Accelerators, incubators, and other startup-focused organisations will be using the AU$2.9 million funding to provide Victorian startups with training.
The Victorian government has announced providing AU$2.9 million to service providers to deliver training to local startups.
The funding, given to 16 organisations through the Victorian government’s AU$60 million technology investment body LaunchVic, will be used for training around corporate governance, marketing support, investment support, and export and growth, among others.
According to government estimations, just 15 percent of startups in Victoria go through an accelerator program, with many startups believing they are either not ready or have moved beyond needing intensive support.
The programs have up to 2,000 places available for Victorian startup founders and their staff members.
Delivering the training that includes short courses, three-day workshops, week-long courses, mentoring, and online learning will be Australian accelerators, incubators, and other startup-focused organisations, including the likes of Slingshot.
With the multimillion-dollar government injection, the courses are provided either free or at low cost to the startups.
LaunchVic was established in November 2016 and will be given a total of AU$60 million over four years to invest in core infrastructure, improve access to capital for local startups, advocate on Commonwealth legislation and regulation, and engage in startup events, campaigns, competitions, and mentoring programs.
While the government-funded body has funded a total of 46 projects through its grants program to date, it last year found itself caught up in the 500 Startups scandal that saw its co-founder and frontman Dave McClure hand in his resignation after being outed by whistleblowers for sexual misconduct towards a number of women in professional settings.
Rachael Neumann handed in her resignation in August, telling ZDNet at the time that she resigned from 500 Melbourne because it was unclear during her recent time at headquarters whether the local program would be set up for success.
LaunchVic said that without “trusted local leadership”, it did not believe 500 Startups would be able to build “a strong and inclusive culture, and the social capital it needs” to be able to successfully deliver its program in Melbourne.
“Unfortunately, as we’ve expressed to 500 Startups, that without Rachael Neumann at the helm we don’t believe it will work,” LaunchVic CEO Dr Kate Cornick said in August.
International business woman, adviser, and philanthropist Laura Anderson was then announced as the new chair of LaunchVic in October.
“Now is the time for our community to lead by example and maximise its potential to create, innovate, and collaborate beyond Victoria’s borders, and that’s what I intend to do,” Anderson said previously. “I’m pleased to join LaunchVic. The startup community has never been more important or prominent, and I’m excited to be a part of that.”