Startup funding pool deepens with arrival of Startmate - LaunchVic

Startup funding pool deepens with arrival of Startmate


30 Mar 2021 by Holly Clark

Last Updated: Tuesday, 30 March 2021

The Andrews Labor Government will invest $1.8 million in Startmate, one of Australia’s leading accelerator programs, to continue to strengthen the investor landscape and lift the capability of Victorian startups.

More than $580,000 will go to Startmate to deliver a dedicated accelerator program for 30 Victorian startups over three years, establish a permanent Victorian office and recruit a local workforce.

Startmate will also establish an investor program raising $3 million over three years to be invested into Victorian startups that complete the Startmate Melbourne Accelerator program.

The state’s startup agency LaunchVic will invest $1.25 million in two of these funds to support Startmate to sustainably build their Melbourne footprint, which will improve local startups’ access to capital and support.

Since its inception in 2010, Startmate has invested in more than 130 startups across Australia and New Zealand with a combined valuation of over $1 billion, which have since created more than 1,500 jobs.


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About LaunchVic

LaunchVic is Victoria’s startup agency.

Our role is to fuel the growth of Victoria’s startup ecosystem. We do this by building the confidence and capability of Victorians to create, scale and invest in startups.

We were established by the Victorian Government in 2016.