The Andrews Labor Government is injecting over $136 million into Victoria\u2019s start up sector through the Victorian Budget 2020\/21.<\/p>\n
Home to multiple tech \u2018unicorns\u2019 \u2013 startups that have attained billion-dollar valuations such as REA Group, Airwallex and SEEK \u2013 Victoria has the potential to become a globally-recognised startup hub. This Budget will help our founders to grow their businesses and create new high-value jobs for Victorians.<\/p>\n
We’re investing a further $60.5 million to establish the Victorian Startup Capital Fund to support early-stage entrepreneurs to scale-up and create jobs. The first fund of its kind in Australia, it will help early-stage firms attract venture capital, leveraging up to $180 million of private investment.<\/p>\n
The Budget also includes $25.7 million over four years for a complementary venture growth fund. This fund will see the Government co-invest into a venture debt facility with a private investor to back later-stage and scaling startups.<\/p>\n
Some $40 million will be provided for LaunchVic over four years to continue supporting the growth of Victorian startups. And we\u2019ll support female founders to access capital through the establishment of a Women\u2019s Angel Sidecar Fund, with $10 million over three years.<\/p>\n
The startup sector sits at the centre of our economic recovery and an unprecedented investment in our young high-growth firms will create thousands of new-economy jobs across the state.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Andrews Labor Government is injecting over $136 million into Victoria\u2019s start up sector through the Victorian Budget 2020\/21. Home to multiple tech \u2018unicorns\u2019 \u2013 startups that have attained billion-dollar valuations such as REA Group, Airwallex and SEEK \u2013 Victoria has the potential to become a globally-recognised startup hub. This Budget will help our founders […]<\/p>\n","protected":false},"author":1,"featured_media":9633,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-8411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-media-releases"],"_links":{"self":[{"href":"https:\/\/www.gabriellewilliams.com.au\/dev\/wp-json\/wp\/v2\/posts\/8411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gabriellewilliams.com.au\/dev\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gabriellewilliams.com.au\/dev\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gabriellewilliams.com.au\/dev\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gabriellewilliams.com.au\/dev\/wp-json\/wp\/v2\/comments?post=8411"}],"version-history":[{"count":1,"href":"https:\/\/www.gabriellewilliams.com.au\/dev\/wp-json\/wp\/v2\/posts\/8411\/revisions"}],"predecessor-version":[{"id":9306,"href":"https:\/\/www.gabriellewilliams.com.au\/dev\/wp-json\/wp\/v2\/posts\/8411\/revisions\/9306"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gabriellewilliams.com.au\/dev\/wp-json\/wp\/v2\/media\/9633"}],"wp:attachment":[{"href":"https:\/\/www.gabriellewilliams.com.au\/dev\/wp-json\/wp\/v2\/media?parent=8411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gabriellewilliams.com.au\/dev\/wp-json\/wp\/v2\/categories?post=8411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gabriellewilliams.com.au\/dev\/wp-json\/wp\/v2\/tags?post=8411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}