Round X Guidelines
Overview & Objective
LaunchVic’s tenth funding grant round focuses on capturing new ideas and initiatives to support the development of startup founders and entrepreneurs in the Victorian startup ecosystem. Unlike LaunchVic’s recent grant rounds, this round is ‘open’ meaning there is no specific focus. However we are requesting applications that align with our strategy, which is available online here. We want to hear from you about what you think the Victorian startup ecosystem needs to support further growth.
Applications seeking funding for meetups, events, hackathons, educational courses, mentoring, bootcamps, incubator programs, accelerator programs will be accepted. Other programs outside of this list will also be considered but check the eligibility criteria.
Your program needs to focus on one or more of LaunchVic’s strategic focus area streams:
Diversity and inclusion to increase community engagement in the startup ecosystem. This stream focuses on more founders to start their own businesses. The stream also aims to support diverse and under represented groups and drive interest in entrepreneurship across all of Victoria.
Capability and excellence to establish Victoria as an internationally recognised startup ecosystem by enhancing founder capabilities and excellence. Activities in this stream focus on ensuring founders and investors have the skills to support the scaling of their businesses.
Leveraging key strengths to establish the State as an internationally recognised startup ecosystem by leveraging Victoria’s existing strengths in health & wellbeing and sports. This stream focuses Victoria’s key (existing) strengths that can be leveraged in positioning the local startup ecosystem as a global leader.
Channel Development to communicate the strengths of the startup ecosystem, locally and internationally. Programs of work will help increase awareness of the Victorian startup community, facilitate engagement within the startup ecosystem, support the generation of content and promote the Victorian startup ecosystem internationally.
The Grant Round will be a two stage process:
Stage 1: Expression of Interest (EOI) Application
Stage 2: Pitch Day & Project Plan
LaunchVic is seeking to invest up to $250,000 per application.
Applicants will need to demonstrate experience working with and delivering similar programs for startups and/or startup entrepreneurs or investors (if applicable).
LaunchVic defines startups as businesses with high impact potential, that use innovation and/or address scalable markets.
LaunchVic defines startup entrepreneurs as individuals who are seeking to launch a business (startup) with high impact potential, that will use innovation and/or address scalable markets.
Applications must be submitted via LaunchVic online application system by the due date and time 10am 21 March 2019. Applications will not be accepted after this time and will not be accepted outside of the LaunchVic online application system. Any unsuccessful application previously submitted to LaunchVic may be resubmitted in Round X however applicants must use the LaunchVic online application system and update the application to address the Eligibility and Key Assessment Criteria. Applicants will need to address the following eligibility criteria via the LaunchVic online application system:
1. Type of Organisation The types of organisations that are eligible to apply include a:
- registered company/organisation headquartered in the State of Victoria, Australia; or
- registered company/organisation with an office in the State of Victoria, Australia; or
- registered company/organisation located outside the State of Victoria, Australia proposing a project to be delivered in the State of Victoria.
Please note an organisation with an Australian Business Number (ABN) is defined as ‘registered’. Not-for-profit organisations can apply. If you are unsure about your eligibility please contact the LaunchVic Grants Team
2. Applicant Experience
Applicants that are eligible include an established company that has been operating for at least 1 year (include date of registration) with a delivery team that has expertise delivering similar programs to startups or startup entrepreneurs.
3. Grant Amount
Applications requesting more than $250,000 are not be eligible.
4. Program Focus
The program must support Victorian startups and/or startup entrepreneurs over the age of 18.
Programs can also support Victorian investors under Capability & Excellence
Applications seeking sponsorship for conferences and summits are not eligible.
Applicants must provide details on the company including: Company/Organisation Name; ABN; Company Address; Primary and Secondary Contact Details; Website; and Social Media details via the online application form
Applicants must select the type of activities (program) proposed from the list below via the online form. If there are multiple activities included in the program more than one category can be selected:
- Educational Program
- Mentoring Program
- Incubator Program
- Accelerator Program
- Program for Investors
- Other Program
Applicants must select the the LaunchVic strategic stream the program focuses on as outlined under the Overview & Objective. If your program focuses on more than one stream select both streams via the online form.
- Diversity & Inclusion
- Capability & Excellence
- Leveraging Key Strengths
- Channel Development
Applicants must outline the Project Details via the online application form including:
- Project title
- Project summary (for marketing purposes - 100 words max)
- Project start and end date
- Funding amount requested
- Applicant Contributions - cash and/or in-kind (mandatory)
- Partner Contributions - cash and/or in-kind (not mandatory)
Key Assessment Criteria
Applicants are required to address the following Key Assessment Criteria via the LaunchVic online application system. A preview of the online form can be downloaded via the application system before starting a submission.
