Victoria Government to fund regional startups through LaunchVic

An announcement made by the Victoria Government highlighted the funding it will invest to increase access and participation of regional Victorian communities to the booming startup sector of Victoria.

Minister for Innovation and the Digital Economy Philip Dalidakis said, “Every startup has a role to play in Victoria’s future, whether they’re from Mildura or Maribyrnong, and this investment will ensure regional Victorian startups have access to the same resources as those in the city.”

A$2.4 million will be invested by the Andrews Labor Government to boost access and participation in the booming startup sector of Victoria. Focus will be directed towards the regional Victorian communities.

According to the report, the funding will be invested by the Victoria Government through LaunchVic and will be supporting 15 projects, such as boot camps, mentoring, meetups, hackathons, masterclasses and workshops, across 26 local government areas in Victoria.

Funding will range from A$50,000 to A$400,000 in order to support start-up and entrepreneurial activity in the local regions.

Councils in regional Victoria, such as Warrnambool, Corangamite, Moyne, Ballarat, Latrobe, Wellington, Bass Coast, Baw Baw, Towong, Benalla, Indigo, Mansfield, Wangaratta and Mildura, are set to receive either direct or consortia funding.

Moreover, the Councils that are set to receive funding in Melbourne include Whittlesea, Melton, Casey, Cardinia, Brimbank, Moreland, Maribyrnong, Hume, Dandenong, Wyndham, Hobsons Bay and Moonee Valley.

According to the annual Mapping Victoria’s Startup Ecosystem survey by LaunchVic, only 3% of the state’s startups are located outside of inner Melbourne. They are distributed across only three regional centres in Geelong, Bendigo, and Ballarat.

This investment complements the Startup Guide and Toolkit of LaunchVic which was released late last year to help councils secure funding to implement programs and activities that nurture startup activity and encourage greater participation within their communities.

Minister for Regional Development Jaala Pulford said, “Ballarat is already establishing a great startup culture and we’re excited about regional Victoria taking full advantage of its potential.”

LaunchVic CEO Dr Kate Cornick said, “LaunchVic has prioritised diversity and inclusion as part of its strategy and this funding complements previous activities by supporting entrepreneurs in outer Melbourne and our regions.”

A recent announcement that was released earlier reported on the funding invested by the Victoria Government through LaunchVic in order to accelerate the growth of health startups and capitalise on the strong medical industry in Victoria.

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