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Dimension Data secures $450K cyber funding from Victorian Govt

Dimension Data secures $450K cyber funding from Victorian Govt

First recipients for LaunchVic’s $60m startup funding program unveiled.

Dimension Data is one of the recipients of the Victorian Government's startup initiative, LaunchVic, which has named the first round of recipients of its $60 million funding program.

The integrator has been awarded $450,000 in conjunction with Deakin University to set up a cyber security incubator in order to accelerate the development of unique cyber security solutions and intellectual property.

Located at Deakin’s Waurn Ponds campus, the incubator will help address the ongoing skills shortage in the Australian cyber security industry.

The LaunchVic program is an initiative to accelerate the startup ecosystem in Victoria through funding incubators and accelerators.

Victorian Minister for Small Business, Innovation and Trade, Philip Dalidakis, and LaunchVic Chair, Ahmed Fahour, named 18 projects that will share in the Round 1 funding.

“We want Victoria to be the location of choice for startups worldwide and LaunchVic is making it happen,” Dalidakis said.

“These projects will help young companies and ideas to create jobs and industries that will support Victoria for decades to come.”

“Victoria is leading the country in startup and small business growth, with around 8,000 new businesses created in the last year alone, and we need to ensure the right support is in place to help them thrive.”

The projects range from large grants for startup hubs, incubators and accelerators, to smaller grants enabling established organisations to increase their scale, reach and impact.

Other investments include startup event organisation, Startupbootcamp, which received $600,000 to appear in Melbourne in 2017 - the group will run workshops for startups on the Internet of Things and data tech.

A Startupbootcamp spokesperson said the funds will facilitate opening a hardware lab in Kydo, Melbourne’s IoT and Data Tech Startup Space and will provide the core funding for Launch of the accelerator program in 2017.

A $1.25 million commitment has been made to a startup hub to establish Geelong as a global centre for innovation and entrepreneurship.

La Trobe University has been awarded $1 million in funding to establish an accelerator program to unlock innovation within regional Victorian communities.

The funding also includes a boost for the Lemonade Stand startup program for children aged 9-12, to help it expand into schools and online.

Social enterprise group, Social Traders, has been funded to deliver a pipeline of accelerator-ready social enterprise ideas focused on creating employment opportunities for people facing barriers to work.

Applications for Round 2 funding will open October 2016.

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