LaunchVic

LaunchVic

Up to $500,000 is available from LaunchVic to help accelerate startups, drive new ideas and create jobs in Victoria.

LaunchVic

LaunchVic

LaunchVic is an initiative investing in ideas and solutions to grow Victoria’s startup ecosystem for entrepreneurial success.

LaunchVic’s third funding round will focus on increasing diversity and inclusion, by supporting organisations to deliver programs that improve access and participation in the Victorian startup ecosystem for first generation migrants and refugees.

 

Background

LaunchVic was established in 2016 by the Victorian Government to support the development and growth of the local startup ecosystem. Since its establishment, LaunchVic has run two successful funding rounds, supporting 26 projects that will help grow the ecosystem and ensure the right startup infrastructure is in place for Victorian startups and startup entrepreneurs to grow their businesses.

LaunchVic has also reviewed its strategy to ensure the company is best placed to provide more support to stakeholders and address identified market failures that inhibit the growth of the startup ecosystem. In developing its forward strategy LaunchVic has identified key areas of focus that include: engaging the Victorian community in the startup ecosystem to address market failures; and positioning Victoria as a world-class internationally recognised startup ecosystem.

As a part of its revised strategy, LaunchVic will provide frequent funding opportunities, including grant rounds, for stakeholders to access funds to support programs that will grow the local startup community. Funding opportunities will address specific needs in the ecosystem, including increasing diversity and inclusion; and driving capability and excellence.

 

Objectives

LaunchVic works in partnership with entrepreneurs, industry, business, the community and our educational institutions to strengthen Victoria’s entrepreneurial and startup ecosystem. Its focus is to invest in the infrastructure of Victoria’s startup ecosystem to:

  • Increase Scale – More people, firms and entrepreneurial activity.
  • Improve Capability – Better, more capable startups and entrepreneurs.

Over the next four years LaunchVic will focus on a comprehensive program, including:

  • Support – Expanding the capacity of accelerators and infrastructure in Victoria.
  • Mentoring – Entrepreneur mentoring, scholarships and corporate placement programs.
  • Access – Helping entrepreneurs find ways to better navigate the system.
  • Visibility – Events and marketing campaigns to profile Victoria’s startups locally, and ecosystem internationally.
  • Overseas Talent – Attracting high profile entrepreneurs and global thought leaders to Victoria.
  • Government Policy – Advocacy around Commonwealth legislation and regulation affecting startups and entrepreneurial enterprises.

 

Funding

LaunchVic is seeking to invest between $50,000 and $500,000 per application for programs that run up to 2 years. Applications requesting more than $500,000 will be considered, but must be exceptional!

 

Case Studies

LOKE has developed a cloud-based mobile payment and loyalty platform that enables merchants to deploy and manage their own branded loyalty product. LOKE has just opened funding to raise $1 million that will help facilitate the creation of 50 new jobs over the next three years. This follows a recent announcement that the company will partner with leading digital payment giant PayPal to enable customers to connect their existing PayPal account with any of LOKE’s apps for both in-store and in-app purchases.

Timelio’s unique peer-to-peer lending platform enables Australian businesses to raise funds by selling their customer invoices. Timelio’s service is primarily designed for small to medium enterprises that require cash flow but typically have to wait up to 90 days for their corporate clients to settle invoices.

 

Eligibility

Applicants will need to address the eligibility criteria via the LaunchVic online application system. You must identify the type of organisation and project focus.

Type of Organisation

The types of organisations that are eligible to apply for Round 3 grant funding include a:

  • registered company headquartered in Victoria; or
  • registered company with offices in Victoria; or
  • registered company located outside of Victoria proposing a project to be delivered in Victoria; or
  • unregistered company that agrees to setup a registered company in Victoria

Project Focus

The project must primarily benefit Victorian migrant and/or refugees

The project must also primarily benefit:

  • existing startups; and/or
  • entrepreneurs looking to launch a startup (startup entrepreneurs)

Note: Any unsuccessful application submitted in Round 1 and Round 2 may be resubmitted in Round 3, however applicants must use the LaunchVic online application system and update the application as per the key assessment criteria to be assessed.

