Victoria

Funding boost to fuel regional startups

The Victorian Government will invest $2.4 million to boost access and participation in the state’s booming startup sector, with a focus on regional Victorian communities.

The funding will be invested through LaunchVic and will support 15 projects across 26 local government areas in Victoria – ranging from $50,000 to $400,000 to support startup and entrepreneurial activity in local regions.

Projects include bootcamps, mentoring, meetups, hackathons, masterclasses and workshops.

Councils in regional Victoria set to receive either direct or consortia funding include Warrnambool, Corangamite, Moyne, Ballarat, Latrobe, Wellington, Bass Coast, Baw Baw, Towong, Benalla, Indigo, Mansfield, Wangaratta and Mildura.

Councils set to receive funding in Melbourne include Whittlesea, Melton, Casey, Cardinia, Brimbank, Moreland, Maribyrnong, Hume, Dandenong, Wyndham, Hobsons Bay and Moonee Valley.

LaunchVic’s annual Mapping Victoria’s Startup Ecosystem survey revealed only 3 per cent of the state’s startups are based outside inner Melbourne, and are distributed across just three regional centres in Geelong, Bendigo and Ballarat.

This investment complements LaunchVic’s Startup Guide and Toolkit released in late 2017 to help councils secure funding to implement programs and activities that nurture startup activity and encourage greater participation within their communities.

Source: Victorian Government