LaunchVic Announces $4.9 Million For Victorian Startups

GrowthSeven projects have been announced as recipients of LaunchVic’s second round of funding, worth $4.9 million. Together with matched funding and in-kind support, the investment totals more than $11 million for Victoria’s startup ecosystem.

Recipients include the Melbourne-based social enterprise Seeva Plus Inc, which focuses on innovation in the disability, aged care and primary health sectors. It received $500,000 and will create an incubation program and an innovation hub that supports startups and entrepreneurs to drive change within the disability sector.

“Again, the Victorian Government and Minister Dalidakis have been successful in their focus of diversity with the announcement of the recipients of today’s grants to the start-up ecosystem in Victoria,” says Inspiring Rare Birds Founder and CEO Jo Burston.

“With our new CEO, Kate Cornick, I anticipate incredible traction in 2017 for all LaunchVic stakeholders and especially the recipients today,” she says.

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LaunchVic has a funding pool of $60 million and is an initiative from the Victorian Government. It was formed to invest in the infrastructure of the ecosystem to support startups and entrepreneurs.

“These are the programs that will help young companies and ideas develop to create jobs and industries that will support our state for decades to come,” said Minister for Small Business, Innovation and Trade Philip Dalidakis.

Three hundred applications have been received by LaunchVic. Round one resulted in $6.5 million being invested and more grants and programs of work are expected to be announced over the next three years.

“LaunchVic works together with the entrepreneurial sector to drive solutions that will transition startups to future businesses. We will invest and partner in ideas, expertise and infrastructure to grow vVictoria’s thriving startup ecosystem,” says Kate Cornick.


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