Helping ambitious Founders in Victoria scale and win.
30X30 is an ambitious program for ambitious scaleups. As the name suggests, we want to see 30 Victorian scaleups reach unicorn status by 2030.
What is 30X30?
As many founders know, some of the biggest pain points to growth are in the day-to-day running of the business, often in the HR, Operations and Finance functions.
30X30 aims to free up founders to focus on key strategic priorities fundamental to your growth, while giving HR, Operations and Finance leaders the skills and exposure to common scaleup challenges and bottlenecks.
As part of this bespoke program, your leadership team will receive sponsored executive education, and have access to a range of mentors who have themselves been through the scaling journey as a leader in either HR, Operations or Finance.
This is a fully subsidised program by LaunchVic, Victoria’s startup agency. LaunchVic does not take an equity stake in your company.
Expressions of Interest (EOI) for our first cohort have now closed. Keep updated about future intakes and funding opportunities by signing up for our newsletter here.
Cohort 1: starts mid-May
Seeking 10 ambitious Scaleups
Up to $11,000 value in Exec Ed and Travel re-imbursement
Available at no cost and no equity taken
What’s in it for Founders and their team?
- Executive Coaching and Mentoring: Functional leaders will take part in two days of executive coaching and mentoring per month with a relevant experienced scaleup leader in their functional area. The cohort will work together across functional lines, bringing finance, operations, and HR leaders together to expand learnings and develop an alumni network that extends beyond the program;
- Executive Education: Re-imbursement of up to $5,000 per scaleup for relevant executive education.
- Cohort Engagement: Ongoing events to ensure the cohort continue to solve scaling problems together, post program.
What’s in it for Founders?
- New Market Entry: In partnership with Global Victoria, the program will advance international market expansion and provide up to $6,000 per scaleup in travel re-imbursement;
- Networking: Where possible LaunchVic will leverage its networks to support access to opportunities for your scaleup, including those supported by Government.
- Profiling: At LaunchVic we believe we should celebrate our best and brightest founders to help other founders and their teams to ‘be what you can see’. We will leverage our own media opportunities to profile your scaleup and the people behind it.
About the program
The program launches in May 2022 and will run until June 2024, over which time three cohorts will go through the program. The first cohort of 10 scaleups will commence in May 2022 and conclude in August 2022. Founders will need to commit up to 3 hours per month and Executive Leaders will need to commit up to 12 hours per month over the course of four months (May to August 2022).
Have a question?
Book in time with LaunchVic's General Manager for Startups, Peter Goldsworthy, to learn more about what 30X30 can do for your business and how to apply. We’ve made it easy with this Calendly. Click the button below to book a call.
What are the eligibility criteria for 30X30?
To be eligible to participate in the 30X30 program, a scaleup must meet each of the following criteria:
1. Victorian-based - the scaleup must be a Victorian registered and headquartered company. The founder/CEO must also have a primary residence in Victoria
2. Size - Meet LaunchVic’s definition of a Startup and in addition meet at least one of the following measures...
- at least 50 full-time employees or;
- A valuation greater than AU$30million but les than AU$200million or;
- Monthly revenue of at least AU$1million per month or;
- Have raised a single venture capital round in excess of AU$5million.
3. Leadership Structure - must have executive leadership roles supporting the Founder/CEO to manage the Finance, Ops and HR functions
4. Funding and runway - As 30X30 requires both a commitment of time and focus during and post program to implement ideas, each scaleup must have at least 15 months runway from the start of the program
5. Adheres to Victorian Government Policy on ESG Prohibited Activities - the Business must not be involved with:
- Tobacco or tabacco-related products;
- Cluster munitions and other controversial weapons;
- Thermal coal;
- Logging of old growth forests;
- Unregulated animal testing;
- Live cattle and/or sheep exports; or
A startup needs to meet the minimum eligibility requirements to be considered. If your startup is ineligible for 30X30 we recommend checking out one of the many other programs supported by LaunchVic here: https://launchvic.org/programs/accelerators-and-incubators-1 If you have any questions about your scaleup’s eligibility, please email email@example.com.
Victorian-based means the scaleup must be a Victorian registered and headquartered company. The founder/CEO must also have a primary residence in Victoria.
A Startup is a young technology-based business that uses innovation to scale rapidly and capture market at a high velocity. Examples of technology include software/apps, artificial intelligence (AI), blockchain, advanced manufacturing & robotics, Internet of Things (IoT), big data analytics, augmented / virtual reality, 3D printing, advanced materials, genomics & life sciences (including Biotech & MedTech) and autonomous vehicles.
30X30 is a free program to participate in.
No, LaunchVic will not take equity in any of the companies involved in the 30X30 program.
The first cohort starts in May 2022
Expressions of interest close at 5:00pm on 14 March 2022. Expressions of interest must be submitted by this time to be considered for the next stage in the selection process.
Your scaleup’s HR, Ops, and Finance leaders will each receive approximately 12 hours of mentoring per month between May – August 2022. The Founder/CEO will also receive ongoing support as part of the program and will need to dedicate approximately 3 hours per month.
Each area (HR, Ops, Finance) will focus on 1 particular element of their role each month. For example, the HR stream may focus on recruitment in the first month, followed by onboarding the next. For Operations, such topics as ‘codifying work’ and ‘defining a world-class COO’ are examples of topics that may be covered. In Finance, we’ll be looking at topics such as ‘fundraising best practises’, ‘board reporting’, and ‘expansion challenges’.
No, the crucial part of this program is that we are looking to serve and upskill leaders and executives in participating scaleups. 30X30 aims to free up founders to focus on key strategic priorities fundamental to your growth, while giving HR, Operations and Finance leaders the skills and exposure to common scaleup challenges and bottlenecks.
As many founders know, some of the biggest pain points to growth are in the day-to-day running of the business, often in the HR, Operations and Finance functions. As revenue scales, the complexity for these three functions multiplies. 30X30 aims to provide HR, Operations and Finance leaders the skills and exposure to common scaleup challenges and bottlenecks.
We recommend reviewing our Program Guidelines document for an overall summary of the 30X30 program, in addition to the program’s eligibility criteria, selection process, and timeline. If you’re still unsure or want to discuss further, you can book in a briefing call with our GM, Startups, Peter Goldsworthy or email us at firstname.lastname@example.org