The Victorian government announced it’s winding down LaunchVic and you’re probably wondering what this means for your funding applications, existing commitments, or plans to tap into state support. This guide is part of our comprehensive Victoria ends LaunchVic and what it means for startup founders coverage, focusing specifically on program-by-program transition details.
Here’s the problem: the official announcements are vague on specifics. You’ve got 190+ portfolio companies, in-flight applications, and active program participants all facing the same uncertainty.
The wind down happens during the 2025-26 budget cycle, but there’s no specific completion date. LaunchVic is merging with Breakthrough Victoria into a new hybrid entity, but the government says “the precise shape is under development”. That’s not helpful when you’re trying to plan your runway or decide whether to wait for a grant decision or look elsewhere.
The catalyst for all this was the Silver Review recommendations, which recommended abolishing LaunchVic to cut Victoria’s $660 million industry support expenditure. The merged entity will face a $360 million funding cut over four years.
This article cuts through the vague government statements to give you a program-by-program breakdown, what we know about the timeline, and what you should do if you’re caught in the transition.
What is the LaunchVic wind down timeline and when does the merger with Breakthrough Victoria complete?
The Victorian government plans to wind down LaunchVic as part of broader public sector reforms saving the state $4 billion. Implementation happens during the 2025-26 budget cycle. That’s the extent of the public timeline.
No specific completion date exists. The government will consolidate LaunchVic’s innovation and commercialisation functions with Breakthrough Victoria, but what that looks like in practice is still being figured out.
The transition involves gradually shutting down LaunchVic as an independent agency while fulfilling existing commitments. What “fulfilling existing commitments” actually means for individual grants or in-flight applications hasn’t been spelled out. Expected phases include program assessment (already happening), function transfer planning, equity consolidation, and the new entity’s operational launch.
LaunchVic was founded in 2015 and managed to unlock more than $1.5 billion in private capital over its nine-year run. Now it’s being consolidated into what the government frames as a streamlined approach. Whether that streamlining benefits founders or just saves the government money is the question everyone’s asking.
For Victorian startups caught in the transition, you need to monitor official channels instead of assuming dates.
Which LaunchVic programs will continue operating and which are ending or paused?
Here’s what we know about specific programs:
LaunchVic just launched Basecamp in 2025 to address the startup leadership gap. Cohort 2 has reportedly been cancelled. That’s a shame because leadership development is exactly the kind of ecosystem-building activity that gets cut when governments focus purely on ROI metrics.
The 30×30 Program (creating 30 startups valued at $30M+) appears to be continuing through 2026 based on various references. That makes sense given it aligns with Breakthrough Victoria’s investment-focused approach.
LaunchVic’s grant and facilitation programs will transfer to the new hybrid entity. The Silver Review originally recommended moving these to Invest Victoria, but the government decided to keep them with the merged LaunchVic-Breakthrough Victoria organisation instead.
The Press Play founder support scheme’s future is uncertain. The Alice Anderson Fund for women-led startups is also unclear, which is creating anxiety for portfolio companies like Elita and GonGlobal. More on that fund below.
One bright spot: the University Innovation Platform, a $100 million initiative focused on university research commercialisation, continues unaffected under Breakthrough Victoria.
LaunchVic also facilitated $239 million in private capital by supporting 8 new venture capital funds and 1 angel network, plus delivering investor education to 109 individuals. Whether the merged entity maintains this ecosystem development work or focuses purely on direct investments remains to be seen.
Expect program-by-program announcements as transition planning progresses. For immediate funding options during transition, including Breakthrough Victoria programs and private capital alternatives, see our comprehensive funding guide.
What happens to existing LaunchVic grant commitments and in-flight applications?
The government hasn’t specified how pending applications will be processed. If you submitted an application before the closure announcement, you’re in limbo regarding assessment timelines, decision authority, and who you should even contact.
Standard public sector transition practices suggest contractual obligations get maintained. If you have a signed grant agreement, LaunchVic will probably honour it. But “probably” isn’t helpful when you’re planning cash flow.
The bigger gap is in-flight applications. No official process has been announced for handling pending applications. You don’t know if LaunchVic staff will assess them, if they’ll be transferred to the new entity’s transition team, or if Breakthrough Victoria personnel will take them on.
The Silver Review painted a picture of a “confusing, duplicative, and increasingly expensive ecosystem” that made “government confusing and difficult for industry to deal with.” The irony is that the transition itself has made things more confusing, not less.
Here’s what you should do: Contact LaunchVic directly with your application reference number. Don’t wait for general announcements. Get application-specific updates and document all correspondence. If you’re planning a submission, hold off until the new entity’s processes are clear or look at alternative pathways now.
The government is cutting overall investment and sharpening its funding profile. That means reduced funding for the new-look Breakthrough Victoria. Fewer dollars available means more selective criteria and longer assessment times even after the transition stabilises.
How does the merger affect the Alice Anderson Fund and its portfolio companies?
