As investment transitions away from the mining industry a number of tech accelerators and incubators have started popping up in Western Australia.
The latest is IT company Amcom, which announced it would launch a Perth-based innovation program in association with eGroup WA and tech hub Spacecubed.
The Amcom Upstart program will select eight startups and dish out $40,000 in seed capital as well as mentoring to each over a three month period from June 1.
By the end of the program it’s hoped the startups would’ve completed an MVP, developed a business model and acquired their first customers.
Tony Grist, Amcom chairman said: “Amcom Upstart is about supporting and growing the local startup ecosystem and encouraging more local entrepreneurs to take the plunge and bring their ideas to life”.
eGroup WA Secretary and Program Director, Robert Nathan, said corporate programs like this are needed on the west coast as they deliver much-needed seed capital.
“Whilst there has been increased investment activity in later stage technology companies via the ASX in the last 12 months, there has been very little investment activity in the startup sector in WA,” he said.
Last week advisory firm KPMG announced it would launch a Perth-based accelerator to promote innovation in the mining, energy and resources sector. The company’s Energise program will select eight startups and run for 12 weeks from April.
Recently, KPMG teamed up with Artesian Venture Partners to provide up to 1,000 Australian startups with new ways to expand their ideas.