Labor Government to boost start-ups and drive innovation

The Andrews Labor Government announced on 28 May it will invest in start-ups and innovation programs outlined in the Victorian Budget from 2019 to 2020.

The Victorian Budget comprises will allocate more than $169.8 million towards initiatives to help develop more jobs in Victoria through boosting trade, driving innovation, and delivering programs that help Victorians overcome employment barriers.

“We’re building the infrastructure Victoria needs and employing thousands of hard-working Victorians in the process, but we know there’s more to do,” said Martin Pukula, Minister for jobs, innovation, and trade.

The Budget’s package includes more than $150 million to create the Victorian Jobs and an Investment Fund to attract strategic investments, create jobs, and foster business growth across Victoria.

The fund includes more than $10 million for LaunchVic to continue its work supporting local start-ups and attract world-class innovation and investment projects that grow jobs and productivity across the state.

“We will strengthen our economy and deliver jobs by growing key industries, connecting with global economies, and investing in the innovation, skills, and opportunities we need to succeed,” Pukula said.

Pukula says connecting local businesses to global markets is crucial to growing the Victorian economy. The Labor Government will invest more than $5 million to fund trade missions, deliver training, and skills programs to help build the export capabilities of local businesses and maintain trade opportunities in Asia.