More than 170 Victorian startups will benefit from a $13.45 million investment by the Victorian Government to establish three world-class accelerators in Victoria.

As part of the LaunchVic funding round, two Australian teams – SBE Australia and Skalata Ventures – will establish and operate accelerator programs exclusive to Victoria. Techstars, an international organisation, is also in the early stages of developing a Melbourne-based program.

The programs will cater for startups ranging from early-stage to mid-stage and include a generalist accelerator and two specialist accelerators to reflect Victoria’s startup strengths in life sciences and sports tech.

The selected accelerators have cash and in-kind funding along with powerful connections and access to global networks providing a significant advantage for participating startups looking to grow and access international markets.

Seeking partner support

Techstars has received LaunchVic funds to establish a Melbourne sports tech accelerator program for 20 startups over two years.

Techstars is looking for partners to support a series of startup community events including Techstars Startup Weekend and Techstars Startup Week, as well as the establishment of an accelerator to connect founders and their teams with other entrepreneurs, experts, mentors, alumni, investors, community leaders and corporate partners.

SBE Australia will expand its world-class Springboard Enterprises accelerator program to Melbourne through the launch of a female-focussed life sciences accelerator that will benefit up to 20 startups over three years. SBE will also deliver the E3 business accelerator program benefiting up to 60 early-stage startups.

Skalata Ventures will open a new accelerator program to support Victoria’s most promising scaleups. Founded by the former leadership of University of Melbourne's Melbourne Accelerator Program, the program will assist 60 scaleups over three years.

"Growing our startup sector helps us maintain our reputation while boosting our economy and creating local jobs" said Victoria's Minister for Innovation and the Digital Economy.

Supporting Victoria's reputation as the nation's tech capital

The globally connected accelerators will "complement the strengths of Victoria's startup sector" said CEO of LaunchVic, Dr Kate Cornick, and adds to the government's portfolio that has so far launched 13 new accelerators, and provided financial assistance to 46 programs that have supported 800 founders and 50 start-up ventures.

Victoria is Australia's tech capital hosting the nation's biggest and best tech events such as the iAwards, YeahNah, C2 and Reimagination.