 

Round 2 LaunchVic Recipients

Small Ideas

Project Organisation Funding Description
Edupreneur 2017 Education Changemakers $87,000 Melbourne-based Education Changemakers is behind Australia’s growing movement of educational entrepreneurship through teacher led innovation. It has gained international recognition for its Educhange Festival and thought leadership through its book Edupreneur – an examination of change and opportunity at the intersection of education and entrepreneurship. In 2017 Education Changemakers will present the inaugural nation-wide industry event, Edupreneur 2017, in Melbourne as part of the annual Educhange Festival. The three-day major industry event aims to inspire innovation in education and facilitate clustering of education startups. It will also run a regional roadshow of the event in Geelong, Shepparton, Warrnambool and Mildura.
Outcome-Hub Outcome.Life $94,510 Outcome.life is a Melbourne based organisation focused on assisting Internationals transitioning from study to the professional workforce in Victoria. Outcome.life has established a co-working space, Outcome-Hub and in 2017 it will expand this hub to include an incubator that will support international student entrepreneurs. The hub will also match students interested in working in startups in internships at Victorian based startups through an online portal. A comprehensive events program will support the hub and inspire more internationals to get involved in the startup ecosystem.

Large Ideas

Project Organisation Funding Description
The Frankston Foundry The Frankston Foundry $154,500 The Frankston Foundry was launched in 2016 to provide a co-working space and startup incubator for entrepreneurs and technical professionals across the bayside and Mornington Peninsula region. It is committed to actively connect within Victoria’s startup ecosystem by facilitating networks between its regional entrepreneurs and the Melbourne sector. In 2017, the Frankston Foundry will hire a dedicated community manager role, and develop a program of events, including an annual hackathon, to turbo charge innovation on the Peninsula.
#SheHacks Victoria Girl Geek Academy $300,000 Girl Geek Academy is a global movement encouraging women to learn technology and create startups. Currently operating in Australia and the United States, Girl Geek Academy is committed to increase inclusion and greater representation of women and female founders in the startup ecosystem. In 2017, Girl Geek Academy will present #SheHacks Victoria – a high profile hackathon event and startup competition for over 200 women. With a focus on University students, the first Victorian statewide program will offer participants the opportunity to attend bootcamps in Melbourne, Warrnambool, Warragul and Bendigo, join a startup team, build an MVP and receive ongoing mentoring. Finalists will showcase their startups at the #SheHacks Victoria Demo Day.
Startmate Melbourne Startmate $384,000 Startmate is one of Australia’s most successful startup accelerator programs with a deep, experienced technology mentor network, and a proven track record in connecting Australian founders to global knowledge and capital. Startmate has chosen to open its program and establish its operations in Melbourne, and will accelerate 16 local tech companies over 2 years including a regional roadshow program that will connect with tech entrepreneurs in Geelong, Shepparton, Albury/Wodonga, Ballarat and the La Trobe Valley. They will create a Melbourne Startmate mentor network of 50+ of the most successful technology founders and executives who will invest in Victorian Startmate companies.
ACMI X CreativeTech Laboratory ACMI $398,000 ACMI is the world’s busiest museum of the moving image and is highly regarded as an industry leader in the development and promotion of creative industries. In 2016, ACMI opened ACMI X – a co-working space for local digital creative professionals – and a world first for a major cultural institution. ACMI will now extend its co-working space to include a CreativeTech Laboratory to incubate and grow creative startups. The laboratory will support 8 new creative companies through mentoring and facilitating connections with industry and universities. The ACMI X CreativeTech Lab will give both ACMI X participants and the wider creative tech startups access to the Museum’s huge public audience to test, refine and promote projects, as well as showcase outcomes to the industry, investor and international audiences that visit ACMI.
Disability and Health Care Innovation Hub and Incubator Seeva Plus Inc $500,000 Seeva Plus Inc is a Melbourne based social enterprise committed to innovation in the disability and health care sectors. It actively supports cultivating creative and disruptive solutions, and aims to drive greater diversity within the startup ecosystem including entrepreneurs with a disability. Seeva will establish an incubation program and launch an innovation hub that supports startups and entrepreneurs to drive change within the disability sector. The hub will bring together community, consumers, businesses, entrepreneurs and startups to work collaboratively while offering a place for people with a disability, chronic health condition and older people to cultivate their own business ideas.

