Victoria awards $6.5m to support local start-ups

The Victorian Government has awarded $6.5 million in funding to 18 start-up projects as part of the new $60 million LaunchVic start-up initiative.

The funds will be used to support projects including bringing the Startupbootcamp event to Melbourne in 2017, the establishment of a joint accelerator program by La Trobe University, Deakin University and Federation University, and establishing a major start-up hub in Geelong.

Lemonade Stand, a popular start-up program for kids aged 9–12, will also receive funding to help expand into schools and online.

This is the first round of funding from the LaunchVic initiative. Applications for the second round will open next month.

“We want Victoria to be the location of choice for start-ups across the Asia–Pacific region, and LaunchVic is making it happen. These projects will help young companies and ideas develop to create jobs and industries that will support Victoria for decades to come,” Victorian Minister for Small Business, Innovation and Trade Philip Dalidakis said.

“Victoria is leading the country in start-up and small business growth, with around 8000 new businesses created in the last year alone, and we need to ensure the right support is in place to help them thrive.”

Image courtesy of Dennis Skley under CC