24 February, 2021
In 2020, LaunchVic provided funding to support the establishment of four new Angel Networks to help unlock investment capital for early-stage Victorian Startups. The four new Angel Networks, along with the existing Angel Networks in Victoria, do not currently focus on any particular sector. However, 18% of Victorian Startups are focused on HealthTech in some form – more than any other sector in Victoria. In his 2019 Angel Network Report, Professor Lerner (Harvard Business School) recommended that LaunchVic consider establishing sector-specific Angel Networks to help drive success in industry verticals. LaunchVic believes that the time is right to action this in health industries including biotech, medtech and pharmaceuticals (collectively, HealthTech).
The objectives of this funding are to:
LaunchVic is seeking proposals from applicants to launch a HealthTech Angel Network in the State of Victoria, that will primarily focus on investing in Victorian biotech, medtech and pharmaceutical startups.
Successful grant applicants will receive funding of up to $300k (exclusive of GST) over 2 years. Funds can be used for Operating Costs. LaunchVic expects to fund 1-2 applications through this grant round. Further details are online here, including dates for further information sessions.