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Investment Ready Program
Investment Ready Program - Innovation Centre WA
As part of the State Government's commitment to fostering innovation and entrepreneurship, the Investment Ready Program (IRP) is an integrated development package to assist start-up firms in successfully establishing operations and enable existing firms to develop to a position suitable for private equity investment.
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Investment Ready Program Overview
IRP targets firms in the process of commercialising a new product or service. Preference will be given to companies in the following industry sectors: Information and Communications Technologies, Biotechnology, Marine and Defence, and Renewable Energy.
Applications will be assessed and short listed; firms will then undergo an initial diagnostic to provide a snapshot of the management expertise, intellectual property and quality of the market opportunity. The diagnostic will be conducted by commercialisation professionals at no cost to short listed candidates. Firms undergoing the diagnostic will receive a copy of the report on their company.
Skills Development Module
Focused on providing commercialisation skills, this Module includes sponsorship into the Innovation Excellence Program at UWA which has interactive workshops covering topics such as:
- Strategic management of innovation;
- Intellectual property management;
- Assessing the market and new product development;
- Successful product development and managing commercialisation risk;
- Venture financing; and
- Developing, stress testing and implementing the business plan.
Each firm participating in this Module will be assigned an experienced mentor to assist in implementing the ideas developed in the Program.
National and Global Development Module
Provide assistance, introductions and customised itineraries to allow approved IRP participants to travel within Australia and overseas for trade shows, conferences and other business-related purposes.
Round 2 of the Program is planned to open shortly.
