Victoria’s startup ecosystem has grown in value by $12 billion to surpass $100 billion according to a new report from LaunchVic. The size and scope of their success is revealed in the Victoriaʼs startup ecosystem report 2023, produced in partnership with dealroom.co, which found the combined value rose from $91 billion to $103bn in the… Read more »
Applications for the seventh round of the Victorian Medical Research Acceleration Fund (VMRAF) are now open. It offers both grants of up to $100,000 to support early-stage research projects with a practical application, as well as later-stage grants of up to $500,000 to help researchers bring their products and practices into clinical or health care… Read more »
As Victorian premier Daniel Andrews heads to the exit door this afternoon after nine years, one mess his successor will need to clean up is the government’s road-user charge for electric and hybrid vehicles, which has been branded unreasonable by state’s Ombudsman Deborah Glass. The government introduced the Zero and Low Emission Vehicles (ZLEV) Act… Read more »
A new venture capital fund looking to back medtech and deep tech health ventures is on the hunt for investors as it looks to raise up to $100 million. Synthesis Capital has emerged out of the MedTech Actuator’s Origin program, which has helped develop more than 70 leading medtech startups the past five years, including… Read more »
An updated report from Deloitte Access Economics has found the Victorian startup ecosystem has out- performed growth expectations from forecasts made in 2020. The report,“Scaling up: Growing the economic opportunity for Victoria’s startup ecosystem”, commissioned by startup agency, LaunchVic, concludes that pandemic tailwinds were kind to the sector with its value nearly doubling from $50… Read more »
Hospitality ordering app Mr Yum has been named startup of the year in the annual Governor of Victoria Startup Awards. The fintech, currently in talks with rival Me&u over a possible merger, was recognised for its role in helping the state’s restaurant sector continuing to operate during pandemic restrictions and now helping the hospitality sector… Read more »
Victoria will join NSW, Queensland and South Australia in offering a digital licence for drivers from next year. The state government announced this week that motorists will be able to carry their licence on their phone with a digital driver licence trial in Ballarat from July before a statewide roll-out by 2024. NSW pioneered the… Read more »
A virtual reality firefighter training startup spun out of Deakin University has raised $6.7 million Series A, with the Victorian government’s investment fund Breakthrough Victoria, taking a minority stake in the business for $5 million. FLAIM Systems has developed what’s believed to be the world’s first fully immersive virtual firefighting training system, offering a safe… Read more »
LaunchVic is on the hunt for a new wave of tech startups they can help turn into unicorns – companies worth more than $1 billion. The Victorian startup agency’s 30×30 program was developed with the aim to help 30 startups hit $1 billion valuations by 2030, and is now open for expressions of interest. LaunchVic… Read more »
A $10 million program to tackle recycling solar panels has been launched in Victoria. Breakthrough Victoria, a company managing a $2 billion fund set up by the Victorian government to make the state a global leader in innovation, has launched the $10 million Solar Waste Challenge, to invest in solar waste reduction solutions. More than… Read more »
LaunchVic’s Alice Anderson Fund is now a quarter of the way through its ambitious plan to back 60 female-led startups by 2024, just one year after it launched. Since launching in July 2021, the sidecar fund’s co-investments of between $50,000 and $300,000, for a combined $2.5 million, have gone to 11 early-stage startups, leveraging a… Read more »
Silicon Valley agrifood innovation investor SVG is setting up shop in Melbourne with a $50 million fund to back local agtech startups. SVG will launch its $50 million THRIVE Australia Venture Fund to invest in Australia and New Zealand agtech startups. Victorian economic development minister Tim Pallas visited California on the weekend to meet with SVG… Read more »
Former architect turned impact startup founder Julia Kay has been chosen as Young Victorian of the Year by the Victoria Day Council. Kay is the co-founder of Great Wrap, the compostable stretch wrap made from food waste. The Victoria Day Awards celebrate Victoria’s foundation following its split from New South Wales on July 1, 1851,… Read more »
Government-owned Breakthrough Victoria is tipping $100 million in pre-seed funding into startups at the state’s universities looking to commercialise research. Premier Dan Andrews and treasurer Tim Pallas set up the $2 billion Breakthrough Victoria fund, chaired by former premier John Bracks, as an independent investment fund manager investing in commercial innovations in health, technology, manufacturing,… Read more »
Sustainable energy retailer Amber Electric and medtech Seer Medical have been named joint winners of Victorian Startup of the Year in the inaugural Governor of Victoria Startup Awards, announced last night. The Awards, supported by Linda Dessau, Governor of Victoria, celebrate the state’s leaders and investors in the startup sector. She hosted the winners at… Read more »
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