Startup Funding Programs | Adjournment

Ms VAGHELA (Western Metropolitan) : My adjournment matter is directed to the Minister for Employment, Minister for Innovation, Medical Research and the Digital Economy, and Minister for Small Business, the Honourable Jaala Pulford, MP.

On 30 August the minister announced $1.3 million in preaccelerator funding through LaunchVic to support a new generation of entrepreneurs and to create high-value jobs for Victorians. The funding to back the new generation of startup innovators will support programs for female entrepreneurs as well as aspiring founders.

Preaccelerator programs provide entrepreneurs with access to the best possible support, advice and networks to build new companies that will help to shape our future economy and grow jobs.

LaunchVic, Victoria’s startup agency, has selected six service providers to deliver preaccelerator programs for aspiring founders: SBE Australia, Atto Accelerator, Latrobe City Council—Startup Gippsland, Australian Sports Technologies Network (ASTN), University of Melbourne’s Melbourne Accelerator Program (MAP) and Roshambo.

Roshambo will act as a network of preaccelerators in partnership with local councils in Melbourne’s west while Startup Gippsland will assist entrepreneurs to build the capability and networks needed to successfully run tech-based businesses.

MAP will expand its Velocity program to support entrepreneurs from across Victoria. Female founders will benefit from the programs being delivered by SBE Australia and Atto Accelerator. ASTN will deliver the SportsTech preaccelerator program.

The Victorian startup sector supports almost 19 000 jobs and could contribute an additional 15 000 jobs each year over the next 20 years, according to Deloitte Access Economics.

There is capacity in Victoria to make significant advancements—startup density in Victoria is currently 300 startups per 1 million people compared with territories such as Vancouver, Singapore and New Zealand that have at least 500 startups per million population.

The action I seek is for the minister to direct her department to provide an update on how aspiring founders in the Western Metropolitan Region can access these preaccelerator programs to support the development of their business.