LaunchVic tips $2.4 million into seven new pre-accelerator programs to give Victorian founders a head start

Would-be startup founders seeking a helping hand to take their first steps to tackle important problems will have seven new ways to do it thanks to a series of pre-accelerator programs bankrolled in Victoria by LaunchVic.

Seven new programs have received up to $400,000 as part of LaunchVic’s ‘Grants for Targeted Pre-accelerator’ program to offer free support

The programs focus on areas spanning high-growth industries (AI, MedTech), underrepresented groups (First Nations founders, regional Victorians), and social impact (Circular Economy, DisabilityTech).

LaunchVic CEO Dr Kate Cornick said the programs had been funded to increase the number of startups hitting the market.

“The Victorian startup ecosystem has undergone significant growth since LaunchVic was established in 2016, with the number of startups increasing 3.5 times from around 1,000 to more than 3,500,” she said.

“However, globally leading startup ecosystems support many more startups, which in turn contribute to economic growth through job creation.

It is therefore imperative that we continue to support the creation of new startups in Victoria and ensure our startup ecosystem reflects the diversity of the Victorian population.”

The magnificent seven are: Australian Medical Angels, Boab AI, the Australian Society for Medical Entrepreneurship and Innovation, Remarkable, RMIT Activator, Runway HQ and Dr Kyle Turner’s Ochre.

The programs will run across Melbourne, Geelong and Ballarat, and provide aspiring entrepreneurs with networks, support and mentorship to test out their startup ideas and find potential customers.

Dr Kyle Turner, a Wiradjuri man and founder of the dental health startup Pearlli who is launching the Ochre Indigenous Pre-Accelerator to bring more First Nations people into the sector.

“In total, we will help 40 First Nation founders over the next two years,” Turner said.

“It’s crucial we address the lack of First Nations leaders within the business community. We want to play our role in growing the ecosystem.”