Grants for Victorian HealthTech Angel Networks FAQs
8. What does "demonstrable expertise" mean? Someone who has experience in investing in HealthTech startups and has actively been involved in leading investment deals into HealthTech startups over a period of time. If you are from the medical sector and can show your sectoral knowledge is strong and have some experience in investing, this would also be considered. You need to be able to show you have a deep understanding of the challenges healthtech startups face.
7. If we have made few but meaningful investments in the space (for example 5 follow-ons in 1 company which is flagged for IPO) – is this enough to show demonstrable experience? We still require you to demonstrate your understanding and demonstrable experience in the sector and the investing landscape has led to those investments and you will be able to continue making sophisticated investments into the sector. See above for demonstrable experience.
6. What governance structure/s would you expect to see from the syndicates eg. Advisors? It depends ultimately on the group and how you are setting the network up. Some angel networks do have formal advisory boards, where others do not. We would expect this to be outlined in the Operating Model and Organisational Structure part of the application.
5. What about applications from networks that are active in medtech but not exclusively operating in that space? We’re looking to fun dedicated HealthTech angel networks. If you’re an existing network we will only accept an application if it is a newly established network dedicated to supporting HealthTech startups.
4. How many applicants will be shortlisted? And how many applications will be funded? The number of shortlisted applicants will depend on the number of quality of applications received. LaunchVic expects to fund 1-2 applications through this grant round.
3. When will I know if my application is successful? What is the timeline for this funding round? Applications close at 10am 16 March. Communication will be made to applicants moving to Stage 2 by 1 April 2021. LaunchVic is looking to contract with successful recipients in May 2021 with an announcement to follow once contracts have been executed.
2. Can this grant help subsidise an existing Angel Network? The following applicants are eligible to apply to this Grant Round:
• Angel Investors with demonstrable expertise in investing and / or supporting biotech, medtech and pharmaceutical startups seeking to formalise as a New Angel Network and register as an incorporated association or as a company in the State of Victoria through ASIC; or
• An established Existing Angel Network with demonstrable expertise in investing and / or supporting biotech, medtech and pharmaceuticals startups registered outside of the State of Victoria seeking to establish a Victorian branch/office.
1. Can I speak to someone at LaunchVic to discuss my proposal? LaunchVic is not offering calls or meetings for applicants under this grant program based on our probity policy – operating under a fair and transparent process for all applicants. However, if anything is unclear in the program guidelines or you are unsure if you are eligible to apply please contact us via email email@example.com We generally respond to emails within 48 hours during the working week.