Cyber security, drones and naval defence shipbuilding will be the focus of a new funding round of the Liberal National Government's Industry Facilitation and Support Program (IFSP), which aims to help Western Australian businesses compete for major contracts.
Up to $25,000 in matched funding is now available for small, medium-sized businesses to improve their competitiveness and engagement in the Australian Government's $89 billion naval shipbuilding and maintenance program, and broader defence initiatives.
Commerce Minister Michael Mischin said the rapid rise of technological threats meant cyber-related defence was crucial to the continued safety of all Australians.
Mr Mischin said the dollar-for-dollar funding would help local businesses with continued planning, early engagement and profile raising, and boost their ability to take advantage of contract opportunities, which would in turn create thousands of new jobs for West Australians.
"The Australian Government's major investment in naval construction programs provides an opportunity for WA's defence industry to be involved in aspects of the market and supply chains," he said.
"Cyber defence is a growing international issue and, as a result, new funding is now available for cyber innovation initiatives.
"Also eligible for funding are projects related to defence-related drones - otherwise known as remotely operated platforms - which are used for security, inspections, emergency responses, mapping and surveying."
The Minister said the State Government was working closely with the Australian Industry and Defence Network Western Australia to promote the new IFSP defence industry sectors and naval build support round.