BENDIGO is expected to benefit from three projects that have received $1.75 million in funding under a new initiative to support start-ups and entrepreneurs.
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The Foundation for Young Australians has received $75,000 in the first funding round of the state government’s LaunchVic initiative to trial Launch Clubs in Bendigo and Traralgon.
Launch Clubs are local hubs where young people can develop the skills to test and launch their own enterprises.
Bendigo will also be a host site for Rocket Seeder, which was granted $675,000 to support innovation in agricultural technology by providing entrepreneurs with coaching and connection to mentors, industry partners and investors.
Programs will also initially be run in Shepparton, Sale and Geelong, alongside a Melbourne-based hub.
La Trobe University’s Bendigo campus will be a centre for a regional accelerator program, led by La Trobe and supported by Federation and Deakin universities, that aims to harness bright minds in regional Victoria to boost the economy and agricultural jobs.
Participants will have access to funding, office space, mentoring programs, networking, and local, national and international pitching opportunities.
That project has received $1 million.
“This is great news for start-ups in Bendigo,” Bendigo West MP Maree Edwards said.
“Projects like Rocket Seeder and the Foundation for Young Australians will help support future jobs in Bendigo.”
The state government said it would invest $60 million over four years through LaunchVic to foster the development of the state’s start-ups.
Applications for the second round of funding will open in September.