Why LaunchVic is accelerating accelerators in 2025

LaunchVic is doubling down on accelerators and pre-accelerators in 2025, with plans to expand its support for programs that help startups stress-test their ideas and refine their business models.

CEO Kate Cornick shared insights into the organisation’s evolving strategy, pointing to accelerators as a proven way to foster quality startups in Victoria’s growing ecosystem.

“What works is pre-accelerated programs, long-form programs that are six to 12 weeks where aspiring entrepreneurs, or entrepreneurs who are struggling to get traction with their startup, can really stress-test their idea,” Cornick said in an interview with SmartCompany.

“So we will continue to support pre-accelerator-type programs.”

The organisation’s focus on accelerators aligns with its broader goal of achieving sustainable growth. LaunchVic has been adding 300 to 500 startups to the ecosystem annually.

According to Cornick, LaunchVic has come a long way since its inception.

“When I joined LaunchVic a few years ago, eight years ago now, our ecosystem was pretty immature. We had about 1,000 startups on file. There’s now three-and-a-half thousand. We’re seeing the quality go up. We’re seeing more venture capital get injected into the system,” Cornick said.

“We just want to keep doing more of the same.”

Despite the growth, Cornick emphasised LaunchVic’s focus is not solely on hitting numbers.

“If we wanted to, we could accelerate the number of startups, but if they’re not quality, there’s no point doing that,” Cornick said.

“We want every company that succeeds or survives a pre-accelerator program to be a company that could potentially become a billion-dollar entity or $100 million entity.”

LaunchVic is accelerating accelerators

One of LaunchVic’s key initiatives outside of its funds for 2025 is Basecamp, a program designed to address the gap between accelerators and scale-up initiatives like the 30 by 30 program.

The 30 by 30 program is LaunchVic’s flagship initiative aimed at supporting scale-ups to grow into global businesses with valuations $1billion by 2030.

Basecamp will serve as a stepping stone for startups that have completed accelerator programs and are looking to build strong foundations for scaling.

“We see startups making very similar mistakes or addressing similar challenges without having the frameworks to help them, and the one that we’ve really honed in on Basecamp is helping hire your executive team,” she said.

“But it’s not just that; it’s broader than that. The program is designed to provide strategic support in areas like leadership development, operational planning, and navigating early-stage growth challenges, ensuring startups are better positioned to scale successfully.”

LaunchVic has also supported several other accelerator programs tailored to specific needs in the ecosystem.

For example, the CivVic Labs pre-accelerator focuses on addressing government and civic challenges, producing startups that tackle issues like on-farm safety and public health.

Additionally, the Generation AI pre-accelerator is specifically designed to support early-stage AI startups, helping founders navigate the complexities of building machine learning and generative AI solutions.

Applications for this program are currently open, providing a critical pathway for founders in one of the most rapidly evolving sectors.

LaunchVic will also be tapping into universities more

LaunchVic is also turning its attention to universities, recognising the potential to drive startup creation through both student entrepreneurship and research commercialisation.

“How do we get more out of our universities in terms of startup creation? That is a very active piece of work that we’re looking at at the moment,” Cornick said.

“Whether we’re focusing on student entrepreneurship or research commercialisation, both are important.”

To highlight this potential, Cornick pointed to the often-untapped resources within academia, including researchers who may lack the tools or guidance to commercialise their work.

LaunchVic aims to create pathways that connect these researchers with startup opportunities, ensuring their innovations make it to market.

Similarly, the organisation is exploring ways to help universities integrate entrepreneurial thinking into their curriculum, cultivating the next generation of founders.

Addressing ecosystem challenges

Cornick highlighted ecosystem challenges as another area of focus. Despite Victoria’s progress, she noted gaps in founder confidence and investor support.

“If we want to keep growing the sector, we’ve got to start reaching those people who don’t know that help exists,” she said.

“Perhaps they’re sitting in their day job frustrated, or they’re seeing an opportunity, and they have to be given the confidence to take a plunge in quite a risky environment.”

Cornick added it’s not just about reaching these potential founders, but also ensuring that once they enter the ecosystem, they have access to the right support to scale their ventures sustainably.

“You want to make sure that people aren’t repeating the same mistakes, and they’re learning off the people that went before them,” Cornick said.

To address gaps in the funding landscape, LaunchVic has also supported the creation of the likes of the Alice Anderson Fund and angel networks like Archangels, Flying Fox, and Australian Medical Angels — all of which have gone on to establish venture capital funds. These initiatives demonstrate how education and support at the investor level can drive long-term ecosystem growth.

Making startups part of economic dialogue

Expanding beyond Victoria, Cornick also highlighted the importance of making startups a central part of the economic dialogue in Australia.

“This isn’t just a nice little innovation thing on the side. This is about reshaping Australia’s economy and Victoria’s economy in our context,” Cornick said.

“Normalising startups is a really important phase that we need to go through in Australia.”

She highlighted how startups have the potential to address major challenges across industries and contribute significantly to economic resilience.

By positioning startups as critical players in broader economic conversations, their visibility and access to support can be enhanced. Integrating startups into discussions around policy and economic planning, Cornick argued, will help Australia build a more innovative and globally competitive economy.

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