Regional startup funding to promote entrepreneurship across Victoria

Thousands of regional entrepreneurs will get the support they need to grow their startup ideas thanks to new funding from LaunchVic, Victoria’s startup agency.

Startup Central Victoria, Latrobe City Council, Mildura Regional Development and Warrnambool City Council will each receive up to $300,000 to run programs promoting startup activity in key regional centres.

Startup Central Victoria will support more than 550 startup entrepreneurs in the Loddon Campaspe region through events and pre-accelerator programs with expert regional presenters and mentors.

Latrobe City Council will lead the Startup Gippsland Ecosystem Activation Program to increase ecosystem connectedness for more than 600 local entrepreneurs.

Mildura Regional Development will offer the GetUp StartUp Mildura program, which includes a skills development program and events to support at least 50 innovators in the Mildura region.

And Warrnambool City Council will partner with Moyne Shire, Corangamite Shire, Deakin University ManuFutures, South West TAFE and Food and Fibre Great South Coast to accelerate the Great South Coast’s startup ecosystem and support at least 720 startup entrepreneurs.

While 25% of Victoria’s population resides in the regions, LaunchVic’s 2020 ecosystem mapping showed only 3% were based in regional Victoria.

LaunchVic CEO Dr Kate Cornick said the latest funding would be crucial in addressing these statistics.

“Connecting entrepreneurs in Victoria’s regions with innovators and other likeminded people is vitally important to build a strong culture of startup creation,” she said.

“This funding round is focused on supporting the growth of Victoria’s regional startup sector and giving people the support to grow tech startups – no matter where they live in the State.”

Minister for Innovation, Medical Research and the Digital Economy Jaala Pulford said regional startups had an exciting role to play in the State’s growth story.

“Regional startups have an immense potential to contribute to Victoria’s early-stage innovation ecosystem and economy, which has doubled in value in the past year to $23.6 billion,” she said.