WA Investment Attraction Fund – New Energies Industries

Funding to support a diversified economy and create local employment.
Next round is expected to target critical minerals, green iron and steel, hydrogen and carbon capture and storage projects
Applications are expected to open late 2025. Enquire your interest with our team today to get ahead.

The Investment Attraction Fund (IAF) promotes critical investments in Western Australia across various industries, aiming to diversify the economy and generate local employment opportunities.

The New Energies Industries Funding Stream, within the IAF, actively contributes to the economic development of WA by focusing on key pillars such as diversification and decarbonisation. This fund specifically targets the acceleration of innovation in Western Australia, facilitating the scaling up of commercial potential and the expansion of local manufacturing capacity in emerging sectors like battery and critical minerals, renewable hydrogen, carbon capture and utilisation storage (CCUS), as well as solar and wind.

Key Requirements

This funding stream will support proposals in the sub-sectors of New Energies Industries.

Energy
Mining and mining equipment, technology and services
Defence industries
Space industries
Health and medical life sciences
Primary industries
International education
Tourism, events and creative industries

Invitations are extended to supply chain entities, project proponents, and ancillary service providers presently engaged in or contemplating expansion into New Energies Industries. This includes entities currently operational in Western Australia, seeking diversification into new industries, as well as international participants intending to initiate operations within the state.

The application involves two stages, each subject to specific assessment criteria.

EOI application

- Mandatory Criteria:
  - Priority sector(s) and targeted diversification opportunities
  - Co-investment
  - Economic benefits to the State
  - Operational criteria
  - Funding stream-specific criterion: Contribution to decarbonisation

Full application

- Mandatory Criteria:
  - Sustainable jobs growth
  - Additionality – explaining how the financial assistance of the proposal will benefit the State
  - Investment readiness
  - Contracting risk
- Desirable Criteria: Strong applications will also illustrate how the proposed project aligns with one or more of the desirable criteria fields, including skills attraction and development, co-contribution, and location.

What is eligible for funding?

The IAF supports activities such as:

Supply chain development,
Advanced manufacturing, and
Science, innovation and technology

The IAF offers financial assistance and investment facilitation support to businesses seeking to:

Establish and grow their operations in Western Australia,
Relocate company headquarters to Western Australia

What companies are eligible for funding?

To qualify for consideration, applicants must meet the following criteria:

Hold or be eligible for an Australian Business Number (ABN) registration
Represent a legally sound and solvent entity or be affiliated with such an entity, possessing a documented trading history for at least the past three financial years, as recognised in their respective domicile
- Financial statements covering the preceding three financial years are mandated to include the following components:
  - Income Statement
  - Statement of Financial Position
  - Statement of Cash Flows
  - Statement of Changes in Equity
  - notes to the Financial Statements (if applicable)
- Should an applicant be subsequently invited to advance to Stage 3 and submit a comprehensive application, audited financial statements become a prerequisite.

Demonstrate the capacity to furnish a comprehensive business plan, accompanied by substantiating evidence, attesting to the managerial, technical, and financial proficiency necessary for the successful execution of the proposed project.

Is this grant competitive or entitlement-based?

Competitive. Your application will be assessed among other applications by a judging panel.

How can I increase my chances of winning this grant?

By engaging an accredited government grants consultant, such as Avant Group.

Competitive grants often require significant business case development and project analysis to support the application, this may include detailed presentations supporting the project’s merit, projected sales, cost-benefit analysis and more.

As part of your engagement with Avant Group, your account manager will assess the required documents and will provide the following as needed to support your grant submission.

Grant application writeup including a detailed presentation illustrating how the grant funding will contribute to your project, how the funding will contribute to the project’s budget, a project milestone plan, delivery timeline, impact on employment if applicable and a breakdown of the management and leadership team for the project

Industry analysis presentation
Competitor Analysis Presentation
Marketing and Sales Analysis Presentation
3-5 year Cashflow Forecast
3-5 year Balance Sheet Forecast
Cost-Benefit Analysis of Grant Funding
End-to-end grant application including information collating, analysis and application writing
CAPEX (Capital Expenditure) cost-benefit analysis
Stakeholder relations and Risk Mitigation Plans
Any other relevant forecasting that will support your application

How can I get help with my application? Or know if I’m likely to win funding?

Avant Group offers a no-obligation assessment of your eligibility for funding and will assess your likelihood of a successful grant application.

This grant is open

Apply for this grant below:

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