The Victorian Government’s independent startup body LaunchVic has announced it is moving to terminate its partnership with troubled startup accelerator and fund 500 Startups on the heels of the resignation of Rachael Neumann.
Tank Stream Labs has announced that it will be hosting ‘Female Entrepreneur Week’ to support female entrepreneurs and increase diversity.
LaunchVic has to break ties with 500 Startups, pull the $2.5 million subsidy, and take a stance against unethical behaviour in general.
Silicon Valley startup accelerator 500 Startups over the weekend announced its expansion to Melbourne, thanks to funding from the LaunchVic program.
500 Startups is doing something novel in reaction to the mythical Series A crunch. Instead of whining about it or writing some grandiose blog post about whether or not there actually is a growing trend of seed stage companies not being able to get funding, the micro VC/accelerator is actually taking action. [Source: Pando.com]
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