Home Articles Victorian Government allocates $600k for accelerator to boost Melbourne start-ups

Victorian Government allocates $600k for accelerator to boost Melbourne start-ups

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Trevor Townsend and Richard Celm

The Andrews Labor Government is accelerating Victoria’s start-up community with a $6.5 million funding boost from the State’s new start-up initiative LaunchVic. Minister for Small Business, Innovation and Trade Philip Dalidakis and LaunchVic Chair Ahmed Fahour yesterday announced 18 projects that will share in the Round 1 funding.

One of the recipients in the large idea category was Startupbootcamp, which will be the first global accelerator to come into Australia in 2017.

Startupbootcamp received $600,000 for the first year (2016), with the potential of following up funding in the subsequent years. The funds will enable the opening of a hardware lab in Kydo, Melbourne’s IoT and Data Tech Startup Space and will provide the core funding for the launch of the accelerator program in 2017.

What does this mean for Startupbootcamp?

The funds will provide the seed funding for the Startupbootcamp Accelerator in Melbourne and the confidence that the State Government has shown in the program will encourage local corporate sponsors to join our global sponsors such as Google, AWS, Cisco, Intel and Salesforce for Startups.

The engagement of corporates, universities and service providers with start-ups through a formal Accelerator like Startupbootcamp will enhance to local start-up community and build communities of practice within the IoT and DataTech industries.

“The funding allows us to plan for the launch of Startupbootcamp with confidence and we will work to sign further corporate partners prior to launching the program later this year,” said Trevor Townsend, founding partner and managing director of Startupbootcamp.

“We will be running a FastTrack event on the 3rd October. FastTracks are one day events as part of our recruitment period, to bring together mentors with high potential start-ups. We’re asking interested start-ups in the IOT and DataTech scene to apply as we’ll be sending one local team to Barcelona to join the global selection day.”

After the opening of Kydo IoT and Data Workspace in November, Startupbootcamp will be running a Hackathon with Australia’s leading Integrated Facilities services company, Spotless, to inspire the next generation of creative solutions in the Internet of Things and DataTech space.

On why Startupbootcamp emerged as a recipient of the funding, Townsend said, “We believe that IOT is the third wave of the internet, where it gets physical, and coupled with AI, Big Data and ubiquitous comms, it will have a profound disruptive effect on industry and our personal lives.”

“Our vision to create a thriving ecosystem in IOT and DataTech in Melbourne. The funding allows us to plan for the launch of Startupbootcamp with confidence and we will work to sign further corporate partners prior to launching the program later this year.”

What is the objective of LaunchVic?

The Labor Government created LaunchVic to accelerate start-ups, drive new ideas and create jobs in Victoria.

“We want Victoria to be the location of choice for startups worldwide and LaunchVic is making it happen. These projects will help young companies and ideas to create jobs and industries that will support Victoria for decades to come,” explained Minister for Small Business, Innovation and Trade, Philip Dalidakis.

“LaunchVic’s first round of funding celebrates the fact that entrepreneurship comes in many shapes and sizes – there is no one ‘face’ that represents the startup ecosystem in Victoria,” said  LaunchVic Chair Ahmed Fahour.

“We will continue to work to enhance competition, collaboration and quality in the ecosystem, not duplicate what others do.”

Startupbootcamp was selected as it will enhance Melbourne’s start-up ecosystem by:

  • Kickstarting the existing fledgling IoT community ecosystem in Melbourne
  • Being the only accelerator focussed on both hardware and software in Melbourne
  • Bringing international best practices to Melbourne via Startupbootcamp
  • Connecting Melbourne to the outside world especially Europe, the US and Asia
  • Growing the ecosystem by recruiting from the APAC region
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