Regional New Industries Fund (RNIF)Overview
This program aims to catalyse Western Australia’s competitiveness by building entrepreneurial, innovation and commercialisation capabilities in the regions. It will support and accelerate new and growth orientated businesses to create sustainable regional economies that generate new jobs and industries.
The objectives of the program are to:
- Support business venture creation and SMEs to grow.
- Support transformation of mature industries and economic diversification.
- Develop business venture opportunities in international markets.
- Support Aboriginal business development.
- Promote co-investment opportunities between business, government and other organisations.
The RNIF will support the nine regions defined in the Regional Development Commissions Act 1993, namely:
- Great Southern
- Goldfields - Esperance
- Mid West
- South West
The Fund comprises of two allocations:
1. Regional stream
- Will seed local initiatives that build a communities innovation pipeline and to drive long term impact.
- Up to $300,000 is available to each region.
2. State network stream
- Will fund projects that increase connectivity and build capability across regions, the State and to international markets. In particular, the stream priorities initiatives that enable technology development, service innovation and market access.
- A minimum of $1.4 million is allocated for this stream.
Funding is available to projects that a have minimum value of at least $20,000 (excluding GST). Funded projects may span up to a maximum of four years, ending in the 2020-21 financial year and require a 1:1 ratio of matched contribution (cash and in-kind services) that has an appropriate cash flow.
A total funding pool of $4.5 million is available over four years.
Eligible applicants include any regionally based organisation that has a mandate for innovation and business development or interested individuals. This may include:
- Regional chambers of commerce and industry
- Business incubators and accelerators
- Industry and business bodies and representatives
- Local governments
- Small business centres
- Local Innovation champions
The Regional Development Commission will submit an application on behalf of the region. However, any regional stakeholder that has registered their interest and meets the criteria, can be considered as a project delivery lead. The following types of organisations would be considered eligible as a project delivery lead:
- Incubators, co-working spaces, or other innovation service providers
- Local Government Authorities
- Consortiums of private and public organisations
- Not-for-profit entities
- Publicly funded research organisations
Please refer to the Guidelines for the complete eligibility requirements.
Eligible initiatives include, but are not limited to:
- Cluster development /co-operatives
- Incubator/accelerator programs
- Industry value chain analysis/business linkages
- Export and trade initiatives
- Smart specialisation/R&D partnerships
- Entrepreneurial events (pitches, showcases, hackathons)
- Innovation programs (entrepreneur in residence, expert in residence, fellowships commercialisation programs)
- Economic gardening/business development programs that focus on scaling-up existing established businesses
- Inclusive/disadvantaged programs/projects
- Business environment reform
The State government’s four pillars, which are recognised as essential foundations for success of new industry development, include:
- Pillar 1: Talent, Skills and Entrepreneurship
- Pillar 2: Investment and Infrastructure
- Pillar 3: Culture and Collaboration
- Pillar 4: Marketing and Promotion
The main assessment criteria include:
- Impact (50%)
- Collaboration (20%)
- Value for money (30%)
Please refer to the Guidelines for the complete list of the assessment criteria.
The following are ineligible for funding:
- Capital works and/or physical infrastructure including any buildings
- Tenancy, including rental or lease of floor space
- Consultation or publication services
A delivery lead cannot be:
- An individual, partnership or trust (however, an incorporated trustee may apply on behalf of a trust).
- A Commonwealth or State government agency or body (including government business enterprises).