The Alice Anderson Fund was a co-investment program deploying $10 million in government funding matched by $30 million in private capital, targeting up to 60 women-led early-stage startups. The fund invested in pet health startup Elita, medtech company GonGlobal, and urban data startup Neighbourlytics (which was subsequently acquired – a success story).
The fund’s future is uncertain. The Silver Review didn’t specifically address whether the Alice Anderson Fund continues under the merged entity, transfers to Invest Victoria, or winds down completely.
This uncertainty matters more than most program changes because the Alice Anderson Fund built community beyond just capital. Women founders lose not just a potential co-investment partner but a specialised fund that understood gender-specific challenges in fundraising. No direct replacement has been identified in Victoria’s remaining support infrastructure.
Portfolio companies face questions about ongoing investment support and follow-on funding. If you’re a women-led startup relying on the fund or planning to apply, you need alternatives lined up. Our guide to the Alice Anderson Fund transition provides detailed options for women founders navigating this change.
The government hasn’t made any announcement about the fund’s continuity. Given the $360 million funding cuts to Breakthrough Victoria, programs that serve specific cohorts might be deprioritised in favour of broader investment mandates.
What is the Silver Review and why did it recommend abolishing LaunchVic?
The Independent Review of the Victorian Public Service was conducted by former top bureaucrat Helen Silver to identify cost savings. The review found “substantial opportunities to reduce and streamline entities” across the public sector through cessation, merging, and streamlining.
LaunchVic was singled out for abolition. The review recommended consolidating LaunchVic’s grant programs within Invest Victoria and moving equity investment management under Breakthrough Victoria. The government adopted the spirit of the recommendation but not the exact structure – the merged entity got both equity and grant functions instead.
The rationale was straightforward: reduce risk exposure from government equity investments, streamline overlapping functions, and cut administrative overhead. Victoria’s industry support expenditure had ballooned from $236 million in 2014-15 to over $660 million in 2024-25. The review recommended cutting at least $350 million in funding over four years.
The review painted government support as “confusing, duplicative, and increasingly expensive.” The recommendation was to make Invest Victoria the “single entry point” for all government-provided industry support.
Industry response was mixed. Minister Danny Pearson defended the move as bringing together functions “while continuing to grow the ecosystem”. Michael Batko, outgoing CEO of Startmate, called it crazy: “LaunchVic is the gold-standard model” – public funding entrusted to an independent team with clear strategy, real expertise, and genuine accountability.
LaunchVic CEO Kate Cornick framed the stakes differently: “This isn’t just a nice little innovation thing on the side. This is about reshaping Australia’s economy and Victoria’s economy”.
How much funding will the new merged entity receive compared to previous budgets?
Breakthrough Victoria will lose $360 million over four years as the state rethinks startup funding. That’s an average of $90 million per year in cuts.
For context, Breakthrough Victoria currently manages a $2 billion innovation fund. The $360 million reduction is substantial but doesn’t eliminate the fund entirely.
The combined budget for the merged LaunchVic-Breakthrough Victoria entity hasn’t been disclosed in specific dollar amounts. The 2025-26 Victorian Budget provides the fiscal framework but lacks granular allocation details.
Reduced funding constrains program capacity, investment volume, and ecosystem-building activities. When government agencies get their budgets cut, the first things to go are usually the soft benefits – networking events, education programs, community building – in favour of measurable investments with clear ROI metrics.
The government is planning to cut overall investment and sharpen its funding profile. “Sharpen its funding profile” is government-speak for “be more selective.” Expect fewer programs, smaller grants, or higher bars for investment criteria.
Breakthrough Victoria’s statement emphasised the mission remains “turbocharge investment, build future industries, and deliver lasting economic transformation”. Whether that happens with $360 million less and a more conservative approach remains to be seen.
What role will Invest Victoria play in the transition and ongoing startup support?
The Silver Review envisioned Invest Victoria as the “single entry point” for all government-provided industry support. The plan was to consolidate LaunchVic’s grant and startup support programs within Invest Victoria.
That didn’t happen. The government gave grants and facilitation programs to the new hybrid LaunchVic-Breakthrough Victoria entity instead. Invest Victoria’s role shifted to coordination rather than direct funding administration.
What does that mean practically? Invest Victoria serves as your first contact point to be directed to appropriate programs and support. Think of it as the reception desk that routes you to the right department. Business Victoria already provides guidance through hotline 13 22 15 and the website business.vic.gov.au/grants-and-programs.
The single-entry-point model aims to reduce founder confusion navigating multiple government agencies. Whether that works better than the previous structure depends on how well Invest Victoria coordinates with the merged entity and how clearly they communicate program eligibility and application processes.
The logic behind centralisation makes sense on paper. In practice, you still need to understand which entity actually controls the funding you’re after.
How can founders with pending LaunchVic commitments navigate the transition period?
If you’re caught in the transition, here’s your action plan:
Contact LaunchVic directly for application-specific status updates. Use your application reference number and document all correspondence. Don’t wait for general announcements – you need specific information about your situation.
