Western Australia has the potential to become one of Australia's leading startup hubs, but industry experts say achieving that goal will require significant changes to the state's innovation ecosystem. Entrepreneurs, investors and technology leaders believe WA has strong foundations, particularly in mining, energy, agriculture and health technology, yet still faces challenges in attracting investment, retaining talent and scaling young companies.

Speaking about the future of the state's startup sector, experts argued that Western Australia can no longer rely solely on its traditional industries if it hopes to build a globally competitive innovation economy. Instead, they say the focus should shift toward creating an environment where founders can access funding, commercialise new technologies and grow businesses without relocating to larger eastern states.

One of the biggest challenges identified is access to venture capital. Many early-stage companies in WA struggle to secure the investment needed to develop products, hire staff and expand into new markets. As a result, founders often seek funding interstate or overseas, with some eventually relocating their businesses closer to major investors. Industry leaders argue that building a stronger local investment community would help promising startups remain in Western Australia while creating jobs and attracting further investment.

Access to skilled workers is another priority. Startup founders say recruiting experienced software engineers, artificial intelligence specialists, product designers and business development professionals remains difficult in Western Australia. Experts recommend stronger collaboration between universities, industry and government to develop local talent while attracting experienced professionals from interstate and overseas.

Commercialisation of research is also viewed as an area with considerable potential. Western Australian universities and research institutions produce world-class scientific and engineering research, but experts believe more support is needed to help researchers transform discoveries into successful commercial businesses. Improved partnerships between universities, industry and investors could accelerate the development of innovative products and services.

Another recurring theme is the importance of fostering a connected startup community. Successful innovation hubs typically provide founders with access to mentors, networking opportunities, accelerators and experienced entrepreneurs who can offer guidance during the early stages of business growth. Industry leaders say strengthening these connections would encourage knowledge sharing and improve the chances of startup success.

Government policy also plays an important role. Experts have called for targeted initiatives that encourage entrepreneurship, simplify access to grants and create procurement opportunities allowing startups to work with government agencies and major corporations. They argue that supportive policies can help reduce barriers for early-stage companies and encourage private investment.

Western Australia's strengths in mining technology, clean energy, defence, agriculture and space industries provide opportunities to develop globally competitive businesses. The state's strong resource sector has already driven innovation in mining technology, automation and remote operations, creating expertise that could be applied to broader technology markets.

Supporters of the sector emphasise that startup success is not measured solely by the number of new businesses created but by the ability to scale companies into sustainable employers capable of competing internationally. Building that capability requires long-term investment in education, infrastructure, capital and entrepreneurial culture.

Experts believe Western Australia is well positioned to become a stronger innovation centre if government, universities, investors and industry continue working together. While competition from Sydney, Melbourne and Brisbane remains strong, many believe WA has the opportunity to build a distinctive startup ecosystem focused on industries where it already has global expertise.