 

Round 1 LaunchVic Recipients

Small Ideas

Project Organisation Funding Description
Bright Sparks RMIT University $100,000 Bright Sparks is a leadership program to inspire, connect and prepare the next generation of female entrepreneurs in Victoria. Female students, alumni and staff at RMIT will be given a head start in business through a network of Australian and international mentors and an intensive leadership program in San Francisco.
Digital marketing makerspace Western BACE $50,000 The only combined co-working space and business accelerator in Western Melbourne’s Growth Corridor will receive funding to create the “Digital BACE marketing makerspace”. Local startups will be given expert support to use 3D printing, virtual reality software, computers and video cameras for marketing activities.
Employment based social enterprise pipeline Social Traders $100,000 Focusing on jobs for people facing barriers to work – in Melbourne, Ballarat and Wodonga – this program will strengthen the pipeline of accelerator-ready social enterprise ideas through workshops, networking events, clinics and pitch fests targeting women, youth and multi-cultural groups.
Fintech Melbourne Fintech Melbourne $30,000 Fintech Melbourne is a community run organisation for the benefit of the Victorian fintech community. It is Australia’s largest fintech community with 1800 members and provides tremendous value and support to the local ecosystem. This has all been accomplished through volunteer efforts but due to the scale of events, support is required to make Fintech Melbourne sustainable in the long term.
Launch Clubs The Foundation for Young Australians $75,000 Launch Clubs aims to harness the energy and passion of young Victorians and build a network of local hubs, based in regional communities, where young people develop the skills and capabilities to test and launch their own enterprises. There is an urgent and vital need to support young people in regional Victoria to develop entrepreneurial skills that can open pathways to self-employment, job creation and the revitalisation of regional economies. Launch Clubs will be trialed in Bendigo and Traralgon and is designed so the model can be scaled State-wide.
Lemonade Stand: startups for kids Collective Campus $100,000 Lemonade Stand is a two-day business building and entrepreneur program for 9-12 year olds, currently run during school holidays. LaunchVic funding will help expand the program into schools and online, significantly increasing the scale and reach of the program and inspiring a new generation of young entrepreneurs.
Young Entrepreneurs Mentoring Scheme iGen Foundation $70,000 Young Entrepreneurs Mentoring (YEM) pilot provides 15-30 year olds with entrepreneurial skills and knowledge as well as the networks to help them unlock doors to new business opportunities.

