Vic start-ups benefit from new accelerators

The Victorian Government is investing $13.45 million in three world-class accelerators that will benefit start-ups around the state.

As part of the LaunchVic funding round, two Australian teams — SBE Australia and Skalata Ventures — will establish and operate accelerator programs exclusive to Victoria.

Techstars, an international organisation, is also in the early stages of establishing a Melbourne-based program.

The programs will cater for start-ups ranging from early-stage to mid-stage and include a generalist accelerator and two specialist accelerators to reflect Victoria’s start-up strengths in life sciences and sports tech.

“We’re making an unprecedented investment in accelerator services so that Victorian start-ups can grow to their full potential and create the jobs that will sustain our future economy,” said Minister for Innovation and the Digital Economy Philip Dalidakis.

“Victoria is Australia’s tech capital and growing our start-up sector will help us maintain that reputation while boosting our economy and creating local jobs.”

The selected accelerators have cash and in-kind funding along with powerful connections and access to global networks — a major advantage for participating start-ups looking to grow and access international markets.

Techstars has received LaunchVic funds to establish a Melbourne sports tech accelerator program for 20 start-ups over two years. It is looking for partners to support a series of start-up community events including Techstars Startup Weekend and Techstars Startup Week, as well as the establishment of an accelerator to connect founders and their teams with other entrepreneurs, experts, mentors, alumni, investors, community leaders and corporate partners.

SBE Australia will expand its world-class Springboard Enterprises accelerator program to Melbourne through the launch of a female-focused life sciences accelerator that will benefit up to 20 start-ups over three years. SBE will also deliver the E3 business accelerator program benefiting up to 60 early-stage start-ups.

Skalata Ventures will open a new accelerator program to support Victoria’s most promising scale-ups. Founded by the former leadership of University of Melbourne’s Melbourne Accelerator Program, the program will support 60 scale-ups over three years.

“We’re delighted to be supporting these accelerators which will leverage world-class local and global talent to support the growth of the Victorian start-up ecosystem,” said LaunchVic CEO Dr Kate Cornick.

“These globally connected accelerators complement the strengths of Victoria’s start-up sector and will help priority sectors including life sciences and sports tech.”

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

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