Victoria Archives - InnovationAus.com

SMEs secure $1.9m from Victorian manufacturing grants

Brandon How — Thu, 01 Aug 2024 07:48:14 +0000

Nine small to medium-sized manufacturers have secured $1.9 million in grants in the latest round of the Made in Victoria manufacturing growth program. The recipient businesses operate in a diverse range of sectors from food and beverage manufacturing to construction, packaging, and transport. While each dollar of the up to $250,000 grants needed to be...

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Vic courts’ tech project blows out by three years, $30m

Joseph Brookes — Thu, 06 Jun 2024 06:00:37 +0000

A large-scale digital transformation project within the Victorian courts is running three years late and is more than $30 million over budget, as it grapples with an increasing scope and complexity. The Victorian Government’s Digital Dashboard now lists the project to implement a new case management system (CMS) at the Magistrates’ Court of Victoria and...

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Victorian Govt moves to ‘Australian-first’ cyber sourcing deal

Joseph Brookes — Mon, 03 Jun 2024 05:02:09 +0000

The Victorian government has launched an “Australian-first” state purchasing contract for cybersecurity goods and services which will “dramatically reduce” workloads for departments and save time and money. The new cybersecurity state purchase contract is a panel of mostly Victorian companies that have been vetted to provide specific cybersecurity products and services to state government entities....

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Breakthrough Victoria backs MedTech commercialisation

Joseph Brookes — Thu, 16 May 2024 11:16:44 +0000

The Victorian government’s venture capital fund on Thursday announced it has invested $5 million into a Melbourne MedTech commercialisation firm as it faces renewed criticism from the state opposition over its impact. The $2 billion Breakthrough Victoria firm followed a $37 million investment in a high altitude balloon company earlier this month with a $5...

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Vic health startups accelerated as state sector grows

Joseph Brookes — Wed, 08 May 2024 05:32:22 +0000

Artificial intelligence and virtual reality startups are among the new cohort of a Victorian government-backed digital health accelerator, as the sector becomes a bigger part of the state’s innovation system. Digital health commercialisation firm ANDHealth on Wednesday revealed the 15 local startups in its ACTIVATE accelerator, which is run in partnership with state agency LaunchVic....

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Vic Budget cuts $360m from govt VC fund

Justin Hendry — Tue, 07 May 2024 09:33:26 +0000

The Victorian government will strip $360 million from its venture capital fund and extend the investment horizon from 10 to 15 years, as it seeks to make more “quality investments” amid a changing market. Victorian Treasurer Tim Pallas revealed the changes to Breakthrough Victoria in the 2024 state Budget on Tuesday, just weeks after the...

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LaunchVic lands $40m boost in state Budget

Brandon How — Tue, 07 May 2024 09:30:06 +0000

The Victorian government has set aside $40 million for its startup agency LaunchVic as part of a 10 per cent increase in overall Budget funding for Industry, Small Business and Medical Research programs. But support for Digital Strategy and Transformation programs is set to fall by 37.2 per cent to $144.8 million, although some of...

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$37m to bring high-altitude balloon company to Victoria

Brandon How — Fri, 03 May 2024 04:42:55 +0000

Breakthrough Victoria has invested $37 million to bring US-based observation balloon company World View to the state, its largest single investment to date. The company will use the funding to establish its Indo-Pacific headquarters in Melbourne and an advanced manufacturing facility elsewhere in the state, the $2 billion state government-backed investment fund announced on Friday....

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Victoria’s R&D grants scheme backs first 10 companies

Justin Hendry — Fri, 26 Apr 2024 04:22:41 +0000

PolyNovo, Quantum Brilliance and SPEE3D are among the first 10 local companies to receive matched funding under the Victorian government’s manufacturing-focused R&D grants scheme. Jobs and Industry minister Natalie Hutchins named seven of the 10 successful companies under the Made in Victoria – Industry R&D Infrastructure Fund on Thursday, without disclosing the grant amounts. The...

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Vic electric plane development centre takes off

Brandon How — Fri, 12 Apr 2024 03:44:06 +0000

Victoria-based Dovetail Electric Aviation has officially opened its development centre in the Latrobe Aerospace Technology Precinct, where it will progress work on battery and hydrogen fuel cell electric powered aircraft. On Friday, the Victoria state government helped launch the centre, which is expected to create 90 jobs over the next five years. The centre will...

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