Large Ideas

Project Organisation Funding Description
A world class tech and startup destination Convenory Campus $200,000 Convenory Campus aims to build a world class tech and startup destination at the Abbottsford Convent featuring share-laboratories, conference facilities, hardware assembly, on-demand childcare and co-working zones. LaunchVic funding will lay the foundation for the Convenory team to bring their vision to reality.
Australian Sports Technologies Network Australian Sports Technologies Network Ltd $280,000 Melbourne is a world leader in sport – now the aim is to make Melbourne the world leader in sports technology. LaunchVic funding will enable an entrepreneur-in-residence – supporting 15-20 sports tech startups over a two year period – as well as development of a best practice playbook and hosting of a World Championships for Sports Analytics.
Cybersecurity Incubator Dimension Data $450,000 Dimension Data and Deakin University will set up a cyber security incubator in order to accelerate the development of unique cyber security solutions and intellectual property. Located at Deakin’s Waurn Ponds campus, the incubator will help address the burgeoning skills shortage in the Australian cyber security industry.
Dream Factory makerspace Inspire9 $650,000 Co-working business Inspire9 will establish a makerspace in the new Dream Factory building in Footscray, providing startups, entrepreneurs, artists and hobbyists with access to facilities such as 3D printing, digital sewing, laser cutting and a virtual reality lab. The aim is to unlock digital manufacturing capacities in a region that has seen traditional manufacturing in decline.
Harnessing the experienced economy Fifth Institute $200,000 Startups aren’t just for the young. The Fifth Institute aims to lift the number and success rate of startups emerging from the experienced economy (those aged 50 and over). This will tap into the emergence of ‘seniorpreneurs” as the fastest growing segment of new business owners in Australia.
Launching agtech startups Rocket Seeder $675,000 A startup accelerator program focusing on supporting innovation in agricultural technology, Rocket Seeder will support motivated agtech entrepreneurs with a comprehensive coaching program and will connect them with mentors, industry partners, and investors. Linking city and country, there will be a Melbourne-based hub with programs initially in Shepparton, Sale, Geelong, Bendigo, Ballarat, Colac, Horsham, Wondonga, Mildura and Warrnambool.
Regional Accelerator Program La Trobe University $1 million A regional accelerator program, led by La Trobe University and including Federation and Deakin Universities, will harness the best and brightest minds of regional Victoria to boost the economy and agricultural jobs. Participants will have access to funding, office space, structured mentoring programs, networking and local, national and international pitching opportunities.
Runway Runway $1.25 million This major startup initiative in Geelong will act as a catalyst for innovation in the region, creating new businesses and jobs through the provision of mentoring, networks, training and access to venture capital. Its objective is to launch a startup culture in Geelong that will establish the city as a global centre for innovation and entrepreneurship.
StartupBootCamp Melbourne Startupbootcamp $600,000 Startupbootcamp, the world-renowned accelerator network has received LaunchVic funding to develop and scale startups in the fields of Internet of Things (IoT) and Data Tech. With a planned launch in 2017, Startupbootcamp will be inviting Asia-Pacific’s best IoT and data startups to come to Melbourne to join and boost the local ecosystem. Startupbootcamp accelerator programs offer startups access to a global investor and mentor network, which will encourage overseas corporations to look to Melbourne for IoT and data solutions.

LaunchVic Funding

Project Organisation Funding Description
Fintech Ecosystem Fintech $300,000 LaunchVic has entered into an exclusive partner arrangement with FinTech Australia to host the inaugural FinTech Australia conference in Melbourne in November this year. This will be the largest gathering of domestic and international FinTech players in the country and will be a major boost for the local community. In addition, LaunchVic in partnership with the Victorian Government and the FinTech community, will soon be developing a FinTech strategy to guide the development of, and investment in, the FinTech ecosystem in Victoria.
Startup Victoria Startup Victoria $300,000 LaunchVic has partnered with Startup Victoria to deliver two key projects for the Victorian startup community. The first involves developing a digital platform that will be a single source for the Victorian startup ecosystem to find information about events, jobs and funding opportunities. Startup Victoria will also undertake extensive mapping of the ecosystem providing deeper insights into the current state of the ecosystem and how we should direct our efforts to stimulate growth.

 

Timing

  • Applications for Round 3 close 5 July 2017.
  • Information session: 10am – 11am Wednesday 14 June 2017 (Location: Docklands).
  • Information session (online): Friday 23 June 2017

 

More Information

Media Release

Projects that support Victorian migrants and refugees to develop startup businesses are being sought as part of LaunchVic’s third round of funding.

The Andrews Labor Government’s $60 million startup fund, LaunchVic, today unveiled its new forward plan and announced it will encourage more migrants and refugees to get involved in Victoria’s startup sector.

Some of the world’s most successful and innovative companies have been started by immigrant entrepreneurs including Tesla, eBay, Google and Victoria’s own Kogan.

Research shows that migrants and refugees are twice as likely to start a business as those born locally and are more willing to take business risks – meaning they are perfectly suited to the startup world.

LaunchVic will invest between $50,000-$500,000 per application for organisations to deliver quality educational, acceleration, incubation, mentoring or other programs for Victorian migrants and refugees.

The Labor Government established LaunchVic in March 2016. It has since held two successful funding rounds and invested in 26 projects that will help grow Victoria’s startup sector.

LaunchVic has refreshed its focus for the next two years to ensure it is meeting the needs of the startup sector and addressing market failures. This means  higher quality startup founders and a stronger investor community.

Applications for Round 3 funding open on 1 June 2017 and close on 5 July 2017. Funding guidelines and more information is available at launchvic.org.

2017-06-06T08:49:49+00:00
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