More recently, another initiative, the Seed Enterprise Investment Scheme (SEIS) has been launched, aimed at increasing investment in smaller, very early-stage companies. This government initiative encourages private investors to invest in early-stage businesses with the promise of various tax relief benefits.īecause many angel investors will not take the risk of investing in an early-stage company without the “cushion” of the EIS, it’s certainly worth determining whether your company is eligible for it. If you’re a medium-sized startup planning to raise a funding round, you may have already come across the Enterprise Investment Scheme (EIS). The Enterprise Investment Scheme: Basic Background Investors get generous breaks on income tax, capital gains tax, and inheritance tax if they invest in an EIS-qualified business, so this opens up a lot of opportunity for growing startups to raise extra funds.
It’s integral the McGowan Government continues to support exploration.In 10 seconds: The Enterprise Investment Scheme – or “EIS” – is a government initiative designed to encourage private investors to take a risk and invest in early-stage UK businesses. “Western Australia is a major employer of people in the mining industry, with more than 140,000 workers. “Exploring for these minerals and commodities ensures Western Australia stays at the forefront of mineral exploration. “Despite COVID-19, the mining industry has demonstrated its resilience in maintaining its role as the major contributor to Western Australia’s economy. For more information, visit: Ĭomments attributed to Mines and Petroleum Minister Bill Johnston:
The EAP program encourages exploration of petroleum and geothermal resources using existing State resources: including drill core, sidewall core and cuttings, and existing data.įor Round 23, $6.3 million was offered in co-funding drilling grants, this includes an additional $1.3 million from the McGowan Government’s WA Recovery Plan, and $261,000 for EAP projects throughout Western Australia.Īpplications for Round 24 close at 4pm Friday 27 August 2021. The competitive grants program offers refunds up to 50 per cent for innovative exploration drilling and EAP projects, capped at specific amounts.Īt the completion of Round 21 drilling across the 2020-21 financial year, 69 per cent of projects with EIS funding completed drilling, exceeding the historical average of 59 per cent.
The State Government today announced applications for Round 24 of the Exploration Incentive Scheme (EIS) co-funded drilling program and Series 2 of the co-funded Energy Analysis Project (EAP) program have opened. A third of previous successful applicants are searching for battery minerals.Exploration Incentive Scheme to offer $5.25 million in co-funding to WA projects.TENGRAPH A spatial enquiry and mapping system displaying the position of Western Australian mining tenements and petroleum titles in relation to other land information About.Petroleum and Geothermal Information (WAPIMS) Petroleum exploration database containing non-confidential data on wells, geophysical survey titles and other related exploration and production data.Safety Regulation System (SRS) Access to electronic lodgement of documents and data, including approvals, compliance, levy assessment, licensing and certification management.Environmental Assessment and Regulatory System (EARS) EARS Online allows online lodgement and tracking of Mineral and Petroleum Environmental Applications.Mineral exploration reports (WAMEX) Exploration reports and data for public download.Mineral Titles Online (MTO) Title details of mineral exploration and mining tenements throughout Western Australia About Access.Construct your own geological map and incorporate other mineral and petroleum exploration datasets including mines and mineral deposits, petroleum wells, active leases, and much more. Interactive geological map (GeoVIEW.WA) An interactive, GIS-based mapping system.