The Andrews Labor Government will invest $2.5 million to run Australia’s first accelerator designed to help startups gain access to government procurement – CivVic Labs Accelerator.
The program aims to increase the success rate of early-stage startups and help fuel their growth by providing the capital and in-kind resources required to work with government agencies.
CivVic Labs Accelerator will support 16 startups in an intensive program. Startups will be selected according to their ability to address challenges faced by government.
The Labor Government procures large amounts of goods and services from the private sector each year but accessing these opportunities is difficult for startups – a key issue flagged by LaunchVic, Victoria’s startup agency.
LaunchVic will fund and lead the program with additional funding from the Labor Government’s Public Sector Innovation Fund.
A pilot program will rollout this financial year, followed by an expanded accelerator program running twice over two years, until 2020.
