Learn more about Victoria’s $91 billion startup sector.
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Connect with a wide range of LaunchVic programs fuelling the startup state.
Discover grant opportunities to grow startup activity in Victoria.
LaunchVic’s investments are set to unlock up to $280 million for the Victorian early-stage capital market by 2024. Learn more about our work growing Victoria’s investor community.
LaunchVic drives the startup ecosystem by investing in organisations (service providers) that will deliver quality programs to support Victorian startups and investors.
Through our work with Agriculture Victoria, we are also providing direct grants to startup founders building the future of AgTech.
If you have a question regarding LaunchVic funding, click the link below to send us an enquiry.
Supporting Early-Stage AgTech Startups
$50,000 grants for AgTech founders.
Timings for this grant round:
LaunchVic has again partnered with Agriculture Victoria to increase support for early-stage AgTech startups across Victoria by rapidly providing small amounts of working capital to help startups build capability and move to the next stage of growth.
As well as providing funding to cover operating costs that build startup capability and growth for early-stage AgTech startups, the grant will provide access to business development services that will enable founders to access the best possible support and advice to build their businesses, grow jobs and support Victoria’s economic growth.
View the Program Guidelines (v2.2 reissued 6 Sept 2023)
Watch the Information Session
Apply Online
Read our FAQs
View A Sample Contract
Funding for new venture capital funds
$300,000 grants to support new VC funds to establish in Victoria
Round 1
Round 2
Round 3
Overview
Victoria is home to a small number of high-quality early-stage venture capital (VC) funds, including some that have been established with the support from LaunchVic through accelerator grants (e.g Skalata Ventures) or angel network grants (e.g. Archangel). Together, Victoria’s VC funds play an important role in growing the Victorian startup ecosystem. However, the increase in number of quality startups, combined with the continued lack of early-stage capital, is exacerbated by the lack of Victorian-based VC funds.
There is more work to do to help grow Victoria’s early VC investor landscape. By providing operational and establishment funding LaunchVic seeks to encourage the establishment of more, experienced VC funds in Victoria, providing avenues for investment for our growing early-stage startups.
View the Program Guidelines (reissued 22 November)
Supporting emerging VC fund managers
Grants of up to $20,000 to enable emerging VC Fund Managers working at Victorian early-stage VC funds to travel internationally to undertake internships at global VC funds.
The internships will support emerging VC Fund Managers to develop their fund management skills and networks, and to build connections between local VC and global VC funds. This will help build the capabilities and ensure the competitiveness of the Victorian early-stage VC sector.
LaunchVic is committed to ensuring that the Victorian startup ecosystem reflects the rich diversity of the Victorian community. We encourage applications from emerging managers from diverse backgrounds.
View the Program Guidelines
Building a robust investor community and AgTech ecosystem
Up to $300,000 available to establish Victoria’s first dedicated angel network for AgTech startups.
Timings for this grant round: Stage 1 Round launched:Tuesday 21 February 2023 Information Session:Tuesday 7 March 2023 Watch the recording Round Closes:Friday 5 May 2023 10:00am (AEDT) Communications:To applicants moving to Stage 2 by Friday 12 May 2023 Stage 2 Virtual Pitch Day:via Zoom Monday 29 May 2023 Due Diligence:Requested information due by Monday 29 May 2023 Communications:To applicants moving to Stage 3 by Friday 2 June 2023 Stage 3 Contracting:We expect to contract successful applicants in June 2023 Announcement:An announcement will follow once contracts executed
LaunchVic has again partnered with Agriculture Victoria to increase support for early-stage AgTech startups across Victoria by activating a dedicated Angel Network specialising in making seed investments in AgTech startups.
AgTech can have a significant impact on Australia’s agricultural sector’s growth. The total value of the global AgTech market is expected to reach $22.5 billion by 2025 (an estimated growth rate of 150% from 2020). Despite Victoria having all the elements to be a national leader in AgTech, support is needed to help AgTech startups further develop their capability and move to the next stage of growth quickly. Victoria’s AgTech sector has enormous potential and, with the right support, is predicted to achieve revenues of $350 million and employ 2500 FTEs by 2025.
LaunchVic has, to date, supported ten Angel Networks to help build a robust Victorian Investor Community and to unlock more capital for Victorian Startups. However, none of these networks focus solely on the AgTech sector. In his 2019 Angel Network report, Professor Josh Lerner recommended that LaunchVic establish sector specific Angel Networks to help drive success in industry verticals. LaunchVic and Agriculture Victoria believe the time is right to action this for the agriculture sector.
