Victoria will deliver a $20 million boost to five priority sectors, including advanced manufacturing and health technologies, through a new industry development fund.
The fund, which will provide matched grants and loans to startups and scale ups with “high growth potential”, comes as the government prepares to release its first industry policy since 2018.
The government has also revealed plans to realign the state’s existing $2 billion venture capital fund around that of the new priority sectors.
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