Victoria’s government-backed startup agency, LaunchVic, is supporting three local accelerator programs with a total of $3.1 million in funding.
CEO Dr Kate Cornick, the funds will help accelerate the growth of up to 160 local startups.
“By supporting programs with a proven track record of helping founders, we will ensure LaunchVic supports our burgeoning ecosystem,” she said.
Healthtech commercialization program ANDHealth and the newly formed Climate Salad will each receive up to $1.4 million.
Antler, who has been operating in Melbourne since 2020, increasing his presence there and hiring a community manager, will receive $360,000.
LaunchVic donated $1.25 million into the Startmate accelerator program last year, backed by VC Blackbird and Atlassian billionaire Mike Cannon-Brookes, and has now invested in 19 accelerator programs over six years to help more than 600 Victorians launch startups.
Mick Liubinskas co-founded Climate Salad last year with the ambition to help 1,000 Australian climate technology companies create global environmental solutions.
The $1.4 million is for the launch of a Global Impact Incubator, with $600,000 for operating expenses and the remaining $800,000 to invest in participating startups and catalyze $2.4 million in additional investment in them.
“We have grown to 320 companies in the past year in agriculture, circular economy, energy, storage, nature-based solutions, carbon accounting and more,” said Mick Liubinskas.
“There is a strong base of climate technology companies, mentors, business partners and investors in Victoria. This grant from LaunchVic and our partnership with Ecotone will help us build the state ecosystem and develop globally competitive businesses.”
ANDHealth’s new Activate accelerator is a nine-month curriculum-based program for digital health companies to become investment- and enterprise-customer-ready.
The program is being run at ANDHealth’s new Victorian Connected Health Innovation and Commercialization Center (CHICC), which was supported by the Victorian government last month with additional funding of $2.4 million.
CEO Bronwyn Le Grice said she expects ANDHealth Activate and other programs running out of the CHICC will support more than 600 participants, create 100 new jobs, initiate more than 50 new clinical trials and give more than 400,000 patients access to emerging health technologies in the next five years.
“The combined $3.8 million investment by LaunchVic and the Victorian Government’s Australian Medtech Manufacturing Center and Biotechnology Fund is one of the most significant investments in the commercialization of Victoria’s digital health sector to date.
“We are delighted to be able to offer the ANDHealth Activate program, which will support high-growth digital health companies in navigating the complex commercialization journey in evidence-based digital health. Participants will benefit from a dedicated training and collaboration facility and access to the expertise of national and international executives in residence.”