LaunchVic is the Victorian Government’s initiative to accelerate startups, drive new ideas and create jobs in Victoria. Its aim is to invest in the infrastructure of the ecosystem to support startups and entrepreneurs.
A public call for proposals has just been released as part of its first round of funding. Applications for the first round close 6 May.
Proposals that demonstrate their benefit to Victoria and the ecosystem, which highlight how they will ‘give back’ to the ecosystem, and which promote gender, cultural, and economic diversity will be viewed favourably in the assessment for funding.
With a strong focus on effective collaboration and practices, LaunchVic will aim to help create a better community for entrepreneurs to develop and grow early-stage businesses. This includes investing in core infrastructure, improving access to capital, advocating on legislation and regulation, as well as engaging in startup events, campaigns, competitions and mentoring programs.
Who can apply?
Entrepreneurs, businesses, educational institutions and the community.
What is the funding amount available?
This funding round is comprised of two components focussed on small ideas and large ideas.
1. Small ideas
The first small funding round will support initiatives or projects up to $100,000 (one-off payments) that build startup infrastructure in areas that are currently underdeveloped such as regional areas, social entrepreneurship and diversity.
2. Large ideas
The first large funding round is designed for a small number of sizable proposals from both existing and new organisations which significantly enhance Victoria’s startup ecosystem – not startups themselves. For large ideas, a two-stage process will be used.
Stage 1 – Submit proposals identifying the range of services they intend to provide, including mentoring, training, professional services, investor linkages, demo days, challenges, events, immersion programs, diversity initiatives and external partnerships.
Stage 2 – Successful applicants may undergo a facilitation or brokering process where LaunchVic will work with them to build on initial applications to refine proposals that will be formalised through a service agreement.
With respect of ‘Large ideas’, LaunchVic is interested to receive submissions around the notion of ‘LaunchHubs’ that will work together cohesively to build capability and competitiveness of startups and growth firms within a clearly defined community. Each LaunchHub would be eligible for seed funding for up to three years, which would be expected to be at least matched by partner contributions. LaunchHubs will be expected to secure additional cash and in-kind contributions from industry and research organisations to expand the range of activities and services offered by the Hub.
How to apply.
Applications should be submitted through the LaunchVic Website (launchvic.org) by completing the online form and attaching relevant documents.
- Value-add to Victoria’s acceleration, incubation and co-working capabilities.
- Programs that are ambitious, creative and have a global orientation that will deliver maximum impact and support for Victorian entrepreneurs and startups/scaleups.
- Strengthen ecosystem collaboration and diversity, including gender, cultural and economic.
- Credible financial projections.
Proposals should also articulate what the funding will be used for and how it satisfies the above criteria and program objectives.
Round 1 Funding Program commences on 11 April 2016. Applications for the first round close 6 May.
Want to get the best possible result out of your Application?
Working with Treadstone means you get the maximum rebate you are entitled to with minimum risk and effort. We provide expert advice and take care of your application, allowing you to continue to focus on your essential business operations. Treadstone are an experienced, outcome focused team with a proven track record of success. To ensure you have the best chance of getting grant funding contact us or call 03 9008 5937.