Vic government unveils startup launch pad

Vic government unveils startup launch pad

New organisation backed by Labor's $60 million startup fund

The Victorian government on Friday announced a new body that will grow the tech startup community and create jobs across the state.

LaunchVic, backed by the Labor government's $60 million startup fund, will provide the right environment for entrepreneurs to develop, incubate and grow early-stage innovative businesses.

The organisation will be headed by CEO Dr Pradeep Philip, the former secretary of the Department of Health and Human Services. Dr Philip left the department in mid-September after being appointed by Victorian premier, Daniel Andrews, to lead the new innovation initiative.

Dr Philip will be supported by an advisory board of industry experts, who will work to strengthen and build the current operating environment of the state's startup ecosystem, the Victorian government said.

LaunchVic will invest in core infrastructure, improve access to capital for local startups, advocate on Commonwealth legislation and regulation, as well as engage in startup events, campaigns, competitions and mentoring programs.

Victorian minister for small business, innovation and trade, Philip Dalidakis,said the government wants Victoria to be the location of choice for startups worldwide.

"LaunchVic will make it happen. The recent moves to Victoria from leading tech companies Zendesk, GoPro and Slack show that it’s within our grasp," he said.

“Ideas are the future. We’ve doubled Victoria’s economic growth in a year, leaving others behind. This is about encouraging young companies and ideas to create jobs and industries that will support our state for decades to come.”

Dr Pradeep Philip added that the government wanted to work with existing organisations

“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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