This program aims to build a startup ecosystem that can strengthen the economy, encourage more people to work with and for startups, and represent all Victorians. Its focus lies in the areas of funding, community building and global recognition for the Victorian startup ecosystem.
Rather than funding startups directly, LaunchVic rounds target startup sector specialists who can deliver programs and support to Victorian startups in the form of education, incubators, accelerators, mentoring, professional development and other programs.
The current funding opportunities are:
1. Round 9 – Expert-in-Residences (EIRs) for Coworking Spaces
- This funding opportunity is specifically targeted at supporting LaunchVic to position Victoria as an internationally recognised startup ecosystem through enhancing capability and excellence in the Victorian startup community.
- Grants of up to $25,000 are available. Applications requesting more than $25,000 will be considered but the Expert-in-Residence must be high calibre.
- Application opened 3 August 2018 and closed 28 February 2019, 5pm.
2. Round 10 – Supporting Further Growth
- Focuses on capturing new ideas and initiatives to support the development of startup founders and entrepreneurs in the Victorian startup ecosystem.
- Grants of up to $250,000 are available.
- The application is a two-stage process:
a) Stage 1: Expressions of interest opened 7 February 2019 and closed 21 March 2019, 10am
b) Stage 2: Shortlisted applicants' project plan, pitch presentation and financial reports must be submitted by 30 April 2019. Pitch Day is on 7 May 2019.
A total funding pool of $60 million is available.
As announced in the 2019-20 Victorian State Budget, the Government has commited an additional funding of $10 million for LaunchVic to continue supporting local startups for another 12 months. It forms part of the newly created $150 million Victorian Jobs and Investment Fund.
Eligible applicants include:
1. Round 9
- Organisations that must be an established startup coworking space located in Victoria. Applicants must identify their type of organisation, EIR credentials and the program focus. The proposed EIR must be either of the following:
a) Have founded and scaled a startup.
b) Have a strong experience as a Startup Executive (CEO, CTO, CMO, COO etc) at a technology-based company.
c) Be a recognised international startup ecosystem leader.
2. Round 10
- An established company that has been operating for at least one year (include date of registration) with a delivery team that has expertise delivering similar programs to startups or startup entrepreneurs and must be a registered company/organisation that:
a) Is headquartered in the State of Victoria, Australia.
b) Has an office in the State of Victoria, Australia.
c) Is located outside the State of Victoria, Australia proposing a project to be delivered in the State of Victoria.
Please refer to the individual Guidelines for the complete eligibility requirements of each funding opportunity.
Eligible activities include those that:
- Increase diversity and inclusion so that as many Victorians as possible can engage in startup activity.
- Enhance founder and investor capability and excellence.
- Leverages the State's key strengths, such as health and wellbeing, so that we can position the State as an internationally recognised startup ecosystem.
Please refer to the individual Guidelines for the specific eligible activities of each funding opportunity.
The main assessment criteria include:
1. Round 9
- Coworking space details
- EIR details and experience
- EIR program overview & impact
- Ecosystem support
- Measures of success
- Funding & budget
2. Round 10
- Market need
Please refer to the individual Guidelines for the complete list of the assessment criteria of each funding opportunity.
- Research & Development
- Business Support
|Sample Grant Agreement||2018-08-07||Download|
|Guidelines - Supporting Further Growth||2019-02-15||Download|
|FAQs - Supporting Further Growth||2019-02-15||Download|
|Sample Funding Agreement - Supporting Further Growth||2019-02-15||Download|
Use these documents as a guide only - always get the latest direct from the Administrator