$3.1 Million to support startup growth in Victoria

Last Updated: Wednesday, 26 October 2022

LaunchVic will help to fast track the growth of up to 160 Victorian startups through a new $3.1 million investment in three world-class accelerator programs.

ANDHealth, Antler and Climate Salad will receive up to $1.4 million each to support startups to get the investment and assistance they need to scale.

ANDHealth, a leading digital commercialisation program, will support Victorian startups working in HealthTech through a new accelerator connecting the next wave of health innovators with investment and commercialisation opportunities.

Global venture capital firm Antler will expand its presence in Victoria with funding to hire a local team that will accelerate their activities in the State.

And Climate Salad will receive $1.4 million to launch a Global Impact Incubator and catalyse $2.4 million investments into startups in the sustainability space.

LaunchVic’s funding will cover operational costs and enable an $800,000 investment into participating startups.

LaunchVic CEO Dr Kate Cornick said with more than 2,600 startups calling Victoria home, the need for tailored support, mentorship and networking opportunities was greater than ever.

“By backing programs with a proven track record of helping founders, we will ensure LaunchVic supports our rapidly growing ecosystem,” she said.

Minister for Innovation, Medical Research, and the Digital Economy, Jaala Pulford said: “Supporting growth in early-stage startups is critical to ensuring there is a continued pipeline of scaling companies that can contribute to Victoria’s economic prosperity.”

Since 2016, LaunchVic has successfully invested in 19 accelerator programs, which have helped more than 600 Victorians to launch their startups