30X30 Founder 30X30 is an ambitious program for ambitious scaleups. As the name suggests, we want to see 30 Victorian scaleups reach unicorn status by 2030. Helping ambitious Founders in Victoria scale and win. 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 for the next cohort have now closed. Subscribe to LaunchVic’s newsletter for updates. Program Guidelines The four month program kicks off with a welcome event 5th April 2023. Download the program guidelines for a full list of dates and eligibility requirements. Download (669.09 Kb pdf) Watch Video 30X30 Alumni Watch Video 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. FAQs 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; Gambling; Logging of old growth forests; Uranium; Unregulated animal testing; Live cattle and/or sheep exports; or Fracking My startup doesn’t quite meet the minimum requirements, can I still apply? 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. If you have any questions about your scaleup’s eligibility, please contact us. Key dates 30th January 2023 Expressions of Interest open. 8th February 2023 Information Session and office hours for potential applicants. 4pm 17th February 2023 Expressions of Interest close. 20th February 2023 Scaleups advised if they have met eligibility requirements and eligible scaleups invited to submit application for the Program. 5pm 7th March 2023 Applications close for eligible scaleups. 15th March to 16th March 2023 Shortlisted Applicants invited for interview. 23rd March 2023 Successful applicants notified. 5th April 2023 Kick-Off Event 26th to 27th April 2023 Month #1: programming Founder CEO required on 26th April 2023. Leadership team required both days. 27th April 2023 Founder Dinner – All founders required. 24th May to 25th May 2023 Month #2: programming Leadership team required both days. 21st June to 22nd June 2023 Month #3: programming Leadership team required both days. 19th July to 20th July 2023 Month #4 programming Founder CEO required on 19th July 2023. Leadership team required both days. How do you define Victorian-based? Victorian-based means the scaleup must be a Victorian registered and headquartered company. The founder/CEO must also have a primary residence in Victoria. How do you define a startup? 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. How much does 30X30 cost? 30X30 is a free program to participate in. By participating in 30X30 will LaunchVic take equity in my startup? No, LaunchVic will not take equity in any of the companies involved in the 30X30 program. What topics will you cover? 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’. Is it just the founder that participates? 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. Why does my executive team participate? 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. How can I find out more? 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 contact us.
