LaunchVic funding continues for accelerators

The fourth round of funding has been opened by LaunchVic to help attract start-up accelerator programs to Melbourne.

LaunchVic will invest up to $3 million per application for Australian or international accelerators.

It is hoped that attracting world-class accelerators will strategically build capability and excellence into Victoria’s local start-up ecosystem and replace the gap left by the termination of the 500 Startups contract in August.

“We said at the time we would reinvest the $2.9 million allocated for 500 Startups to another world-class accelerator program of the same calibre and we’re doing it,” said LaunchVic CEO Dr Kate Cornick.

“Successful applicants will need to demonstrate their experience in delivering a world-class accelerator that will help Victoria’s best and brightest start-ups to achieve on an international scale.”

Growing talent and expertise is a core part of LaunchVic’s strategy and something that will be essential to achieve Victoria’s potential to be a leading start-up destination.

A recently commissioned survey of the Victorian start-up ecosystem highlighted the sophisticated and diverse mix of start-ups across a variety of industries, including strengths in health, enterprise and corporate services, and media and entertainment.

LaunchVic has so far allocated 70% of its grant funding to local home-grown programs and will continue to invest at a local and a global level.

The funding round will close on 10 October. It will be supported by online information sessions.

Image credit: ©stock.adobe.com/au/freshidea

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