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CAPITAL PLAN: Silicon Valley Bank Capital Funds managing partner Aaron Gershenberg and former Twitter vice president of product Othman Laraki joined Bill Tai and Larry Lopez for the OzApp awards earlier this year. Photo: Bohdan Warchomij

Innovative start-ups helped less

ONE of the most influential members of Western Australia’s entrepreneurial community maintains government still has a role to play in supporting the innovation sector, despite the state government’s recent decision to cut funding.

Budget papers published last month reveal the Department of Commerce’s allocation for innovation and technology spending will be cut by 70 per cent – from $33.7 million in 2013-14 to only $9.6 million in 2014-15.

The department is responsible for a range of funding programs and incentives for innovation and technology development.

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