In 2021, I wrote about why corporate innovation is the key to driving ‘ecosystem thinking’ and how major West Australian organisations like Woodside and RAC BetterLabs are using corporate venturing to keep their products and services in touch with consumer demand. Now in 2022, we’ve been able to showcase the impact of these companies to get more players on board, across corporates, government and industry. This flywheel effect, that has proven successful and impactful in the past, is now serving as a catalyst of innovation for sector growth.
Spacecubed welcomed Capricorn Society and Visagio on board as Plus Eight program partners this year, creating a $500,000 pool of seed-funding for selected startups. From a sports science tech company specialising in isometric testing devices, to a med-tech startup that innovates
future-focused sexual health products and technologies, the 2022 accelerator cohort is one of our most comprehensive to date.
The cohort includes AGRA Farming Technologies, AntiBeauty, Arbela, Bobbleware Australia, Force Hooks, Three Little Pixels, Kinsey Global, OneBase, Paperly, and SportCentrAll.
“It is so exciting to be in our first year of the Plus Eight program.” Kim Radalj, Capricorn Society, General Manager, Innovation and Corporate Development shared. “I was really inspired by every founder we met at Bootcamp and their vision for how the world can be made better. I look forward to seeing the participants continuing to learn and grow their business by partnering with Plus Eight through the next phase.”
“Through RAC’s BetterLabs Ventures, we’re thrilled to continue supporting such talented and enterprising local startups via the Plus Eight Accelerator Program. The volume and ambition of Western Australian startups continues to grow and BetterLabs is privileged to help facilitate that
growth.” James Edwards, RAC General Manager Strategic Innovation shared.
He continued, “Each year we partner with the Plus Eight program, we are exposed to an amazing cohort of founder-led WA start-ups and this year is no different. The startups who have made it into the final phase of the program reflect the health of a growing and thriving WA innovation ecosystem that BetterLabs is very happy to play an important part in.”
“I’m excited about the quality and diversity of this year’s cohort. The Plus Eight Accelerator in 2021 was a really valuable experience for Woodside and we’re thrilled to be supporting the Western Australian start-up ecosystem again this year. We are a WA-headquartered company with activities across the world, and the Plus Eight cohort is full of businesses with similar ambitions.” Rob Affleck, Innovation Manager at Woodside added.
Alongside the Plus Eight accelerator program, the diversity in offerings for local startups and entrepreneurs is growing. Since the beginning of the year, we’ve had the City of Perth support Startup Weekend for the next three years, giving idea-stage entrepreneurs the opportunity to expand their ideas. The City of Canning continues to fund a pre-accelerator program for local innovators in the region, boosting economic impact in suburban areas. And recently announced the WA Landing Zone project, launching soon, to help attract investment and talent from Asia to create global WA-based businesses.
The Landing Zone project, powered by Spacecubed and funded by the City of Perth, will support startups and scaleup ventures from Asia to tap into the entrepreneurial support services located in Perth to grow their businesses and create jobs in WA. The three year funding and support, will allow the program to complement other international projects, and showcase to the world that we have the capacity and capability to run world-class programs.
“The goal of the Landing Zone project is to work alongside the McGowan Labor Government’s 2022-23 State Budget aiming to diversify WA and create a pipeline of new, job-creating businesses.” , General Manager at Spacecubed Chandra Sundareswaran shared. “By providing industry with the confidence to invest and grow their businesses in WA, the project will support the Government in delivering a sustainable, resilient and diverse economy that provides prosperity and ensures jobs for all Western Australians.”
The above listed projects, including Plus Eight Accelerator Program, Startup Weekend, City of Canning pre-accelerator, and Landing Zone, Spacecubed aims to support WA in building a strong economic diversification plan, and reduce reduce over-reliance on particular sectors, while also finding opportunities to drive growth in emerging sectors, and remaining competitive in the global market.
To find out more about the work Spacecubed is doing, and how you as an individual, business, or corporation can get involved, reach out to firstname.lastname@example.org today.