Setting Victorian startups up for success
We’re boosting support for Victoria’s thriving startup ecosystem by funding 6 of Australia’s leading entrepreneurship programs. This will give local startups the best chance for success.
Through LaunchVic, more than $5 million in funding will support up to 165 early-stage startups.
Accelerator programs include:
These programs will share $4.1 million to give local startups:
- access to a network of industry experts
- tailored workshops and
- mentoring sessions with business leaders.
The Wade Institute of Entrepreneurship will receive $1 million in funding to help early-stage investors develop expertise in the critical areas of:
- due diligence
- capital raising and
- portfolio management.
This will build a stronger investor community to help unlock the growth potential of Victorian startups.
Programs will also connect startups to local and global funding opportunities, as well as financial support through collaboration with venture capital funds and angel investors.
This latest funding builds on the success of LaunchVic’s 15 accelerator programs which have supported over 600 startups, helping them secure more than $328 million in critical capital. To date 200 investors have participated in LaunchVic’s investor education programs - unlocking $84 million in startup investment.
Victoria is home to a thriving startup ecosystem, with over 3,500 startups, scaleups and unicorns with an estimated value of $130 billion employing around 67,000 people globally. About half of these jobs located in Victoria.