Startup Shakeup has received $246,000 to support the next generation of regional entrepreneurs. This investment will generate millions of dollars for the region, and support the growth of new startups.
“This investment will enable the next generation of regional entrepreneurs to have a go at getting their big idea off the ground,” said Minister for Innovation, Medical Research, and the Digital Economy, Jaala Pulford.
Funding is over two years via startup agency LaunchVic, and from the Andrews Labor Government. The Rural City of Wangaratta is acting as program lead, with partners Benalla Rural City, Alpine, Indigo and Mansfield Shires, Charles Sturt University, Goulburn Ovens TAFE, and NETracksLLEN as program sponsors.
The funding enables Startup Shakeup to build out our regional innovation eco-system, with masterclasses and ‘tech taster’ workshops open to all, and four pre-accelerators for Startups, to support and inspire innovation and entrepreneurship.
“We know regional innovators often don’t have the connections or community around them to give the confidence to take their idea the next step. This funding enables us to support them, and give them the skills and confidence to succeed,” said Startup Shakeup Chair, Ilena Young (Charles Sturt University)
This new pre-accelerator program will support 40 entrepreneurs, with four programs over two years. Successful applicants will go through an approval process and have access to mentors and business coaches, creative co-working spaces, and prototyping facilities to assist in Startup development. The program will be delivered online with a local facilitator, making it accessible for all Regional Victorians.
The pre-accelerators will be run by Runway Geelong and supported by GHD, thus delivered by experts with regional knowledge, which in turn helps to lay foundations for regional growth and prosperity.
“Entrepreneurs looking to launch their own business will have access to the best possible support, advice, and networks, giving them every chance of success as they build new companies,” said LaunchVIC CEO, Dr. Kate Cornick
Along with these new programs, Startup Shakeup continues supporting Startups, Shakeups, and Innovators in regional Victoria through existing programs: Regional Skills Network, Meet Ups, Strategic Creativity, and Regional Resilience workshops.
Since 2018, Startup Shakeup has worked with over 34 startups, whose projected turnover in 2020 was just under AU$1million, employing 50 staff.
Deloittte Access Economics found the Victorian startup sector could contribute an additional 15,700 Victorian jobs over the next 20 years, and LaunchVic research in 2020 found the startup economy in Victoria worth AU$7billion.
If the regional innovation ecosystem through Startup Shakeup can generate just 0.5% of that in the North East, we will bring AU$35million into our regional economy.
The first pre-accelerator will start April 5th, and interest can be shown via an EOI on the Startup Shakeup website. The application process will begin mid -February.