Download the Draft Grant Agreement
Opened: 1 March 2023
Closed: 20 April 2023
Up to $300,000 was available for Pre-Accelerator programs supporting women startup entrepreneurs.
LaunchVic funded two successful recipients:
The funding comes as research by LaunchVic reveals one-third of Victorian startups now have at least one woman founder, up from 20 per cent in 2020.
But the figure is still outpaced by the growth of male-only firms, suggesting further support is needed for women-led startups at those crucial early stages.
The successfully funded Pre-Accelerator Programs will:
Opened: Monday, 11 April 2016 Closed: Friday, 6 May 2016
Victoria’s startup community received a $6.5 million boost, with the first round of LaunchVic grants supporting 18 projects across the state.
Projects funded in this round range from large ideas for startup hubs, incubators and accelerators, to smaller ideas that would enable established organisations to increase their scale, reach and impact.
The large ideas were designed for a small number of sizable proposals from both new and existing organisations that significantly enhance Victoria’s startup ecosystem (rather than startups themselves).
We encouraged applications for smaller initiatives or projects that build startup infrastructure in underdeveloped areas like, regional locations, social entrepreneurs and diversity.
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Opened: Friday, 30 September 2016 Closed: Friday, 11 November 2016
Our second round of funding invited both large and small initiatives that increased the scale, accessibility and diversity of Victoria’s startup sector across a number of industries including health, education and technology.
LaunchVic encouraged applications from high-quality programs that would position Victoria as a leader in collaboration and diversity.
Large ideas were expected to engage locally, nationally and internationally to enhance and forge new collaborations, drive services across the ecosystem and create new and robust networks.
Opened: Thursday, 1 June 2017 Closed: Wednesday, 5 July 2017
LaunchVic’s third funding round invited proposals for 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 started 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 as they embark on entrepreneurial journeys to establish themselves.
Opened: Wednesday, 2 August 2017 Closed: Thursday 21 September 2017
Our fourth round of funding was designed to help position Victoria as an internationally recognised startup ecosystem, by educating the Victorian founder community in the areas they need it the most.
This was a competitive grant round for shortlisted organisations who can deliver education programs on investment support and pitching to Victoria’s community of startup founders.
Opened: Monday, 28 August 2017 Closed: Tuesday, 10 October 2017
Funding Round Period: 28 August – 10 October 2017Our fourth round of funding focused on organisation/s that could deliver world-class accelerator program/s to Victorian startup founders and executives.
While LaunchVic has invested in a number of accelerators to date, we sought truly world-class programs to support global connectivity and help the very best startups achieve growth on an international scale. The program/s were to be delivered in Melbourne, and help contribute to the growth of the local ecosystem.
LaunchVic’s Round 4 grant funding program was open to Australian accelerators, international accelerators and teams with proven track records of success.
Opened: Friday, 8 December 2017 Closed: Thursday, 22 March 2018
LaunchVic’s sixth funding round helped local councils improve access and participation in the startup ecosystem in Victoria.
LaunchVic invested in Victorian Local Councils, especially in regional and outer metro areas, to deliver programs and activities that address stages 1 and 2 of the Startup Framework for Local Governments.
Opened: Friday, 23 March 2018 Closed: Thursday, 24 May 2018
LaunchVic’s seventh grant round focused on increasing diversity and inclusion by investing in organisations to deliver new and existing entrepreneurial programs that improve access and participation in the Victorian startup ecosystem for Aboriginal Victorians.
This funding program was an initiative of Tharamba Bugheen, the Victorian Aboriginal Business Strategy 2017-2021 released by the Victorian Government in March 2017. Tharamba Bugheen recognises that economic advancement of Aboriginal Victorians is critical for self-determination and is making significant investments to support this agenda.
Opened: Thursday, 10 May 2018 Closed: Thursday, 5 July 2018
LaunchVic’s eighth funding grant round focused on leveraging Victoria’s key strengths in the health startup sector – including in medtech, biotech, pharma, health & ageing services and disability services (together, the ‘Health Startup Sector’).
Through this round, LaunchVic funded organisations to deliver accelerator and education programs that will further drive Victoria’s strengths and help position the State as a leading health startup hub in the Asia-Pacific region.
