WA Venture Capital Initiative: application information

Proposals from qualified VC firms who meet the below criteria will be accepted: 

1. Licences: Applicants must evidence its Australian Financial Services Licence and/or relevant licences to operate a VC Fund.
    
2. Capital requirements: Applicants must confirm its commitment to raising at least $2 of private sector investment for every $1 of Government commitment.
    
3. Western Australian presence and investment: Applicants must confirm its commitment to deploy at least 1.25x the WA Government's commitment in WA Companies, and to have a person in a senior investment role permanently reside in WA for the duration of the WA Government's investment in the VC Fund.
    
4. Experience of Applicants: Applicants must have relevant experience of operating VC Funds and investing in Startups and Scaleups.
    
5. Alignment to Diversify WA priority sectors: Applicants must confirm that its Proposal aligns with one or more of the Diversify WA priority sectors. 
    
6. VC Fund: Applicants must submit a Proposal for at least one VC Fund.

Important: 

• A completed RFP Questionnaire must be supplied. 
• Relevant evidence and/or supporting documents must also be provided as required.

• Register an account or login to the Tenders WA website to download the full RFP and all supporting documents. 
   
• Proposals must be prepared in English and submitted electronically by uploading file(s) in an approved format at www.tenders.wa.gov.au no later than the closing time of 12:30PM (AWST) on Friday, 27 September 2024. 
   
• Complete the RFP submission questionnaire and submit it online via your account on the Tenders WA website. 
   
• Each Assessment Criteria response should be no more than 4 A4 pages, not including attached supporting documents, with a minimum font size of 10.
   
• Guidelines to assist Applicants with registering on Tenders WA and lodging a Proposal electronically can be downloaded at www.tenders.wa.gov.au by following the links ‘Help’ > ‘Help Guides’ > ‘Business Help Guides’.

1. Eligibility criteria: The Applicant must meet all the Eligibility Criteria
2. Assessment criteria: Assessment against 4 weighted criteria
   1. Strategic alignment
   2. Commercial attractiveness
   3. Key personnel
   4. Implementation risk
3. Financial capacity: The State will satisfy itself that the Applicant has the financial capacity and capability to deliver the WA Venture Capital Initiative

Only electronic lodgements via  will be accepted. www.tenders.wa.gov.au

When uploading Proposal file(s) at Tenders WA, the Applicant must ensure that:

1. the lodgement is made in accordance with the Tenders WA Terms of Use;
2. the Applicant is registered on Tenders WA to submit a Proposal electronically;
3. the Proposal is lodged against the correct Request Number;
4. each file name is no more than 125 characters in length;
5. each file upload request is equal to or less than 100MB per upload request; and
6. each file is uploaded in one of the following Tenders WA Approved File Formats:
   1. Adobe Reader File (.pdf)^#
   2. Microsoft Excel File (.xls)*
   3. Microsoft Excel File (.xlsx)*
   4. Microsoft Excel File (.csv)*
   5. Microsoft PowerPoint File (.ppt)*
   6. Microsoft PowerPoint File (.pptx)*
   7. Microsoft Publisher File (.pub)*
   8. Microsoft Word File (.doc)*
   9. Microsoft Word File (.docx)*
   10. Image File (.jpeg)
   11. Image File (.jpg)
   12. Image File (.png)
   13. Media File (.mp4)
   14. Media File (.mpp)
   15. Rich Text Format File (.rtf)
   16. Text File (.txt)
   17. ZIP file (.zip)

# PDF Files must be Adobe compatible. *Microsoft files must be PC / Windows compatible. 

Contacts for enquiries relating to:

Contractual and routine enquiries:

Name: Vicki Starcevich

Title:    Manager, Procurement and Contracts          

E-mail: procurementJTSI@westernaustralia.com

Advice on using Tenders WA:

Name: Procurement Systems Support

Telephone: +61 (08) 6551 2020

The Applicant must not contact any other person within Government or any consultant engaged in relation to this Request to discuss this Request.

Tenders WA Terms of Use: 

The Tenders WA Terms of Use can be viewed at www.tenders.wa.gov.au.  

Strategic alignment (30%)

Ability of the VC Fund and its General Partner to deliver outcomes that align to priorities of the WA Government. 

Commercial attractiveness (25%)

Extent to which the Proposal delivers a compelling commercial offer to the WA Government. 

Key personnel (20%)

Capability, expertise and experience of the Key Personnel that will be involved in the VC Fund.

Implementation risk (25%)

Ability for the VC Fund to deliver on its investment mandate and overall proposition.