LaunchVic, an independent body established by the Victorian Government to oversee Victoria’s innovation fund, has announced that they will encourage particularly first generation migrants and current refugees in developing tech companies and support them through their next round of grants.
LaunchVic published a new strategy for the next two years. The organisation aims to support the development and growth of the local start-up ecosystem.
LaunchVic has 2 main goals:
- Engaging the Victorian community in the start-up economy
- Positioning Victoria as an internationally recognised start-up economy
LaunchVic is specifically looking to invest in organisations that will provide quality educational, acceleration, incubation, mentoring, or other programs that will support Victorian migrants and/or refugees to develop start-up businesses.
Applications for their third round of funding are open now! Applications must be submitted via LaunchVic online application system by 5 July 2017 (5pm AEST). Applicants will need to address the eligibility criteria.
The following types of organisations are approved for round 3 funding:
- A registered company headquartered in Victoria
- A registered company with offices in Victoria
- A registered company located outside of Victoria proposing a project to be delivered in Victoria
- An unregistered company that agrees to setup a registered company in Victoria
The projects eligible for round 3 funding are:
- Projects that primarily benefit Victorian migrants and/or refugees
- Projects must also primarily benefit:
- Existing start-ups and/or
- Entrepreneurs looking to launch a start-up (Start-up entrepreneurs)
LaunchVic is looking to invest between $50,000 and $500,000 per application for programs that run up to 2 years.
Innovation Minister Philip Dalidakis said that research shows that migrants and refugees are twice as likely to start their own business as those born locally, and are more likely to take risks. He also pointed out that this funding round exclusively designed for refugees and migrants in the start-up sector should demonstrate the organisation’s inclusiveness, diversity, tolerance and plurality.
With this new focus, LaunchVic is pursuing its goal of establishing Victoria as a world class start-up ecosystem. We encourage all eligible migrants and refugees to apply for this outstanding opportunity and support from LaunchVic.