CivVic Labs funded for start-up success
Australia’s first accelerator for start-ups to gain access to government procurement will be funded by the Victorian Government.
The CivVic Labs Accelerator will receive $2.5 million from the government to help it increase the success rate of early-stage start-ups.
It will also help fuel their growth by providing the capital and in-kind resources required to work with government agencies.
“Start-ups are growing in Victoria and this initiative will help them create more jobs as well as offering government alternative options and different ways of doing things,” said Minister for Innovation and the Digital Economy Philip Dalidakis.
“We’re quickly becoming the start-up hub of the Asia–Pacific and this is yet another initiative that will make Victoria an attractive place to start and scale a start-up.”
CivVic Labs Accelerator will support 16 start-ups in an intensive program. Start-ups will be selected according to their ability to address challenges faced by government.
The government procures large amounts of goods and services from the private sector each year but accessing these opportunities is difficult for start-ups — a key issue flagged by LaunchVic, Victoria’s start-up agency.
“Lack of access to government procurement for start-ups is a common problem we hear from Victorian start-ups and something LaunchVic has been seeking to address,” said LaunchVic CEO Dr Kate Cornick.
“CivVic Labs Accelerator will open up a world of new opportunities for start-ups to access lucrative government procurement opportunities.”
LaunchVic will fund and lead the program with additional funding from the government’s Public Sector Innovation Fund.
“Government will benefit from having access to innovative start-up thinking, new products and new services to help solve existing government challenges,” said Special Minister of State Gavin Jennings.
“This is good for jobs and our economic prosperity, as we build upon Victoria’s position as the tech capital of Australia.”
A pilot program will roll out this financial year, followed by an expanded accelerator program running twice over two years, until 2020. Visit civvic.org.au for more information.
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