Opened: Friday, 3 August 2018 Closed: Thursday, 28 February 2019
LaunchVic’s ninth funding round was specifically targeted at positioning Victoria as an internationally recognised startup ecosystem through enhancing capability and excellence in the Victorian startup community.
Applications were open for 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 was 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 favoured EIRs with strong international experience and networks, and this is expected to support Victorian startups with global connections. The program was also intended to stimulate collaboration in and between Victorian coworking spaces.
LaunchVic invested up to $25,000 per successful application to support travel, accommodation and program activities of EIRs where the length of the EIR program was 4 weeks or longer.
Opened: Thursday, 7 February 2019 Closed: Thursday, 21 March 2019
LaunchVic’s tenth funding grant round focused on capturing new ideas and initiatives to support the development of startup founders, entrepreneurs and investors in the Victorian startup ecosystem. Unlike LaunchVic’s recent grant rounds, this round was ‘open’ meaning there was no specific focus, however applications needed to align with LaunchVic’s strategy. We wanted to hear from you about what you thought the Victorian startup ecosystem needed to support further growth.
Applications seeking funding for meetups, events, hackathons, educational courses, mentoring, bootcamps, incubator programs, accelerator programs were accepted. Other eligible programs outside of this list were also considered. Programs needed to focus on one or more of LaunchVic’s strategic focus area streams: Diversity and Inclusion; Capability and Excellence; Leveraging Key Strengths; and/or Channel Development.
LaunchVic requested applications up to $250,000 per application. Organisations needed to demonstrate experience working with and delivering similar programs for startups and/or startup entrepreneurs or investors.
Opened: 24 September 2019 Closed: 12 November 2019
‘Building a robust Victorian Investor Community’ was a LaunchVic program based on research identifying that many early stage Victorian startups were unable to secure the capital they needed to grow. The program was designed to increase the number of Victorian based Angels by funding new Angel Networks and boosting existing Angel Networks.
The objectives of this funding were to:
To support this program LaunchVic commissioned Bella Private Markets to develop a Best Practise guide to Angel Networks. A high level summary is available here [URL missing]. For the full report that includes a comprehensive assessment of considerations when setting up an angel network, guidelines for establishing the investment process and much more please email hello@launchvic.org.
In 2019, LaunchVic released an Expressions of Interest (EOIs) seeking applications from suitable existing angel networks and applicants who would formalise new angel networks. The successful EOI applicants were invited to submit a detailed proposal under a Request for Further Information (RFI) issued in December 2019. Successful RFI applicants received funding of up to $300k (exclusive of GST) over 2 years. Funds were to be used for Operating Costs.
Supporting Early Stage Startup Creation
Opened: 14 April 2020 Closed: 8 May 2020
This grant program was originally opened on the 11 March 2020 with the aim of increasing the pipeline of early-stage startups in Victoria. Due to the COVID-19 pandemic, LaunchVic made some changes to this grant round and alter its focus from increasing startup density to one where economic recovery was at the forefront and aspiring entrepreneurs with technology-based ideas are given every chance for success.
Evidence from previous economic downturns illustrate that entrepreneurship can play a vital role in helping to drive recovery. Now more than ever it will be important that entrepreneurs looking to start their own startup have access to the best possible support, advice and networks to help them on their journey as they build new companies that will help to sustain our future economy.
LaunchVic sought to invest up to $250k per application for Pre-Accelerator programs to run for a minimum of 2 years. Applications had to have a delivery team that had strong startup education skills and must have had previous experience delivering pre-accelerator or accelerator programs. Applications from existing and new Pre-Accelerator programs were also accepted. Funds could be used for Operating Costs.
Growing the Pool of Talent for Victorian Startups and Scaleups
EOI Opened: 27 August 2020 EOI Closed: 10am 24 September 2020
Round Opened: 29 October 2020 Round Closed: 16 November 2020
The impact of COVID-19 on our economy is widespread, with many businesses having to stand down, lay off staff or close down altogether. Many talented Australians have found themselves unemployed or facing employment uncertainty. While we recognised the deep impacts on the economy, at LaunchVic we also recognised that startups and scaleups were key to economic recovery. And while not every startup and scaleup was succeeding during the COVID-19 pandemic, many were growing and creating jobs of the future.
