THE FULL RETURN

Investing in WA Innovation

The Full Return is a storytelling project that showcases the returns on backing innovation in WA. The aim is simple: put credible, evidence-based stories in front of the next generation of investors.

- Season 1
• 30/8/25
Agworld: The Patient Path to a A$100M+ Exit

Strengthen and stabilize your core with this dynamic flow that blends mindful movement and breath. Ideal for building inner strength, balance, and body awareness without high intensity.
30/8/25

Subcon International: From an A$8.4M Sale to a A$1.1B Deal

Perth subsea engineering company Subcon sold to MMA Offshore in 2022 for A$8.4 million, taking half the consideration in shares. Two years later, MMA was acquired by Cyan Renewables for A$1.1 billion at a 36% premium — a story about what happens after the exit.
30/8/25

OncoRes Medical: Building Value Before the Exit

Around one in five breast-conserving surgery patients needs a second operation because surgeons can't confirm all the cancer is gone. OncoRes, spun out of UWA research, is developing Elora to help solve that in real time — and investors are backing it milestone by milestone, well ahead of any exit.
- Season 1
• 30/8/25
WaveX: Taking Wave Energy from the Tank to the Ocean

WaveX's patented D-Spar™ technology converts deep-ocean waves into electricity. Backed by more than A$2.5 million in non-dilutive funding and a completed seed raise, the Perth company is heading for a large-scale pilot in Albany — showing how grants, research partners and private investors each play their part in getting climate tech to market.