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Australia to invest A$2.9 million in boosting startup skills and services in Victoria

Australia to invest A$2.9 million in boosting startup skills and services in Victoria

The Australian
Government announced
today
that it will invest A$2.9 million in educating thousands of Victorian
startups.

These
founder education support courses will be provided though LaunchVic, the state’s lead startup ecosystem
development agency.

“With
this targeted funding and support, there’s never been a better time to
establish a startup in Victoria,” said Minister for Innovation and the Digital
Economy Philip Dalidakis.

Under
this multi-million-dollar boost, 16 service providers have been selected to run
the education programs, with up to 2,000 places available to Victorian startup
founders and their staff.

“By
building a stronger startup sector we create innovative businesses, attract
international talent, bring money into the local economy and create local jobs,”
Minister Dalidakis added.

The
program aims to help fill the gap in founder education services. It is
estimated that just 15% of startups in Victoria go through an accelerator
program, with many startups believing they are either not ready or have moved
beyond needing intensive support.

To enhance
startup skills, topics will include export and growth skills, corporate
governance, investment support, marketing support, personal leadership and
development and engaging corporates.

The
programs will vary in length and format. They include short courses, intensive
three-day workshops, week-long courses, mentoring and online learning. The
courses are either free or at low cost.

The 16
funded LaunchVic service providers
are:

(1)   
BioMelbourne Network
to support HealthTech founders of companies who have strategic intent to expand
into global markets. The program will bring international experts to Melbourne,
to deliver skills-based workshops on global regulatory, reimbursement, market
access and commercialisation strategies, with a focus on key export markets in
US, UK, EU, China and India.

(2)   
Burch + Co
Lawyers
to educate founders on the basic legal considerations through the
lifecycle of a startup, including the responsibilities of being a founder and
director and how to develop internal and shareholder agreements.

(3)   
Catapult
Business Accelerator
to deliver an investor education program, providing
deep insights into what gets investors on the founder’s side: the right time to
connect with investors; building relationships and communicating with
investors; financial forecasts; equity; pitching and networking.

(4)   
Character to provide founders with practical,
hands-on advice on how to tell the story of their startup. The program will
equip them with the tools and templates they need to generate meaningful public
relations and marketing results with a focus on brand story, stakeholder
engagement and key communication messages.

(5)   
Cogent to help
founders build sustainable businesses through learning practical product
design, development, and management taught by leading expert practitioners.

(6)   
Common Code
to educate technical and non-technical founders on how to align their business
goals to their technology asset, how to effectively communicate with a design
and development teams and how to make informed technical decisions.

(7)   
DifferenThinking to provide founders with the
tools needed to develop their people, leadership and culture skills through all
stages of the startup life cycle.

(8)   
EM Advisory uses
tried and tested tools to help founders and their teams to create and test
their thinking, so they become investment ready. Startups will finish the
program ready to present to investors and clearly articulate a simple coherent
investment thesis and go to market strategy.

(9)   
Innovation
Bay
to equip early stage founders with the knowledge and tools to
effectively craft an investment pitch, engage investors and understand the
investment process. Founders will receive expert mentoring and an opportunity
to present to Innovation Bay’s network of investors.

(10) Inventium to teach founders online a best-practice
approach to innovation, based on science. It will help founders identify
customer driven opportunities, learn tools to generate breakthrough solutions
and make effective decisions and how to quickly and cheaply prototype ideas.

(11) Leadership Victoria to share
expertise in leadership development that will shape participating founders into
leaders for the long haul – for themselves, their current and future projects
and for the whole community.

(12) Marketing Entourage to provide
founders with the essential marketing tools to build effective strategies to
successfully go to market, stimulate growth, attract investment, scale or
expand globally.

(13) Onestack to help founders strategise and
execute for growth and export, with experts challenging startups’ strategic and
tactical plans to identify gaps and priorities.

(14) Slingshot Accelerator to run startup
B2B sales masterclasses, educating founders on processes, disciplines, and
techniques required to facilitate sales discussions with business customers,
then execute the sales.

(15) Space Tank Studio to educate
founders in design for manufacturing, IP protection, business and financial development
and in Computer Numeric Controlled (CNC) manufacturing technology for
prototyping.

(16) Start-up Boards to educate
founders on compliance, governance, organisation policy and process and bring a
capacity building mindset to help them be more resilient and realise their
potential through considering an advisory board.

According
to CEO of LaunchVic Dr Kate Cornick, supporting early-stage startups is
essential if Australia is to grow a strong pipeline of innovative businesses
from Victoria that will fuel the local economy.

“We’re
proud to offer diverse yet specialised support to our startups – this will help
our local startup founders and executives grow their businesses and strengthen
Victoria’s reputation as a leading startup hub,” Dr Cornick said.

Since
its establishment in 2016, LaunchVic has funded a total of 46 projects through
its grants program.

According to LaunchVic’s Strategic
Focus 2017 – 2019
, the organisation’s focus lies in the areas of funding,
community building and global recognition. This is to ensure that the right
startup infrastructure is in place for Victorian startups and entrepreneurs to
grow their businesses.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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