Round 9 Guidelines
Overview & Objective
This funding opportunity is specifically targeted at supporting LaunchVic to position Victoria as an internationally recognised startup ecosystem through enhancing capability and excellence in the Victorian startup community.
To achieve this, LaunchVic is seeking applications from coworking spaces seeking to provide access to experienced startup professionals (Experts-In-Residence or EIRs) to their resident startups and the broader Victorian startup ecosystem.
Coworking spaces are hubs of innovation where startups base themselves through their early growth phase for support, guidance and collaboration opportunities amongst other things. The purpose of this program is to support growth and learning opportunities for resident startups by attracting EIRs that will provide business guidance, mentorship and support for startups to improve their business capabilities. The program will favour EIRs with strong international experience and networks, and this is expected to support Victorian startups with global connections. The program is also expected to stimulate collaboration in and between Victorian coworking spaces.
Unlike previous LaunchVic funding rounds, this grant round will remain open until funding of $500,000 is fully allocated. The LaunchVic Board may choose to extend the funding subject to the program demand, performance and outcomes. Each submitted application will be reviewed by LaunchVic. LaunchVic will invest up to $25,000 per successful application to support travel, accommodation and program activities of EIRs where the length of the EIR program is 4 weeks or longer.
Applications requesting more than $25,000 will be considered but the Expert-in-Residence must be high calibre.
LaunchVic defines startups as businesses with high impact potential, that use innovation and/or address scalable markets.
LaunchVic defines a startup coworking space as a shared office format where multiple startups can rent or be allocated desks at which to host their business, within the same office area.
How to apply
Applications can be submitted at any time, until the program funds are allocated. Once this occurs LaunchVic will close the funding round.
Applications must be submitted through the LaunchVic online application system. Applicants need to provide information on their organisation, the proposed EIR and their program, and address eligibility and the key assessment criteria questions supplied in the online application form. Applicants will need to read and submit the declaration at the end of the application.
Applicants can preview the application form via the online system before starting a submission. Applications can be started, amended and saved before submitting. Click on the link here to get started.
Applicants must provide details on the organisation (coworking space) including: Registered Company Name; ABN; Company Address; Primary and Secondary Contact Details; Website and Social Media details; and Program Partners (if applicable) via the online application form.
Applicants must outline the project details in the online form including:
- Project summary (for marketing purposes - 50 words max)
- EIR Name and Title
- EIR start and end dates (NB: program must be a minimum of 4 weeks)
- Funding amount requested
- Other Contributions (cash and/or in-kind) (not mandatory)
Applicants must select the type of program from the list below – more than one program type can be selected. Details will be required under the Key Assessment Criteria.
- Educational activities
- Mentoring activities
- Events activities
- Recruitment activities
- Other – please provide a description
Applications must be submitted via LaunchVic online application system. Applications will not be accepted outside of the LaunchVic online application system.
To be eligible, applicants must identify their type of organisation, EIR credentials and the program focus.
1. Type of Organisation
To be eligible to apply, the organisation must be an established startup coworking space located in Victoria.
2. EIR Credentials
LaunchVic is specifically looking to invest in coworking spaces that will engage with experienced startup professionals. The proposed EIR must:
a) have founded and scaled a startup; and/or
b) have a strong experience as a Startup Executive (CEO, CTO, CMO, COO etc) at a technology-based company; and/or
c) be a recognised international startup ecosystem leader.
3. EIR Program Focus
Proposed EIR program must deliver support services for Victorian startup founders, executives and teams working in a launched startup for at least 4 weeks.
If you have a question regarding eligibility, please contact the LaunchVic Grants Team
Key Assessment Criteria
Applicants will be required to address the following Key Assessment Criteria via the online application form. Please preview the application form via the LaunchVic online application system for more information, including on required word count.
Word Count (maximum)
1. Coworking Space Details
Tell us about your coworking space including years of operation, core team member experience, number of members (resident startups) and any other relevant information (e.g. specialisation, activities etc).
2. EIR Details and Experience
| Please include the name, title, website/linkedIn and outline the experience of the proposed EIR.|
Please upload a letter of interest from the proposed EIR to provide evidence that they are prepared to participate in the proposed EIR program.
3. EIR Program Overview & Impact
Outline the proposed EIR program including length of program, proposed activities and how it will enhance startup performance, capabilities and expertise.
Please include details on the target participants (i.e. a breakdown of your member base).
4. Ecosystem Support
How will the proposed EIR program support other activities across the Victorian startup ecosystem? Describe any collaborations, e.g. with other coworking spaces.
5. Measures of Success
How will you measure the success of the EIR program? Provide figures on how many members (resident startups) and startups in the ecosystem the program will support.
6. Funding & Budget
Provide details on the following:
a) Funding amount requested from LaunchVic; and b) Any cash and/or in-kind contributions by your organisation or Partners NB: not mandatory.Note: Applications requesting more than $25,000 will be considered but the Expert-in-Residence must be high calibre.
Partnerships between other organisations are welcome. If partner funding contributions are included, letters of support that commit funding must be provided to be considered.
c) Please outline a budget, including travel, accommodation and program activities.
Upload two references from startups or organisations your Expert-in-Residence has worked with.
Assessment and Selection
Applications must be submitted via the LaunchVic online application system, and can be made at any time up to the date funding for the program is fully allocated.
All applications will be assessed for eligibility by LaunchVic. Applications that do not meet the eligibility criteria will not be assessed against the Key Assessment Criteria.
Eligible applications will be evaluated against the Key Assessment Criteria by an “Assessment Panel” (comprising at least two LaunchVic staff) and an “Approval Committee” (comprising at least two LaunchVic Senior Executives). LaunchVic may at its discretion appoint external independent experts to support the Assessment Panel.
Applicants will undergo due diligence by LaunchVic and may be required to undergo a Financial Risk Assessment which will be conducted by the Victorian Department of Economic Development or their approved (third party) agents. Information provided will be kept strictly confidential.
LaunchVic may enter negotiations with shortlisted applicants to refine project proposals. Funding outcomes are determined by the LaunchVic Approval Committee and their decision is final.
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 with LaunchVic and provide documentation/evidence to receive payments under agreed milestones. Based on a $25,000 grant, $20,000 is allocated to Milestone 1 and $5,000 allocated to Milestone 2. The number of milestones, and amounts, are dependent on factors such as the grant amount and scope.
Please download and read the LaunchVic Round 9 legal contract before starting your online application. All successful applicants will be required to enter into this standard contract to receive funding.
Indicative timings for the Round 9 Grants Program is as follows:
- Opened: 3 August 2018
- Assessment begins: 3 September 2018
- Assessment timeline: approximately 6 weeks
- Closes: when funds are fully allocated
- Successful recipients announced: via the LaunchVic website