The Western Australian government has launched an Indigenous Angel Investor and Entrepreneur Program for Indigenous business owners, entrepreneurs and innovators.
The government is supporting the Perth Angels and Minderoo Foundations’ Generation One with $10,000 from its $16.7 million New Industries Fund to run a pilot progam, with a view to role it out nationally in 2021.
Innovation and ICT Minister Dave Kelly said the program aims to improve knowledge, networks and opportunities for Indigenous Australians to enter the world of angel investing.
Kelly said: “I am particularly excited about this new and unique way to empower Indigenous entrepreneurs and investors, which could provide extraordinary social and economic returns for Western Australia.”
The partnership between Perth Angels and the Minderoo Foundation (Generation One) for the Indigenous Angel program will support the next generation of indigenous entrepreneurs grow more Indigenous businesses and help diversify the Western Australian economy, he said.
It is a dedicated program for Indigenous entrepreneurs, leaders and business owners, it will provide world-class education to empower Indigenous professionals to become more involved in early-stage business, innovation and technology.
The program also aims to remove barriers and open up investment opportunities for Indigenous entrepreneurs and investors.
Applications for the program open on October 15, and close on October 29, 2020.
Australia’s first accelerator program – Ideas2Business (I2B), created Food Futures Company – specifically designed for start-ups operating in the native ag+food sector is currently underway, with 12 early stage native food and agriculture businesses across Australia.