Startups and scaleups are still on the lookout for great talent. For those that are growing, there are job vacancies waiting to be filled. Others are keen to have conversations that ensure a strong candidate pipeline for when growth starts again.
LaunchVic issued an Expression of Interest (EOI) on 27 August 2020 seeking proposals for Talent Programs needed to support Victorians that don’t have experience working at startups or scaleups so they can successfully transition into jobs in Victorian startups and scaleups. Applications closed on the 24 September and were evaluated by LaunchVic. A shortlist of outstanding applications were selected and approved by the LaunchVic Board to proceed to the next stage – a closed grant round. Successful Recipients were announced in February 2021.
Building a robust investor community
Opened: 9 February 2021 Closed: 19 April 2021 (changed from 15 April 2021)
In 2020, LaunchVic provided funding to support the establishment of four new Angel Networks to help build a robust Victorian Investor Community and to unlock more capital for Victorian Startups. The four new Angel Networks, along with the existing Angel Networks in Victoria, do not currently focus on any particular sector, and some networks explicitly do not invest in startups focused on solving challenges in health industries. However, 18% of Victorian Startups are focused on HealthTech in some form – more than any other sector in Victoria. In his 2019 Angel Network report, Professor Lerner recommended that LaunchVic establish sector-specific Angel Networks to help drive success in industry verticals. LaunchVic believes that the time is right to action this in health industries including biotech, medtech and pharmaceuticals (collectively, HealthTech).
LaunchVic sought proposals from applicants to launch a HealthTech Angel Network in the State of Victoria, that will primarily focus on investing in Victorian biotech, medtech and pharmaceutical startups.
Supporting Early-Stage AgTech Startup Creation
Opened: 8 September 2021 Closed: 27 October 2021
Agriculture is a key sector of Victoria’s economy, employing 146,600 staff across 2020-21. The sector is vitally important to the Victorian economy and our future, however, changing conditions mean the sector needs to continually adapt. AgTech is a key driver to support adaptation of the agriculture sector, with the potential to provide farmers with the tools, data and knowledge to make more informed, timely on-farm decisions and improve productivity and sustainability.
AgTech can have a significant impact on Australia’s agricultural sector’s growth. The total value of the global AgTech market is expected to reach $22.5 billion by 2025 (an estimated growth rate of 150% from 2020). Despite Victoria having all the elements to be a national leader in AgTech, the sector is still small and immature, with AgTech startups accounting for less than 2% of total startups in Victoria.
This grant program aimed to increase support for aspiring AgTech entrepreneurs by funding experts to deliver Pre-Accelerator programs. The Pre-Accelerator programs will play a pivotal role in growing the AgTech sector in Victoria, enabling new founders to access the best possible support, advice and networks to build new businesses that will help shape our future economy and grow jobs.
Catalysing Early-Stage Startup Investments
Opened: 2 May 2022 Closed: 15 June 2022
Between 2020-2022, LaunchVic provided funding to support the establishment of five successful new Angel Networks to help build a robust Victorian investor community and to unlock more capital for Victorian Startups.
These networks are already playing an important role in developing the Victorian startup ecosystem – providing an avenue of funding for founders, supporting startup investors to syndicate, and providing capital in a structured and purposeful way at the critical early stages of startups’ journey. To date over 200 new investors had been recruited by these networks investing more than $5m into Victorian startups.
Despite this growth in formal angel networks, LaunchVic recognised that this number of angel groups is lower than in peer ecosystems. With a rise in investor education programs, there was also a growing number of informal syndications. By providing operational funding and support LaunchVic sought to encourage the formalisation of more angel networks, providing an opportunity for growth in early-stage investments in Victorian startups and an increase in the early-stage investor pool.
Supporting Programs that Grow More Scaleups
Opened: 6 May 2022 Closed: 27 June 2022
Victoria’s startup ecosystem is on the move
Catalytic initiatives funded by LaunchVic have fuelled above-average growth in Victoria’s startup ecosystem over the last four years.
To date, LaunchVic has successfully invested in a number of accelerators that have helped established startups to scale. The most successful programs have driven the growth of Victorian startups, supported access to capital and created high-value jobs. In addition, the most successful accelerators have supported the ecosystem more broadly through additional offerings including events, founder office hours, the establishment of funds, investor engagement etc.
