VICTORIA’S NEW $60M STARTUP INITIATIVE NOW OPEN FOR BUSINESS
From today startups and entrepreneurs in the Wyndham region will be able to apply for support from the Andrews Labor Government’s $60 million startup initiative, LaunchVic, with funding guidelines for round one now open.
The guidelines call for bright ideas from across the state that will create a more collaborative working environment, add diversity and creativity, generate global interest in Victoria and deliver positive economic returns for the startup community.
There will be funding available for all ideas, big and small, with the first small funding round to support initiatives or projects up to $100,000 and the first large funding round for sizable proposals above this amount.
All submissions will go through an application process that will include an assessment panel and the LaunchVic Board to filter out the best ideas with the most value-add for Victoria.
LaunchVic is the Labor Government’s election commitment to help accelerate startups, drive new ideas and encourage locally-grown businesses to stay, develop and create more jobs here in Victoria.
The entity is headed by Chief Executive Officer Dr Pradeep Philip, who will be supported by a board of industry experts.
Earlier this year the Minister for Small Business, Innovation and Trade, Philip Dalidakis, proudly announced the LaunchVic Board as the first of its type in the innovation sector with more women than men, at 54 per cent. The Board will be chaired by Australia Post’s Ahmed Fahour.
For more information on LaunchVic’s new funding guidelines visit www. launchvic.org.
Quotes attributable to Member for Werribee, Tim Pallas
“This is a great program to help early-stage businesses and entrepreneurs in the Wyndham region to grow their businesses and turn their bright ideas into a commercial reality.”
“The Labor Government is investing heavily in startups to ensure local businesses receive the support they need to grow and bring global companies to Victoria, driving high-skill jobs across the state.”
Minister for Small Business, Innovation and Trade, Philip Dalidakis
“We want Victoria to be the location of choice for startups worldwide and LaunchVic will make that happen.”
“Ideas are the future. We’ve doubled Victoria’s economic growth in a year, leaving others behind. This is about encouraging young companies and ideas to create jobs and industries that will support our state for decades to come.”