Supporting Further Growth
LaunchVic invests in funding programs to support Victorian startups, founders and entrepreneurs. Funding has been provided to programs that will support Victoria’s most promising startups realise their full potential as well as to programs that encourage diversity and inclusion within the startup ecosystem.
The funding will support the below programs to connect startups from a range of disciplines with investment opportunities. Grants have been awarded as part of LaunchVic’s 'Grant Round X' and follow-on funding of high-performing programs.
Capability & Excellence
This program will build upon and extend Startmate’s previous work in Victoria to create an educational funnel to upskill founders by bringing them through three key stages:
· equipping founders with the knowledge they need to talk to investors;
· introducing founders to the mentor and investor network; and
· enabling founders to build 1:1 relationships with investors and mentors.
Startmate will also connect founders to mentors and investors at scale through “Australia’s Biggest Office Hours” which will involve free advisory meetings for founders.
Girl Geek Academy
Diversity & Inclusion
Girl Geek Academy will deliver #SheHacks Victoria in 2019/2020. The female-focused program will include hackathons in Melbourne and regional Victoria and a startup incubator program supporting up to 30 female entrepreneurs.
Diversity & Inclusion and Capability & Excellence
ELEVATE is a curated, immersive program for hardware innovators focusing on product design, manufacturing and supply chain. The program will build capacity and provide access to expertise through masterclasses, bootcamps, mentoring and meetups. Designed by hardware innovators for hardware innovators to gain insights and capability to successfully design and deliver a hardware product at scale, from concept to commercialisation.
Diversity & Inclusion
Under this funding, the Frankston Foundry will deliver the PeninsulaHack which brings together the brightest creative, technical and entrepreneurial minds from across the Peninsula into a festival of activities to educate and innovate.
Diversity & Inclusion
InternMatch is an online platform that connects education providers, interns and startups. This project will help scale the InternMatch platform which was funded under LaunchVic Grant Round 2. It will fund a marketing campaign to build awareness and drive participation of Victorian startups by outlining the benefits of taking on an international student intern. Support for this program will enable Outcome.Life to expand startup internship placements in Melbourne and regional Victoria via InternMatch.
|Impact Investment Group (IIG)||Capability & Excellence (Investors)||Impact Angel Network||$250,000||The Impact Angel Network will connect pre-seed and seed stage startups with impact angel investors through: 1) an online deal flow platform to connect investors with appropriate startup investment opportunities 2) networking events and founder pitch sessions to facilitate direct connections between angel investors and startup founders; and 3) Educational workshops for both investors and startups to support increased investment into Victorian startups.|
|Startup Victoria||Capability & Excellence||Growth Club||$232,000||Startup Victoria will establish peer-to-peer mentoring groups for Victoria’s most promising Scaling Startup founders and CEOs to share learnings and challenges and accelerate growth. Through Growth Club, Startup Victoria will support 50 Participants, through a program of peer-to-peer mentoring groups and educational workshops. The program will also capture insights into the challenges facing Victoria’s Scaling Startups.|
|Rampersand||Capability & Excellence and Diversity & Inclusion||Increasing Investment in Diverse Victorian founders||$250,000||Underfunding Diverse founders by VCs inhibits the success of the entire startup ecosystem. This program will identify, educate Diverse founders through events and a structured mentoring program. Where possible, Rampersand will bring these founders into their investment pipeline or other VCs with a view to securing investment. Through this program, Rampersand will also analyse and diagnose points where founders drop out of the process and publish and promote the findings to encourage greater investment into Diverse founders across the VC ecosystem.|
|ygap||Diversity & Inclusion||ygap First Gens x Catalysr||$250,000||ygap will partner with Catalysr to run their pre-accelerator program in Victoria and deliver the ygap first gens accelerator program. ygap and Catalysr will leverage both organisations’ expertise and track-record to find the best migrant and refugee entrepreneurs and develop the skills they need and access capital to grow their startups. The program includes a pre-accelerator program that supports up to 60 migrant and refugee entrepreneurs and a full accelerator program supporting 12 early-stage startups from the pre-accelerator program.|
|Hume City Council||Diversity & Inclusion||StartNorth Migrant & Refugee Program||$46,000||StartNorth, Hume City Council’s startup space in Broadmeadows, will manage an accelerator program that will support up to 15 startup entrepreneurs from migrant and refugee backgrounds. Housed in one of Melbourne’s most diverse suburbs, StartNorth will partner with ygap who will deliver an accelerator program tailored to the needs of this demographic. ygap’s First Gens accelerator program supports migrant and refugee-led social impact ventures that are improving the lives of people living in disadvantage in Australia.|
|RMIT||Leveraging Key Strengths||MID Open Talent Pathways||$150,000||This project will increase the pipeline of startups and talent in HealthTech and SportsTech by targeting postgraduate students who are considering working in a startup or launching a startup. The curriculum will be codeveloped by the partners – RMIT, the University of Melbourne and the City of Melbourne. Participants will explore innovative deeptech solutions for real-world problems and market gaps within the health and sports domains and test their business ideas for IP and commercial viability. This Program will support up to 50 participants and will consist of an immersive bootcamp, educational program and mentoring.|
|Vumero||Leveraging Key Strengths (Sports)||Melbourne Sports Analytics Meetups||$10,000||This program will include meetups to support the Victorian sports data & technology ecosystem by providing a platform for innovative, and cutting-edge companies to present their ideas, concepts and products. The meetups will also provide a networking opportunity to create a collaborative environment and a way for people to get involved and hear about the latest progress in the sportstech industry.|
|Startmate||Capability & Excellence||Startmate Melbourne Accelerator||$420,000||This Project is a continuation of the Accelerator program delivered under the LaunchVic Grant Round 2. Under this Project, Startmate will deliver two Accelerator Programs for 20 Scaling Startups over 2 years.|
|Australian Sports Technologies Network||Leveraging Key Strengths||ASTN SportsTech Accelerator||$350,000||This Project is a continuation of similar activities delivered under LaunchVic Grant Round 1. Under this Project, ASTN will deliver four Accelerator Programs for 16 Scaling Sports Startups in total with a focus on human performance and sports technology sectors including areas such as stadiums and venues, injury prevention, high performance, fan engagement, business leadership, coaching, virtual reality and artificial intelligence. Focus will also be given to startups that provide products, services and support to the disabled and disadvantaged in sports. In partnership with Vumero, ASTN will run two sports analytics championships (hackathons) and two masterclasses to celebrate sports data, sports marketing and human performance in 2019 and 2020 as part of Melbourne Sports Technology & Human Performance week.|