Building a Vibrant Regional Victorian Startup Community
Opened: 16 June 2022 Closed: 21 July 2022
LaunchVic has proudly supported the development of regional startup ecosystems across Victoria. However, there is more work to do – only 3% of founders identify as regional despite 25% of Victoria’s population living outside Melbourne. LaunchVic wants to build a vibrant regional Victorian startup community by helping early-stage ecosystem development activities in regional centres.
LaunchVic invited Expressions of Interest from New and Existing organisations recommending the areas of programming required to grow their local startup ecosystem with the objectives of:
Programs currently funded by LaunchVic that operate in regional Victoria and are seeking re-funding and consortia proposals were considered.
The successful EOI applicants were invited to submit a detailed Request for Proposal (RFP). Successful RFP applicants could receive funding of between $50,000 and $300,000 (exclusive of GST) over 1-2 years. Funds are to be used for Operating Costs.
Through this round, we sought ideas that would support startup entrepreneurship in regional Victoria and increase the number of early-stage startups.
In special circumstances, LaunchVic may accept unsolicited proposals for grants outside of its communicated grant rounds or its refunding of high-performing programs.
While we do not fund startups directly via unsolicited proposals, the programs we fund aim to provide the services needed to assist early-stage and scaling startups through their journey.
Any proposal received must meet the following principles:
Any proposal that does not meet all of these criteria will not be reviewed.
LaunchVic will endeavour to review all unsolicited proposals, and provide feedback, but is under no obligation to do so.
Any proposal considered appropriate for funding will undergo further assessment and due diligence in accordance with the process for all grants awarded by LaunchVic.
Any approved applicants must also undergo due diligence by LaunchVic.
The maximum amount of funding awarded to a startup is $50,000.
Costs relating to managing the grant are generally considered routine operational expenditure and are not intended to be supported by the grant.
Startups are only eligible to receive one $50,000 grant as part of this funding round. Unsuccessful companies will be permitted to reapply based on feedback from the assessment panel. This will not guarantee their success.
Business Capability and Growth Costs, which includes salaries for new positions and activities that support product and service development costs, business process and system improvement, marketing, communications and sales, customer growth and customer success initiatives, costs that support investment attraction, intellectual property costs, and product trial costs. Salaries for founders and pre-existing staff will not be supported.
The AgTech Grants Program is not intended to support routine operational expenditure, retrospective activities, and the purchase, lease or acquisition of land.
AgTech is the collection of technologies that provide the agricultural industry with the tools, data and knowledge to make more informed, timely on-farm decisions and improve productivity and sustainability. Applications of these technologies can include: plant or animal science, crop protection & input management, precision agriculture, indoor agriculture, sensors & smart farm equipment, imagery, animal technologies, processing & packaging, supply chain and hardware.
*FoodTech (food production) is generally not included in this definition, unless the business idea is technology based with high impact potential, using innovation and/or addressing scalable markets
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 on grants@launchvic.org. We generally respond to emails within 48 hours during the working week.
Startups will also meet with LaunchVic personnel and be able to access connections and networks through LaunchVic and Agriculture Victoria.
We have $1 million in funding to deploy through this grant round and applications will remain open until 30 June 2024, or until the funding is fully expended. We expect to fund 20 early-stage agtech startups through this program.
We love to see startups participating in accelerator programs and/or other startup programs, and you will see that educational and professional development activities is part of the assessment criteria. We know that through these programs, participants receive access to mentoring, education, advice and support which is crucial at an early-stage of development.If you are interested in viewing the list of startup programs LaunchVic has supported, visit our website here: https://launchvic.org/programs/
Absolutely, you can apply the funding to new salaries or new marketing efforts that are contributing to the growth of the business.
No, you are welcome to apply pre-revenue and/or prior to your product being in market.
Applications are open now and will remain open until 30 June 2024 or until all funds are fully allocated. Our Assessment Committee will be assessing applications every second month from May. Interviews with the first round of shortlisted applicants will occur late May and we expect to announce the first recipients in June.
Of the $50,000, $1,500 is allocated to meeting with a LaunchVic appointed Startup Business Mentor over two 90 minute sessions. The LaunchVic Startup Business Mentor will be able to support you through the grant process and will give you tailored and structured advice to help you with next steps for your business.
Yes, you are welcome to use the funding to support the costs of developing a prototype.
Yes, we are keen to connect startups and farmers as part of this grant round and beyond the grant round. We are working closely with Agriculture Victoria and can connect you with their five SmartFarms which are a great way to connect with farmers in the regions you are interested in. Please email us on grants@launchvic.org and we’ll connect you.
