Victorian startup agency LaunchVic has added four new directors to its board as it gears up for 2025 with a revised focus.
They are:
- Charlie Day: CEO of Monash University spinout Jupiter Ionics and former CEO of Innovation & Science Australia .
- Chaman Sidhu: Former Chief Legal and Company Secretary roles at Xero, Envato, and Lonely Planet.
- Brigitte Smith: cofounder and managing director of GBS Venture Partners, managing $450 million of investments in life sciences.
- Geoff Tarrant: cofounder Payapps, which was acquired by Autodesk for $600 million earlier this year.
Their appointments coincided with the departure of one of LaunchVic’s strongest supporters, Victorian treasurer Tim Pallas, who announced last week that he is retiring from state politics after 18 years as the member for Werribee.
Pallas, also the minister for economic growth and industrial relations, announced last week that it was “time for me to hand over the reins” after a decade as treasurer.
In May, Pallas committed another $40 million to LaunchVic over four years, as part of the state budget.
Meanwhile, LaunchVic CEO Dr Kate Cornick said Melbourne’s startup ecosystem was maturing and had grown in value 23X from $5.6 billion in 2016 to $130 billion today.
“We have come a long way but if we are to continue to sustain this growth and compete with other global startup cities, the number of startups in Victoria needs to increase from 3,500 to more than 5,000,” she said.
The future priorities for LaunchVic in the year ahead include driving awareness and advocacy through events and campaigns; helping founders and their teams start, grow and scale global businesses; and continuing to develop the private early-stage investor landscape.
Targeted grant rounds will continue along with LaunchVic’s 30X30 program to support potential $1 billion startups and CivVic Labs.
New focus areas for LaunchVic include working with Victorian universities to boost startup creation and a new program called Basecamp, launching in February to help seed to Series A founders make their first executive hires.
On top of that, they’re planning a new investor education program, angel networks, and early-stage VC funds.
Chair Leigh Jasper said LaunchVic was focused on growth.
“We aim to see an increase in startups, stronger support systems for entrepreneurs, and more private sector funding for early-stage ventures. I welcome the new board members and look forward to contributing to this growth,” he said.
“Our new strategy aims to support the creation of as many viable early-stage startups as possible, support founders as they navigate growth; and continue to unlock private capital and develop the early stage investment landscape in Victoria. ”
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