Opportunity for

• Early-stage AgTech startups in Victoria, who have or are testing a product or prototype in market.

Opportunity description

Industry challenge:

LaunchVic has partnered with Agriculture Victoria to increase support for early-stage AgTech startups across Victoria by providing small grants of $50,000 to help startups build capability and move to the next stage of growth quickly.

We're increasing support for early-stage AgTech startups across Victoria by rapidly providing small amounts of working capital to help startups build capability and move to the next stage of growth.

Current opportunity:

As well as providing funding to cover operating costs that build startup capability and growth for early-stage AgTech startups, the grant will provide access to business development services that will enable founders to access the best possible support and advice to build their businesses, grow jobs and support Victoria’s economic growth.

Funding will be provided to eligible startups to help cover Business Capability and Growth Costs and work with pre-qualified business mentors to support business growth. Applications are accepted on a rolling basis.

LaunchVic will grant $50,000 (ex GST) per startup of which $48,500 (ex GST) will be a cash grant (equity free and non-dilutive) and $1,500 (ex GST) will support the cost of a professional startup mentor.

Potential other applications:

The Hugh Victor McKay Fund is a new sidecar fund managed by LaunchVic for Victorian AgTech startups run by LaunchVic with funding from Agriculture Victoria. The fund will co-invest between $100,000-$200,000 into at least five early-stage AgTech startups.

With every dollar of funding to be matched by two dollars of private investment, this will activate more than $3 million in total capital for founders building the future of on-farm productivity and sustainability.

To find out more about this opportunity go to "Enquire now"