Prepare alternative funding strategies. The University Innovation Platform offers up to $150,000 per awarded startup through the BV Fellowship Program if you’re commercialising university research. The platform has 7 active university partnerships with $59.5 million in matched funding committed and has presented 38 unique opportunities to investment committees.
If you need immediate support and can’t wait for government transitions, Startmate offers $120,000 initial investment per startup with follow-on funding up to $500,000 via their Continuity Fund.
Monitor official Victorian Government channels for timeline updates and new entity application processes. Register for updates through both Invest Victoria and Breakthrough Victoria channels. Join Victorian startup community groups – peer intelligence often precedes official announcements.
Assess your cash runway realistically. If you’re counting on a LaunchVic grant or investment decision, assume 3-6 month delays and plan accordingly. The merger adds complexity to any bureaucratic process.
Document all existing commitments: grant agreements, investment terms, program participation confirmations. If questions arise about what was promised versus what gets delivered, having documentation matters.
FAQ Section
When will applications open for programs under the new merged LaunchVic-Breakthrough Victoria entity?
The government hasn’t announced specific application opening dates. The “precise shape is under development”. Register for updates through Invest Victoria and Breakthrough Victoria channels. Expect clarity as 2025-26 budget implementation progresses and new entity governance finalises.
Can I still apply for LaunchVic grants during the transition period?
No official guidance exists on accepting new applications during wind down. Contact LaunchVic directly for current application status. Consider applying to the University Innovation Platform or Breakthrough Victoria programs as immediate alternatives while the transition progresses.
Will Breakthrough Victoria continue the same types of equity investments as LaunchVic’s co-investment funds?
The merged entity will manage consolidated equity investments, but specific investment criteria, ticket sizes, and sector focus haven’t been disclosed. Breakthrough Victoria historically focuses on research commercialisation and deep tech. Whether LaunchVic’s broader SaaS and tech startup focus continues is unclear.
What happens to the LaunchVic ecosystem and community networks founders valued?
Community and network effects represent value beyond capital that founders fear losing. Government statements focus on funding mechanisms, not ecosystem-building functions. LaunchVic unlocked more than $1.5 billion in private capital through these networks. Whether the merged entity maintains this role is uncertain.
How does Victoria’s startup support compare to other Australian states after the LaunchVic closure?
Victoria is consolidating to a single hybrid entity while NSW maintains separate innovation and investment agencies. Queensland’s Advance Queensland continues a multi-program approach. Victorian founders may face reduced program diversity and funding accessibility compared to interstate peers during the transition. Victoria’s startups still achieved $748 million across 130 deals in 2024, a 29% increase from 2023, showing ecosystem momentum despite policy changes.
Are there emergency bridge funding options if my LaunchVic commitment is delayed or uncertain?
No official Victorian government emergency funding mechanism has been announced. Alternative options include Startmate accelerator ($120K), university commercialisation programs, private angel networks, or interstate government programs if eligible. Assess your cash runway and consider proactive fundraising rather than waiting for transition clarity.
Which LaunchVic programs are confirmed to continue versus definitively ending?
The University Innovation Platform ($100 million) is confirmed continuing under Breakthrough Victoria. Basecamp cohort 2 has reportedly been cancelled. The 30×30 Program potentially continues through 2026. Alice Anderson Fund and Press Play status remain uncertain. Expect program-by-program announcements as transition planning progresses – no comprehensive list has been published yet.
How will the merged entity differ from LaunchVic’s approach to startup support?
The merged entity will likely emphasise Breakthrough Victoria’s investment-focused, research commercialisation approach over LaunchVic’s ecosystem-building model. Reduced funding ($360 million cut) suggests fewer programs, smaller grants, or more selective investment criteria. The precise model is “under development”.
What should women-led startups do if the Alice Anderson Fund discontinues?
Explore private VCs with gender-lens investing mandates, angel networks focused on women founders, and mainstream funding options. Interstate options include NSW and Queensland government programs potentially accessible to Victorian startups. Build a case for fund continuation by engaging with government stakeholders and demonstrating community value.
Can I transfer my existing LaunchVic application to the new merged entity?
No official transfer process has been announced. Application processing authority during the transition is unclear – whether it’s LaunchVic staff, merged entity transition team, or Breakthrough Victoria personnel. Contact LaunchVic directly with your application reference number to determine specific handling and decision timeline.
What concrete actions should I take this month if I’m a LaunchVic portfolio company or applicant?
- Document all commitments and correspondence
- Contact LaunchVic for application-specific updates
- Register for Invest Victoria and Breakthrough Victoria communications
- Assess alternative funding pathways
- Connect with peer founders for community intelligence
- Prepare contingency fundraising plan assuming 3-6 month transition delays
Where can I find official updates about the LaunchVic transition timeline?
Monitor the Invest Victoria website as the “single entry point” for government startup support. Subscribe to Breakthrough Victoria updates. Follow Minister Danny Pearson’s official communications. Join Victorian startup community groups for peer-shared updates. No dedicated LaunchVic transition portal has been publicly announced yet.
