State government backs Startup Victoria with $100k

Victoria's technology minister has officially launched the not-for-profit organisation

The Victorian government has backed Startup Victoria to the tune of $100,000. The state's technology minister, Gordon Rich-Phillips, yesterday officially launched the nonprofit organisation whose mission is to aid fledgling startups in Victoria.

"[H]igh technology startups have particular needs that distinguish them from many other businesses while also having capacity to make a major contribution to the economic and cultural life of our society," the minister said in a statement.

"New technology companies have to deal with a wide range of issues, including sourcing venture capital, managing fast growth, risk/return ratios, decision-making, corporate and industry culture, product development, distribution and marketing.

"Startup Victoria will work with startup clusters across the state to bring together the people, networks and resources needed to help technology entrepreneurs handle these issues and position their ventures for sustainable growth."

Startup Victoria has more than 120 volunteers and three initial investors, according to Rich-Phillips.

The organisation will offer paid and free membership options. 'Premium' membership for individuals costs $99 a year, while businesses can sign up for $5000 a year, which entitles them to offer discount services and products targeted at Startup Victoria members.

The founders of the nonprofit are the organisers of the monthly Lean Startup Melbourne events.

Startup Victoria's board of directors includes Leni Mayo, Michelle Bourke, Scott Handsaker and Brendan Lewis.

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