Grants for Victorian Angel Networks

The below definitions apply to this Grant Round:

Angel Investor is an investor with a high-risk appetite who provides seed investments into early-stage startup ventures, prior to institutional investors including venture capitalists. Typically, Angel Investors provide more than investment alone – they bring business experience, mentorship and networks that can help the invested startup accelerate its growth.

 Angel Network is a formalised group of Angel Investors that collectively evaluate and invest in entrepreneurial ventures. For the purposes of this grant round, Angel Networks include:

• Angel syndicates/groups where individual Angel Investors join together with other angels to evaluate and invest in entrepreneurial ventures; and
• Angel networks that match entrepreneurs and Angel Investors but remain neutral and generally refrain from formally evaluating business plans or angels.

 Existing Angel Network is an established Angel Network of Angel Investors that is registered as an incorporated association or as a company through ASIC.

 Lead Partner will lead the activities of the New VC Fund in Victoria and will be permanently based in Victoria as their primary place of residence.

New Angel Network is a group of Angel Investors that have not formally registered as an incorporated association or as a company through ASIC.

Operating Costs include staff salaries, event costs, insurance, accounting costs, legal costs, marketing costs, investment platform costs and any other reasonable costs to support the operations of the Angel Network. 

Startups LaunchVic defines a startup as an innovative, technology-based business that can scale rapidly and capture mass markets.

Examples of technology-based businesses include: software and application development (Artificial Intelligence (AI), blockchain, big data analytics, e-commerce or marketplaces, augmented or virtual reality, Software as a Service (SaaS)), hardware, advanced manufacturing, sensor technology, robotics, autonomous vehicles, quantum technology, deep tech, and genomics and life sciences (including biotech & medtech). Once a startup has demonstrated accelerated growth sufficiently it becomes a scaleup.

To apply, applicants must satisfy the following general eligibility criteria:

• Applicants must have demonstrable expertise in investing and/or supporting startups, and understand the key issues relevant to startup investing;
• Applicants must be seeking funding to either:
  • support the establishment of a New Angel Network in the State of Victoria by registering as an incorporated association or as a company in the State of Victoria through ASIC; or
  • enable an Existing Angel Network currently registered with ASIC outside of the State of Victoria to establish its first official branch/office in the State;
• The Lead Partner must commit to permanently reside in Victoria.
• Applicants seeking up to $300,000 (exclusive of GST) over 2 years are eligible; and
• Applications must be submitted via the LaunchVic online application system before the closing date and time to be eligible.

The following applicants are ineligible to apply:

• Existing Angel Networks that previously received funding from LaunchVic
• Applicants seeking funding for another proposal unrelated to a Victorian Angel Network.

All applications will be assessed for eligibility by LaunchVic. Applications that do not meet the eligibility criteria will not be assessed.