Funding To Flow For Early Stage Startup Creation

Last Updated: Wednesday, 11 March 2020

LaunchVic, Victoria’s startup agency, today announced a new round of funding for Pre-Accelerator programs in a bid to encourage startup creation.

Research commissioned by LaunchVic found that startup density relative to the population is below par in comparison to other global ecosystems. In Victoria there are approximately 300 startups per million people compared to best practice of more than 1,000 startups per million population.

Low startup density inhibits the future growth of the local startup ecosystem and impacts the ability of the Victorian ecosystem to compete globally, including attracting and retaining quality talent and capital.