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Victoria’s Startup Ecosystem Gets A $6.5 Million Boost

28 August 2016

The Andrews Labor Government is accelerating Victoria’s startup community and helping create the jobs of the future with a $6.5 million funding boost from the State’s new $60 million startup initiative LaunchVic.

Minister for Small Business, Innovation and Trade Philip Dalidakis and LaunchVic Chair Ahmed Fahour today announced 18 projects that will share in the first round of funding.

Project highlights include:

  • World-renowned Startupbootcamp will come to Melbourne in 2017, attracting Asia-Pacific’s best Internet of Things and data tech startups to the city
  • Social Traders will deliver a pipeline of accelerator-ready social enterprise ideas focused on creating employment opportunities for people facing barriers to work
  • A boost for the popular Lemonade Stand startup program for kids aged 9-12, which will help expand it into schools and online
  • A major startup hub to establish in Geelong as a global centre for innovation and entrepreneurship, as well as create a cyber security incubator at Deakin University’s Waurn Ponds campus
  • La Trobe University, in a partnership with Deakin University and Federation University will establish an accelerator program to unlock innovation across regional Victoria

The projects range from large grants for startup hubs, incubators and accelerators, to smaller grants enabling established organisations to increase their scale, reach and impact.

The Labor Government has fulfilled its election commitment by creating LaunchVic to accelerate startups, drive new ideas and create jobs in Victoria.

A full list of grant recipients can be found at www.launchvic.orgExternal Link

Applications for the second round of funding will open next month, opening the door for even more great ideas to receive funding and realise their potential as part of Victoria’s thriving startup ecosystem.

Quotes attributable to Minister for Small Business, Innovation and Trade Philip Dalidakis

“We want Victoria to be the location of choice for startups across the Asia Pacific Region and LaunchVic is making it happen. These projects will help young companies and ideas develop to create jobs and industries that will support Victoria for decades to come.”

“Victoria is leading the country in startup and small business growth, with around 8,000 new businesses created in the last year alone, and we need to ensure the right support is in place to help them thrive. The Andrews Labor Government is investing heavily in Victoria’s startup and tech sectors – the future of job creation in Victoria.”

Quotes attributable to LaunchVic Chair Ahmed Fahour

“LaunchVic’s first round of funding celebrates the fact that entrepreneurship comes in many shapes and sizes – there is no one ‘face’ that represents the startup ecosystem in Victoria.”

“We will continue to work to enhance competition, collaboration and quality in the ecosystem, not duplicate what others do.”

Reviewed 19 August 2020

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