Yes, however we would encourage you to consider your capacity to deliver on multiple projects at the same time before submitting your application/s. The Assessment Panel will be taking into consideration the number of projects being proposed and the capability of the team to deliver the project/s.
LaunchVic’s definition of a startup is a technology-based businesses with high impact potential, that use innovation and/or address scalable markets. We know that there is some great innovation that can be applied to agtech in Victoria, and we want to see in yourapplication that you and your team are capable of executing your proposal.
We are looking to provide support for truly new funds in Victoria. If you are an existing fund that creates a new fund entity solely to qualify for this funding program, but the new fund entity is essentially the same as the existing fund, it will not be considered a New Fund. It is the responsibility of the applicant to demonstrate the ‘newness’ in order to meet the eligibility criteria.
Fund of funds are not eligible for this funding program as we are seeking to establish VC funds that will invest directly into startups.
There are multiple models for VC funds. We would generally expect a partnership structure, however, are happy to assess other structures so long as the objective of the VC Support Program funding round are achieved, and the eligibility requirements are met.
We expect the status of Victorian Startups to meet our Victorian definition (including the requirement that 50% of assets and employees are located in Victoria) prior to and at the point of investment, in addition to the immediate future. However, we recognise this may not be the case into the future (for example if the startup is acquired by another company headquartered interstate).
We require someone of partner level to be in Victoria and permanently residing in Victoria.
One of the eligibility requirements is that the Lead Partner must have demonstrable and significant experience, for example managing a personal or family office startup investment portfolio of at least 10 startups. If the Lead Partner has only made a couple of investments and they don’t have a huge amount of experience yet, we suggest that you consider other funding opportunities including Angel Network Grant rounds.
The Lead Partner refers to an individual.
We are comfortable with you investing interstate and internationally as well as in Victorian founders. We want you to build a strong venture fund in Victoria, and we recognise that this may not mean the entire portfolio is Victorian based. As general guidance, if you are establishing a fund of $10M, we would typically expect at least half of it to be invested in Victoria. If you are establishing a new to Victoria Fund of $100M, we would not expect you to invest 50% of that Fund. We would however expect that a sizable portion is invested into Victorian Startups.
If you’re an existing fund manager who is located interstate, then yes. The New to Victoria VC Fund could be a feeder to a main fund, however the Lead Partner for the Fund must commit to permanently reside in Victoria.
The focus on Victorian startups will depend on the size of the fund. Smaller funds will be expected to have a large percentage of FUM allocated to Victorian startups. Larger funds might have a lower percentage of FUM allocated to Victorian startups (but the total capital allocated might be larger than the smaller fund).
We don’t have a preferred template. Any attached CV should be of typical length. The application will also require capability statements, and we have specified word counts for these in our guidelines.
We want you to build a highly competent Investment Committee. We understand that competence can be found in diverse locations, and we welcome international and interstate members to be included on the Investment Committee, as long as they are able to dedicate the necessary time and have the relevant expertise.
If you are considering relocating a Lead Partner who is currently based outside of Australia, please indicate this in your application. Any offer of funding will be contingent upon the Lead Partner meeting the applicable visa requirements. We recommend seeking advice from the Victorian Government and the Australian Government to ensure the visa requirements are fulfilled. Note that the Victorian Government, through its investment arm Invest Vic, regularly assists individuals in coming to Australia. Although the Victorian Government does not issue visas directly, they are able to help provide pathways to facilitate skilled migrants coming to Victoria.
Cash contributions from existing staff can be counted toward the “cash contribution”, however we would expect you to provide information on how much FTE is being put towards this and the function of their role as it relates to the establishment costs of the New Fund.
There are multiple ways you can secure an AFSL license and we would recommend consulting with an expert to determine the best course of action for you.
Our typical requirement is that expenses will be reimbursed, however we understand that the reimbursement process may vary depending on the stage of your cycle and different fundraising needs may have different requirements. We will negotiate the payment structure and milestone requirements with successful funding recipients.
Successful applicants will be announced following the contracting period. Until then they will remain confidential.
We’re unable to help applicants with introductions based on our probity policy – operating under a fair and transparent process for all applicants. We’re more than happy to make introductions once the funding round is closed, and all funding has been allocated.
