Dimension Data lands $450K Victorian grant for cybersecurity incubator

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Dimension Data lands $450K Victorian grant for cybersecurity incubator

Dimension Data has been awarded $450,000 from startup investment fund LaunchVic to establish a cyber security incubator.

DiData will set up the incubator at Deakin University's Waurn Ponds campus to help address the shortage in cyber security skills in Australia.

The initiative is one of 18 projects to have been selected for the first round of funding, which totals $6.5 million.

Deakin will also partner with La Trobe and Federation University for a $1 million regional accelerator program to gather the "brightest" minds of regional Victoria to boost the economy and agricultural jobs.

The creation of LaunchVic was led by Philip Dalidakis, minister for small business, innovation and trade. It is an independent company set to accelerate startups, drive new ideas and create jobs in Victoria.The projects selected among the first wave include large grants for startup hubs, incubators and accelerators alongside a range of smaller grants.

Minister Dalidakis said: "Victoria is leading the country in startup and small business growth, with around 8,000 new businesses created in the last year alone, and we need to ensure the right support is in place to help them thrive. The Andrews Labor Government is investing heavily in Victoria’s startup and tech sectors – the future of job creation in Victoria."

Other projects

Another accelerator to receive funds is Startup Bootcamp, which landed $600,000 and will launch in Melbourne in 2017. Meanwhile, $100,000 was awarded to the Lemonade Stand startup program for kids between 9-12 years old, while $1.25 million is being invested to create a major startup hub in Geelong.

LaunchVic chair Ahmed Fahour said: "LaunchVic’s first round of funding celebrates the fact that entrepreneurship comes in many shapes and sizes – there is no one ‘face’ that represents the startup ecosystem in Victoria. We will continue to work to enhance competition, collaboration and quality in the ecosystem, not duplicate what others do."

RMIT University will receive $100,000 for Bright Sparks, a leadership program to inspire, connect and prepare the next generation of female entrepreneurs in Victoria. Western BACE will get $50,000 for a digital marketing makerspace, a combined co-working space and business accelerator. Social Traders' employment-based social enterprise pipeline will receive $100,000. Fintech Melbourne will receive $30,000.

The foundations for young Australians will get $75,000 for the launch clubs, to build a network of local hubs in regional communities for young people while the iGen Foundation will receive $70,000 for its Young Entrepreneurs Mentoring Scheme, aimed at people from 15-30 years old.

Other recipients joining Dimension Data large ideas group include Convenory Campus, which was awarded $200,000 to build a tech and startup "destination" with laboratories, conference facilities and working zones. The Australian Sports Technologies Network will get $280,000 for an entrepreneur residence to support around 20 sports tech startups.

Inspire9 will get $650,000 for the Dream Factory makerspace. The Fifth Institute will get $200,000 for startups run by people over 50 years of age. Rocket Seeder has been awarded $675,000 for an accelerator program focusing on supporting innovation in agricultural technology.

LaunchVic has also entered into an exclusive agreement with Fintech Australia to host the inaugural FinTech Australia conference in Melbourne in November this year, to be funded by a $300,000 grant.

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