Victorian govt boosts startup sector with LaunchVic

New organisation backed by state’s $60m startup fund

The Victorian government has unveiled a new organisation to help boost the state’s startup sector.

The state’s small business, innovation and trade minister, Philip Dalidakis, today announced the creation of LaunchVic.

LaunchVic will seek to improve access to capital for startups in the state and invest in core infrastructure to boost the sector, a statement from the Victorian government said.

It will also run events and mentoring programs, and advocate on federal legislation and regulatrions.

LaunchVic is backed by the state government’s $60 million startup fund, details of which were revealed earlier this year.

“We want Victoria to be the location of choice for startups worldwide, and LaunchVic will make it happen,” Dalidakis said in a statement.

“The recent moves to Victoria from leading tech companies Zendesk, GoPro and Slack show that it’s within our grasp.”

“This is about encouraging young companies and ideas to create jobs and industries that will support our state for decades to come,” the minister said.

LaunchVic will be led by Dr Pradeep Philip, a former secretary of the Victorian Department of Health and Human Services.

Read more: A startup accelerator for social good

“I am excited to lead this initiative, which is another great example of Victoria’s commitment to investing in a world class innovation ecosystem that will see our brightest business minds thrive,” the organisation’s new secretary said.

“We want to work with existing organisations in the startup ecosystem to collaborate and build together a successful startup sector that will help boost jobs, grow private investment and exports and further strengthen Victoria’s economy.”

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