Round 3 Grant Funding Program Guidelines (Round Closed)
LaunchVic was established in 2016 by the Victorian Government to support the development and growth of the local startup ecosystem.
Since its establishment, LaunchVic has run two successful funding rounds, supporting 26 projects that will help grow the ecosystem and ensure the right startup infrastructure is in place for Victorian startups and startup entrepreneurs to grow their businesses.
LaunchVic has also reviewed its strategy to ensure the company is best placed to provide more support to stakeholders and address identified market failures that inhibit the growth of the startup ecosystem. In developing its forward strategy LaunchVic has identified key areas of focus that include: engaging the Victorian community in the startup ecosystem to address market failures; and positioning Victoria as a world-class internationally recognised startup ecosystem.
As a part of its revised strategy, LaunchVic will provide frequent funding opportunities, including grant rounds, for stakeholders to access funds to support programs that will grow the local startup community. Funding opportunities will address specific needs in the ecosystem, including increasing diversity and inclusion; and driving capability and excellence.
Round 3 Grant Funding Program: Overview & Objective
LaunchVic’s third funding round will focus on increasing diversity and inclusion, by supporting organisations to deliver programs that improve access and participation in the Victorian startup ecosystem for first generation migrants and refugees.
Migrants and refugees are recognised as important contributors to successful startup ecosystems. They are known to have high risk appetites, having chosen or been forced to start a new life in a new country – often with no capital, no credit history, no assets, and no security. The risk-taking that defines a migrant’s experience often continues to as they embark on entrepreneurial journeys to establish themselves. Migrant entrepreneurs have begun and lead some of the world’s most successful and innovative companies, and have been shown to be twice as likely to start businesses. For the purposes of this grant round, LaunchVic defines migrants as first generation migrants i.e. they were born overseas.
LaunchVic is specifically looking to invest in organisations that will deliver quality educational, acceleration, incubation, mentoring, or other programs that will support Victorian migrants and/or refugees to develop startup businesses.
LaunchVic defines startups as businesses with high impact potential, that use innovation and/or address scalable markets. LaunchVic funds programs that support startups and entrepreneurs who are seeking to launch a startup, these are referred to as ‘startup entrepreneurs’.
LaunchVic is seeking to invest between $50,000 and $500,000 per application for programs that run up to 2 years. Applications requesting more than $500,000 will be considered, but must be exceptional!
How to apply
Applications must be submitted through the new LaunchVic online application system. Applicants will need to provide information on their organisation, the project and address eligibility and key assessment criteria. You will also need to read and submit the declaration at the end of the application. You can download a preview of the online form via the online system before starting your submission. You will be required to register basic details via the SmartyGrants system before applying, click on the link here to get started.
Applications must be submitted via the LaunchVic online application system by the due date and time (5pm AEST Wednesday 5 July 2017). Applications will not be accepted after this date and will not be accepted outside of the LaunchVic online application system.
Applicants will need to address the eligibility criteria via the LaunchVic online application system. You must identify the type of organisation and project focus.
Type of Organisation
- The types of organisations that are eligible to apply for Round 3 grant funding include a:
- registered company/organisation headquartered in Victoria; or
- registered company/organisation with offices in Victoria; or
- registered company/organisation located outside of Victoria proposing a project to be delivered in Victoria; or
- unregistered company/organisation that agrees to setup a registered company in Victoria
Please note an organisation with an ABN is defined as 'registered'. Not-for-profits/social enterprises can apply. If you are unsure please contact the LaunchVic Grants Team.
- The project must primarily benefit Victorian migrants and/or refugees
- The project must also primarily benefit:
- existing startups; and/or
- entrepreneurs looking to launch a startup (startup entrepreneurs)
Note: Projects that support small or micro businesses are not eligible for LaunchVic funding.
Note: Any unsuccessful application submitted in Round 1 and Round 2 may be resubmitted in Round 3, however applicants must use the LaunchVic online application system and update the application as per the key assessment criteria to be assessed.
Applicants must outline the project details including: project title, project summary, project start and end dates and funding amount.
LaunchVic is specifically looking to invest in organisations that will deliver quality programs including:
- Pre-Accelerator Program – New or Current (Extension)
- Accelerator Program – New or Current (Extension)
- Incubator Program – New or Current (Extension)
- Educational Program
- Mentoring Program
- Events Program
Other program ideas can be submitted however LaunchVic is not seeking applications for co-working space fit-outs under this round.
Key Assessment Criteria
|1. Project Overview & Impact||Outline the proposed project and how it will deliver impact and benefits to first generation migrants and/or refugees in the Victorian startup ecosystem.|
|2. Organisation & Team||Tell us about the organisation and team members, including background information on the organisation and relevant experience in delivering and managing similar programs. Please include LinkedIn profile links and/or website links.|
|3. Measures of Success||Outline the measures of success and success metrics for the project. Provide figures on how many startup entrepreneurs and/or startups the program will support.|
We want to know how much experience you have engaging with:
You will need to outline:
|6. Sustainability||Details about the sustainability of the project beyond LaunchVic funding will be required.|
|7. Pitch Deck||
A project pitch deck will need to be uploaded with your application. This is an opportunity to succinctly tell the story of your proposed project and inject your personality. A PDF is required, maximum 15 pages.
For those that need some guidance, check out the Pollenizer Universal Pitch Deck, a starter kit for great pitches.
You may also include a video pitch online link with your application, up to 3 minutes, in addition to the pitch deck (not mandatory).
Assessment and selection
All applications will be assessed for eligibility and eligible applications will be evaluated against the Key Assessment Criteria by LaunchVic, and the outcomes will be determined by the LaunchVic board and their decision is final.
Applications must be submitted via the LaunchVic online application system by the specified deadline.
All applications are made at the applicants’ own cost and will not be reimbursed, whether the application is successful or unsuccessful.
Shortlisted applicants will be requested to pitch their project to LaunchVic and provide financial information regarding their organisation to enable due diligence to be undertaken upon request by LaunchVic.
Successful applicants will be required to enter into a contract with LaunchVic and provide project reporting and/or evidence of project progress to receive payments under agreed milestones. A copy LaunchVic’s standard contract is available via the LaunchVic online application system and required for viewing before completing the declaration.
The following provides guidance on the approximate timings for the Round 3 Grants Program. Please note that there may be updates to timings recorded via the LaunchVic website during the round.
Funding round open: Thursday 1 June 2017 Information session: 10am – 11am Wednesday 14 June 2017 (Location: Docklands).Completed Information session (online): Friday 23 June 2017 Funding round close: 5pm AEST Wednesday 5 July 2017 Shortlisted applicants pitch day: Tuesday 1 August 2017 Successful recipients announced: 21st August 2017
To register your interest in attending an Information Session, please email LaunchVic Grants Team with the email subject: LaunchVic Round 3 Grants - Information Session
If you have a question about the Round 3 Grants Program or require assistance, please contact the LaunchVic Grants Team