Victoria’s prominent start-up agency LaunchVic is set to receive funding from the Victorian Government following the government’s budget announcement.
The Victorian Government will provide $40 million in funding for LaunchVic to continue fostering the capabilities and confidence of aspiring innovators, creators and entrepreneurs in the state, as well as supporting its thriving start-up ecosystem.
It is noted that Victoria is home to more than 3400 start-ups, many of which have benefited from LaunchVic’s support. LaunchVic is looking to nurture more start-ups with the help of this fresh infusion of funding.
Leigh Jasper, Chair of LaunchVic, expressed gratitude for the government’s decision.
“The Victorian government should be commended for its commitment to the local start-up sector through the refunding of LaunchVic for a further four years,” Jasper said. “This is a great vote of confidence in LaunchVic and the role it has played in driving massive growth for Victoria’s start-up sector.
“The funding also comes at a pivotal time for the Victorian start-up sector,” Jasper added. “If we are to become a truly global ecosystem, there’’ still a lot more we need to do to unlock start-ups, capital and talent. I’d like to publicly acknowledge LaunchVic’s CEO Dr Kate Cornick, the LaunchVic Board of Directors and the LaunchVic team who are united in their desire to see start-ups succeed in Victoria.”
