LaunchVic’s hunt for the next wave of tech unicorns is on again

LaunchVic is on the hunt for a new wave of tech startups they can help turn into unicorns – companies worth more than $1 billion. 

The Victorian startup agency’s 30×30 program was developed with the aim to help 30 startups hit $1 billion valuations by 2030, and is now open for expressions of interest. 

LaunchVic 30×30 was launched last year to support the state’s fastest growing scale-ups, with a group of startups including Mr Yum, Seer Medical, and July taking part in the supervisory program for HR, operations and finance leads. Nine companies took part in 2022, with 11 to be chosen for this year’s cohort.

The four-month program sees them pair up with mentors from leading local tech giants, including Atlassian, Canva, Culture Amp, Judo Bank, and Carsales to address common challenges as they scale.

The chosen companies also receive $6000 new market entry funding from Global Victoria, the Victorian government’s trade agency. 

Zhoe Low, general manager of luggage startup July, said the 30X30 program helped the company through a significant growth period with the return of international travel. 

 “The 30X30 program provided us with a rare opportunity to connect with our scale-up peers to share and learn from their experiences as well as those of our mentors,” she said.  

“This couldn’t have come at a better time as we were experiencing a period of exponential growth and the program helped our management team to hone our focus and shape our operations for further expansion.

“We are glad to have come through the program armed with both the hard and soft skills needed to achieve our long-term goals.”

This week July announced the appointment of Joanne Smith, previously chief financial officer at Little Birdie, and deputy CFO at Kogan.com, as its first CFO.

To qualify for 30×30, the company must be a Victorian registered and headquartered company, with the founder/CEO also having their primary residence in the state.

The company also needs to meet LaunchVic’s definition of a startup and in addition meet at least one of the following measures:

• at least 50 full-time employees or;
• A valuation greater than A$30m but less than A$200m or;
• Monthly revenue of at least $1m per month or;
• Raised a single VC round of more than $5m.

Scaleup founders can learn more at: launchvic.org/30×30

Expressions of interest close on Friday, February 17.

NOW READ: Luggage startup July nabs Little Birdie’s Joanne Smith as its first CFO