Provide an overview of your proposed program, the activities that will be undertaken, length of program and the impact and benefit for the Victorian startup ecosystem.
Outline why LaunchVic funding is required.
Up to 500 words
2. Market Need
Outline the target audience and the need for the program.
Providing evidence (ie research reports, survey results) that support your statements will be viewed favourably.
Updated on 13 February 2019
Up to 300 words
Outline how many startups and/or startup entrepreneurs (or investors if applicable ) the program will support for each activity.
Up to 200 words
Outline the applicant’s (organisation) background including length of operation and relevant experience managing and delivering similar programs.
List the delivering team members and their relevant experience in delivering similar programs to startups and/or startup entrepreneurs.
Up to 500 words
Outline the income and expenditure for the Project (exclusive of GST). Applicants need to identify additional funding contributions (applicant and/or partner contributions) as either cash or in-kind.
Assessment and Selection
Applications must be submitted via the LaunchVic online application system by the specified deadline. All applications will be assessed for eligibility by LaunchVic. Applications that do not meet the eligibility criteria will not be assessed.
Eligible applications will be evaluated against the Key Assessment Criteria by an “Assessment Panel” (comprising at least two LaunchVic staff and one representative from the Victorian Department of Economic Development, Jobs, Transport and Resources) and a sub-committee of the LaunchVic Board, the “Grants and Funding Committee” (comprising at least two Board Members). LaunchVic may appoint external members from the startup community to assess applications.
Shortlisted EOI applicants will be invited to Stage 2 of the application process which includes the delivery of a Project Plan, Pitch and Financial Reports.
Project Plan: shortlisted applicants will be required to complete a project plan via SmartyGrants that includes (but not limited to): Project scope, delivery timeline and key personnel/resourcing.
Pitch: The delivery of a 5-minute pitch to the Assessment Panel, Members of the LaunchVic Board and representatives from the startup community at a pitch day to be held during the day on 7 May 2019. The pitch will be followed by Q&A. If you are unable to attend the pitch day, you may send a representative. If there is no representation from the applicant, the application may be rejected. Applicants will have the opportunity to supply a pitch deck (10 pages max), a pitch deck is not mandatory.
Financial Reports: shortlisted applicants will undergo due diligence by the Victorian Department of Jobs, Precincts and Regions (or approved third parties), who will conduct a Financial Risk Assessment. Financial reports including (but not limited to) profit and loss statements, balance sheets and cash flows will be required. Information provided will be kept strictly confidential.
Applicants may be required to provide additional information as part of the application process.
Funding outcomes are ultimately determined by the LaunchVic Board and their decision is final. This may include a recommendation to negotiate program outcomes with applicants. LaunchVic may enter negotiations with shortlisted applicants to refine project proposals.
All applications are made at the applicants’ own cost and will not be reimbursed, whether the application is successful or unsuccessful.
Successful applicants will be required to enter a legal contract (Grant Agreement) with LaunchVic and provide project reporting and evidence of project progress against KPIs to receive payments under agreed milestones. Approximately 15 percent of the total grant is allocated to milestone 1 and contracts typically include approximately five to seven milestones. The number of milestones, and amounts, are dependent on factors such as the grant amount, scope and length of project.
Please review the sample LaunchVic Grant Agreement contract before applying.
How to apply
Applications must apply by submitting an Expression of Interest (EOI) form via the SmartyGrants LaunchVic online application system. Applicants will be required to address Eligibility and the Key Assessment Criteria and include Applicant Details, Project Details and and complete the Declaration before submission.
A preview of the online form, that shows you what is required, can be downloaded here.
Indicative timings for the Round X Grants Program is as follows:
Stage 1: Expression of Interest (EOI)
· Opened: 7 February 2019
· Information Session 1 (in-person) : 10am – 11am Tuesday 19 February 2019 Completed
· Information Session 2 (online): 11am – 12pm Thursday 28 February 2019 Booked Out
· Information Session 3 (online): 10am – 12pm Tuesday 5 March 2019 Registration Link
· Closes: 10am 21 March 2019
· Communications: to unsuccessful and shortlisted applicants by 18 April 2019
Stage 2: Shortlisted Applicants
· Project Plan, Pitch Presentation & Financial Reports : 30 April 2019
· Pitch Day: 7 May 2019
· Successful recipients announced: June 2019
Register to receive email updates regarding this round here