LaunchVic to fund regional startup programs to further support startups

Dr. Kate Cornick, Chief Executive Officer of LaunchVic

Thousands of regional entrepreneurs will get the support they need to grow their startup ideas thanks to funding from LaunchVic, Victoria’s startup agency. Startup Central Victoria, Latrobe City Council, Mildura Regional Development and Warrnambool City Council will each receive up to $300,000 to run programs promoting startup activity in regional centres.

What is the expected reach of LaunchVic’s latest funding?

Startup Central Victoria will support over 550 startup entrepreneurs in the Loddon Campaspe region through events and pre-accelerator programs with expert regional presenters and mentors. Latrobe City Council will lead the Startup Gippsland Ecosystem Activation Program to increase ecosystem connectedness for more than 600 local entrepreneurs.

Mildura Regional Development will offer the GetUp StartUp Mildura program, which includes a skills development program and events to support at least 50 innovators in the region.

And Warrnambool City Council will partner with Moyne Shire, Corangamite Shire, Deakin University ManuFutures, South West TAFE, and Food and Fibre Great South Coast to accelerate the Great South Coast’s startup ecosystem and support at least 720 startups.

While 25% of Victoria’s population resides in the regions, LaunchVic’s 2020 ecosystem mapping showed only 3% were based in regional Victoria. LaunchVic Chief Executive Officer Dr Kate Cornick said the latest funding would be crucial in addressing these statistics.

What were the executives’ thoughts on the funding?

Minister for Innovation, Medical Research and the Digital Economy Jaala Pulford said regional startups had an exciting role to play in the State’s growth story. “Regional startups have an immense potential to contribute to Victoria’s early-stage innovation ecosystem and economy, which has doubled in value in the past year to $23.6 billion,” Jaala Pulford said.

“Connecting entrepreneurs in Victoria’s regions with innovators and other like- minded people is vitally important to build a strong culture of startup creation. This funding round is focused on supporting the growth of Victoria’s regional startup sector and giving people the support to grow tech startups – no matter where they live in the State,” Dr Kate Cornick said.

For more information about the regional funding round and recipients, visit: launchvic.org.