Grants

Accelerating the next generation of Victorian AI and DeepTech startups

Timings for this grant round:
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Overview

The Victorian startup ecosystem has undergone significant growth in the past 8 years, with the number of startups increasing over three times from around 1,000 to over 4,300. However, globally leading startup ecosystems support many more startups, which in turn contribute to economic growth through job creation. It is therefore imperative that we continue to support the creation of new startups in Victoria.

Pre-accelerator programs have proven to be one of the most effective ways to stimulate startup creation. These programs provide aspiring founders with the early-stage support, mentorship, and networks needed to turn ideas into viable businesses, strengthening Victoria’s pipeline of innovative companies.

Building on the success of 30 previously supported pre-accelerator programs across a range of sectors, LaunchVic is now seeking to fund new pre-accelerators that support early-stage founders focused on building AI and DeepTech Startups.

Encouraging more early-stage founders to develop AI and DeepTech Startups will help strength Victoria’s position as a leader in emerging technologies.

LaunchVic welcomes pre-accelerators targeted on the Victorian Government’s priority sectors including health technologies, circular economy, agribusiness, digital technologies including AI and quantum, and advanced manufacturing and defence. Sector agnostic pre-accelerators may also apply, however they should demonstrate a strong AI or DeepTech component in their service delivery.

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Media Release

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$50,000 grants for AgTech founders.

Timings for this grant round:

Overview

LaunchVic has again partnered with Agriculture Victoria to increase support for early-stage AgTech startups across Victoria by rapidly providing small amounts of working capital to help startups build capability and move to the next stage of growth.

As well as providing funding to cover operating costs that build startup capability and growth for early-stage AgTech startups, the grant will provide access to business development services that will enable founders to access the best possible support and advice to build their businesses, grow jobs, and support Victoria’s economic growth.

View the Program Guidelines (v2.4 reissued 4 Oct 2024)

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View A Sample Contract

Increasing the early-stage startup investor pool.

Timings for this grant round:
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Overview

Victoria’s startup ecosystem has undergone phenomenal growth in the past few years, and there are now over 3,500 startups in the State. However, LaunchVic’s data shows the amount of early-stage capital flowing to startups has not changed commensurately. and there is a continued lack of early-stage capital.

Investor Education programs play an important role in driving investment capital to startups by supporting new investors to understand the sector and build the confidence to invest. To date, Investor Education programs that have been supported by LaunchVic have educated over 200 investors and activated over $84 million in the startup ecosystem.

LaunchVic recognises there is more work to do to continue increasing access to early-stage capital for Victorian founders. By supporting operational funding for Investor Education programs, LaunchVic seeks to encourage an increase in the number of active early-stage investors and unlock more capital for early-stage Victorian startups.

View the Program Guidelines (v1.1 issued 25 Oct 2024)

Register for the Information Session

Read our FAQs

Apply Online

• Alignment with strategy: The proposal is strongly aligned with the LaunchVic Strategy.
• Uniqueness: The applicant is uniquely placed to deliver the proposal.
• Expertise: The applicant possesses the level of professional expertise required to deliver a successful outcome with minimal risk of failure.
• Impact: The applicant has described an excellent program that has a genuine need by the target audience and will impact and benefit the Victorian startup ecosystem.
• Need for funding: There is a credible need for LaunchVic funding.
• Value for money: The program must be value for money.
• Sustainability: The program has a pathway to sustainability, either by creating self-sufficiency or through supporting the startup ecosystem to be more sustainable.

Any proposal that does not meet all of these criteria will not be reviewed.

LaunchVic will endeavour to review all unsolicited proposals, and provide feedback, but is under no obligation to do so.

Any proposal considered appropriate for funding will undergo further assessment and due diligence in accordance with the process for all grants awarded by LaunchVic.

Any approved applicants must also undergo due diligence by LaunchVic.