Impact Seed
Impact Seed’s ‘Impact2Innovate’ (I2I) program was initiated in 2016, offering social enterprises and impact ventures based in Western Australia assistance in enhancing capabilities and preparing for investment. In their 2022 program, Impact Seed selected three early-stage ideas to receive Lotterywest IdeaStarter funding, helping them to enhance their innovative capacity while guiding them through ideation, validation, and startup phases.
Impact
3 early-stage ideas were selected based on key criteria to receive funding that would support the growth of their idea. To be successful in recieveing funding, participants had to show a commitment to the process of developing their ideas and currently being in the ideation or validation stage.
A key early-stage idea who received funding was Loop Enterprises, including Loop Upcycling, an organisation transforming corporate textile waste into useful products and simultaneously generates employment opportunities for marginalized individuals. Overall, funding helped Loop develop their business resources directly into the operations of the business.