LaunchVic, the Victorian Government’s $60 million startup initiative, has today announced the grant recipients in its second funding round, totalling $4.9 million.
Seven recipients were today revealed, each set to receive an amount below $1 million; projects receiving larger grants are to be revealed in the upcoming weeks.
Each grant in the second round has been matched with an equal or greater cash and in-kind investment, bringing the total investment for the selected organisations to $11.6 million.
Speaking about the announcement, LaunchVic’s CEO Kate Cornick reinforced the initiative’s goal to boost Victoria’s position as a global startup leader.
“LaunchVic works together with the entrepreneurial sector to drive solutions that will transition startups to future businesses. We will invest and partner in ideas, expertise and infrastructure to grow Victoria’s thriving startup ecosystem,” she said.
Philip Dalidakis, Victoria’s Minister for Small Business, Innovation and Trade, said, “These are the programs that will help young companies and ideas develop to create jobs and industries that will support our state for decades to come.”
Among the funding recipients in this second round is Sydney-based accelerator Startmate, which will use the funding to run an annual regional tour to help connect entrepreneurs with its experienced network, in addition to running accelerator programs in Victoria.
Also receiving funding is Girl Geek Academy, which will be looking to roll out its #SheHacks Victoria event, a state-wide women-only hackathon aiming to encourage the development of new technology businesses.
The organisation received $300,000 from LaunchVic, adding to the $1 million in ‘support’ it has brought in from partners including education startup GO1.
Sarah Moran, cofounder and CEO of Girl Geek Academy, said it’s challenging for women to find founders to partner with, a process that the #SheHack program aims to overcome.
“This backing is a crucial step in rolling out our mission of helping more women to become a viable part of Victoria’s startup and technology ecosystem,” said Moran.
LaunchVic’s first funding round was announced last August, with regional innovation a key theme.
Among those receiving funding was Runway Geelong, an initiative that will look to turn Geelong into a major global hub for innovation and entrepreneurship through the establishment of networks and provision of training, mentoring, and access to funding.
La Trobe University’s regional accelerator program, which will look to boost the state’s regional economy and agricultural jobs, was awarded $1 million in funding, while $450,000 was given to Dimension Data and Deakin University to establish a cybersecurity incubator at Deakin’s Waurn Ponds campus, to go along with the cybersecurity degree the university is launching this year.
The recipients in this second round are:
ACMI – the funding will extend its coworking space, ACMI X, into a creative tech laboratory.
Outcome.Life – the fresh funding will help the organisation run a range of collaborative industry programs and internships to attract and retain international student graduate startups in Victoria
Seeva – to help develop an innovation hub and incubator that supports startups and entrepreneurs to drive change within the disability and health sectors
Frankston Foundry – will grow a regional innovation hub that will provide a conduit between Melbourne’s startup ecosystem and the state’s southern regions
Education Changemakers – will facilitate education startup clusters through its ‘Edupreneurs’ program, a three-day event and regional road show
Image: Geek Girl Academy. Source: Supplied.