That will be Breakthrough Victoria’s decision. We recommend reaching out to Breakthrough Victoria for questions.
There are various factors or milestones that might influence the timeline, and these need to be articulated by the applicant in the application.
No, we are open to considering different options, however we would expect the management fee and hurdle to be in line with industry standards. The application should clearly set out how you will commercially operate the fund and this will include setting the management fee and any other fees such as carried interest.
We are not focusing on specific sectors. However, if applicants would like to focus on a specific sector it is up to applicants to outline the sectors that need to be focused on. The application needs to clearly demonstrate the need for funding (a pipeline of quality companies) and expertise in the area/s of focus.
We recommend that you refer directly to the ATO to answer this question.
You will need to demonstrate in your application that you’ve met the relevant regulatory requirements. We will check that all proposals received have met their obligations.
We are specifically looking to support early-stage funds through this funding round. If you will meet the requirement to raise at least $10M in early-stage funds, and the fund is significantly larger than this, we’re comfortable with the remaining portion of funding supporting later-stage startups.
We would generally expect the Lead Partner to be working full time. However, if you have a Victorian Lead Partner that is part time, and you have other full time staff in Victoria, we would consider this arrangement as long as the application clearly sets out the support the Lead Partner will have in managing the fund.
We’re focused on pre-seed, seed, and series A investments.
While we cannot directly assist in raising funds for our funding recipients, we support our funding recipients and portfolio companies as much as we can. This can include with introductions that could potentially lead to further fundraising opportunities. However, it is important to note that this should not be considered a primary strategy for raising funds.
We absolutely recognise the fundraising challenges faced by women founders, and we welcome applications that focus on women-led startups. LaunchVic has also very proudly established the Alice Anderson Fund to support women-led startups. More information on the Alice Anderson Fund is available on our website.
We certainly recognise the gaps in this area, and one of the key assessment criteria for this funding round is to outline how you are addressing diversity and inclusion in your organisation and investments.
If you are considering applying for a specialised VC fund that focuses on supporting diverse founders, your application will need to clearly demonstrate your capability in this area. We would also recommend reviewing the research available on our website, which includes information on diversity, inclusion, women founders, and a breakdown of sectors and horizontals that can help inform your application process.
There is a limit to the amount of feedback that we are able to provide, particularly as this funding program is set to have multiple rounds. We need to be careful that whilst we are providing constructive feedback, we are not coaching the development of applications that may come forward in future rounds.
If you are yet to finalise the Investment Committee, please provide details of the proposed members (clearly indicating them as proposed) so we can see the calibre and skills of people you intend to appoint. LaunchVic would not reach out to these people without speaking to the applicant first. In the event you are shortlisted, LaunchVic will require confirmation of the IC membership prior to agreeing any funding. A decrease in calibre and skills of IC members may result in a funding offer being withdrawn.
LaunchVic is not offering calls or meetings for applicants under this funding 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 on grants@launchvic.org. We generally respond to emails within 48 hours during the working week.
For the purpose of this funding round, LaunchVic defines venture capital as a specialised type of financing that investors provide to technology startups that have long-term growth potential. It primarily includes equity financing, but other forms of capital (e.g. venture debt) will be considered.
LaunchVic is seeking to invest up to $300,000 per application. The number of applications that will be funded is dependent on the quality of applications received.
LaunchVic is seeking to invest up to $300,000 per application over two years. LaunchVic recognises that VC funds struggle with cash flow in the early years, hence the provision of funding to support early-stage VC Funds.
Cash contributions from third parties to support the establishment of the New VC Fund will be viewed favourably.
Applicants will be notified of the outcome of their application within 4-5 weeks of submission of the application.
We will accept a reply email thread in the application instead of a letter. However, if the application is successful, we will need formal confirmation (letter on letterhead) prior to any funding being provided.
LaunchVic is not offering calls or meetings for applicants under this funding 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 on grants@launchvic.org. We generally respond to emails within 48 hours during the working week
LaunchVic is seeking to fund up to $20,000 per application. The number of applications that will be funded is dependent on the quality of applications received.
The internship needs to be commenced within six months of the grant being awarded.
Cash contributions to support the travel for the internship will be viewed favourably.
The assessment panel will aim to review applications within 8 weeks of submission, until all funds allocated to the program are committed. Applicants may be invited to an interview, and communications to unsuccessful and successful applicants will occur within 8 weeks of the submission of the application.
