Proudly supported by LaunchVic

In 2020, LaunchVic provided funding to support the establishment of new Angel Networks to help build a robust Victorian Investor Community and to unlock more capital for Victorian Startups. Given 18% of Victorian Startups are focused on HealthTech in some form – more than any other sector in Victoria, a HealthTech focused Angel Network was needed to help drive success in the health sector. In 2021, LaunchVic sought tenders to establish a Victoria focused Angel Network to invest in health industries including biotech, medtech and pharmaceuticals (collectively, HealthTech).

LaunchVic

The objectives of this funding are to:

    • Increase access to early-stage capital by Victorian HealthTech Startups, by activating dedicated Angel Network(s) specialising in making seed investments in biotech, medtech and pharmaceuticals startups; and

    • Increase the number of informed and active early-stage investors who want to invest in biotech, medtech and pharmaceuticals startups, by providing support for Angel Investors through formalised Angel Networks.

Australian Medical Angels were able to answer this call in late 2021 and became the first Angel Network to receive funding through LaunchVic’s ‘Grants For Victorian HealthTech Angel Networks‘ funding round to expand the Network and set up a Victorian branch to focus investments on Victorian-based Startups.

The Victorian branch aims to recruit over 40 members, and support over 10 investment deals with a cumulative targeted investment of $2m into Victorian HealthTech Startups over 2 years.

Grants for Targeted Pre-Accelerator Programs

 

In 2024, Australian Medical Angels has secured further support from LaunchVic to run the Victorian arm of CICA Lab (Clinician Incubator Clinician Accelerator) is a 12-week part-time hybrid course designed to accelerate a clinician’s journey to becoming a healthcare entrepreneur.

LaunchVic CEO Dr Kate Cornick said the programs had been funded to increase the number of startups hitting the market.

“The Victorian startup ecosystem has undergone significant growth since LaunchVic was established in 2016, with the number of startups increasing 3.5 times from around 1,000 to more than 3,500,” Dr Cornick said.

“However, globally leading startup ecosystems support many more startups, which in turn contribute to economic growth through job creation. It is therefore imperative that we continue to support the creation of new startups in Victoria and ensure our startup ecosystem reflects the diversity of the Victorian population.”

For more information on CICA Lab please visit the CICA Lab website at: cicalab.co