LaunchVic invests in EIR start-up program

LaunchVic has started a new program designed to attract experienced start-up professionals to co-working spaces.

The Victorian Government has provided $500,000 in funding for the program.

Through its ‘Expert-In-Residence’ (EIR) program, LaunchVic will invest up to $25,000 per successful application to support growth and learning opportunities for resident start-ups by attracting EIRs that will provide business guidance, mentorship and support for start-ups to improve their business capabilities.

“We’re giving Victoria’s start-ups the opportunity to become globally connected,” said Minister for Innovation and Digital Economy Philip Dalidakis.

“Having an Expert-in-Residence program will encourage global thinking and knowledge sharing between experienced start-up experts and early- to mid-stage start-up.”

The program will favour experts who have either founded and grown a start-up, have had strong experience as a start-up executive (CEO, CTO, CMO, COO) at a technology-based company or are recognised as an international start-up sector leader.

Co-working spaces are hubs of innovation where start-ups base themselves through their early growth phase for support, guidance and collaboration opportunities.

Victoria is home to approximately 170 co-working spaces, with Startup Genome’s recent Melbourne’s Startup Ecosystem report calling the state the ‘co-working capital’ of Australia.

“Victoria’s co-working spaces are an essential part of Victoria’s start-up infrastructure, providing hubs of collaboration and networks that support start-ups to grow,” said LaunchVic CEO Dr Kate Cornick.

“Mentorship and international connections are key drivers of start-up success and we expect this program to have a considerable impact across our ecosystem.”

Applications for the EIR program are now open for established co-working spaces. The funding round will remain open until the total funding pool is allocated. For more information visit launchvic.org.

Image credit: ©stock.adobe.com/au/alotofpeople

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