Fast-tracking new startup growth in regional Victoria - LaunchVic

Fast-tracking new startup growth in regional Victoria


8 Jan 2021 by LaunchVic News

Last Updated: Friday, 8 January 2021

The Andrews Labor Government has announced almost $500,000 in funding to support the creation and growth of startups in regional Victoria.

Startup Shakeup led by Wangaratta Rural City Council and Runway Geelong will receive $246,000 and $250,000 respectively via startup agency LaunchVic to teach and mentor the next generation of local entrepreneurs.

Startup Shakeup will run masterclasses and “tech taster” workshops to inspire entrepreneurship. They will also establish a pre-accelerator program for 40 startup entrepreneurs to run over two years. Delivered by experts with regional knowledge, this program will help underpin the future growth and prosperity of Victoria’s North East.

Runway Geelong’s pre-accelerator program will provide the skills for 30 early-stage startup teams to develop their business model and minimum viable product. The startups will also have access to mentors and business coaches, co-working spaces and prototyping facilities. This funding will help to accelerate the number of startups being created across Victoria, reshaping our economy and creating jobs of the future.

The Victorian Startup Ecosystem Mapping report released late last year identified a growing network of almost 1,900 local startups employing almost 37,000 people in early 2020.

Research from Deloitte Access Economics has found the Victorian startup sector could contribute an additional 15,700 Victorian jobs a year over the next 20 years.

About LaunchVic

LaunchVic is Victoria’s startup agency.

Our role is to fuel the growth of Victoria’s startup ecosystem. We do this by building the confidence and capability of Victorians to create, scale and invest in startups.

We were established by the Victorian Government in 2016.