FAQs - LaunchVic

About LaunchVic

What does LaunchVic do?

LaunchVic is Victoria’s startup agency. We were established by the Victorian Government in March 2016 as an independent agency responsible for growing the State’s startup ecosystem.

We do this by building the confidence and capability of Victorians to create, scale and invest in startups. Through our work, we are driving improvements in the startup investment landscape by developing the angel investor and early-stage venture capital markets in Victoria; supporting programs that build founder, investor, and talent capabilities and confidence; and continuing to drive awareness and advocate for startups.

Operating in a dynamic, fast-paced environment, we have strong links with Victorian startup founders, Venture Capitalists (VCs), angel investors and community partners such as accelerators, co-working spaces and other service providers.

What are LaunchVic's strategic priorities?

Priorities for LaunchVic include driving continuous improvements in the startup investment landscape and early-stage venture capital market in Victoria; supporting programs that will grow more scaleups; and awareness and advocacy for Victoria’s startup ecosystem.

How do you define a startup?

LaunchVic defines startups as young technology-based businesses that use innovation to scale rapidly and capture global markets. Examples of technology include: software / app, artificial intelligence (AI), blockchain, advanced manufacturing & robotics, Internet of Things (IoT), big data analytics, augmented / virtual reality, 3D printing, advanced materials, genomics & life sciences (including BioTech & MedTech) and autonomous vehicles.

What is a startup ecosystem?

The startup ecosystem is made up of founders, investors, startup employees, community organisations, corporates and government. Working together, we can collectively create a pipeline of successfully scaling startups that contribute to jobs and Gross Domestic Product.

Grants and Funding

What sort of programs does LaunchVic fund?

LaunchVic invests in organisations that deliver education, acceleration, incubation, mentoring, competitions, events or other programs that support Victorian startups with high-impact potential, that use innovation and/or address scalable markets. 

Does LaunchVic provide sponsorship to the community?

We are reviewing our approach to sponsorship and are unlikely to be making any major sponsorships in the current financial year.

Does LaunchVic take equity in programs?

LaunchVic has a responsibility to maximise the impact of the funds it administers. This can, in certain circumstances include investing into programs, rather than granting funds, to drive a return on investment. Any returns can then be recycled to generate even greater impacts for the Victorian startup ecosystem.