was challenging and established the centre to provide support to innovators and entrepreneurs.
“Business Foundations will make it easier for these individuals and small-to-medium enterprises to access the information, skills and investment they need to develop their ideas into new products and services,” Mr Day said.
In 2011, the centre assisted more than 1,000 innovators at varying stages of commercialisation, many who had turned their ideas into viable businesses.
