In the 2014 election, the Victorian Government made the commitment to establish a new startup entity that would support entrepreneurs to develop and grow businesses.

The Minister for Small Business, Innovation and Trade, Philip Dalidakis announced the creation of LaunchVic to be an independent company that will accelerate startups, drive new ideas and create jobs in Victoria.

Established to sit at arm's length from the government to avoid funds being caught in red-tape, LaunchVic will have access to $60 million over the next 4 years, with the first round of applications closing on the 6th of May 2016.

LaunchVic will work in partnership with entrepreneurs, industries, businesses, the community and the educational institutions to strengthen Victoria's entrepreneurial and startup ecosystem.

During the next four years, LaunchVic will focus on a comprehensive program, including:

Support - Expanding the capacity of accelerators and infrastructure in Victoria.

Mentoring - Entrepreneur mentoring, scholarships and corporate placement programs.

Access - Helping entrepreneurs find ways to better navigate the system.

Visibility - Events and marketing campaigns to profile Victoria's startups locally, and ecosystem internationally.

Overseas Talent - Attracting high profile entrepreneurs and global thought leaders to Victoria.

Government Policy - Advocacy around Commonwealth legislation and regulation affecting startups and entrepreneurial enterprises.

Proposals for funding should address the following key criteria:

  1. Value-add to Victoria's acceleration, incubation and co-working capabilities.
  2. Programs that are ambitious, creative and have a global orientation that will deliver maximum impact and support for Victorian entrepreneurs and startups/scaleups.
  3. Strengthen ecosystem collaboration and diversity, including gender, cultural and economic.
  4. Credible financial projections.

Proposals should also articulate what the funding will be used for and how it satisfies the above criteria and program objectives.

For more information on guidelines and applications, please visit www.launchvic.org

If you believe your operations/business fits the funding criteria you can contact our office for help with the application process, we will also keep you updated when new lots of funding opens up with LaunchVic