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Labor: ‘Startup Year’ A Plan To Kick-Start Young Entrepreneurs In Australia

Labor has announced that if it form government after the next election they will establish a ‘Start-up Year’ to kick-start Australia’s aspiring young entrepreneurs.

Labor’s Startup Year would be available to 2,000 students each year who want to establish a startup within a university (or similar) accelerator or incubator, which would help them through mentoring, gaining business skills and capital.

This program would be funded by means of the government’s Higher Education Loans Programme Delivering this within the existing HELP system would present a Start-up Year as a continuation of study for the participants and have the benefit of securing a concrete commitment from students who are serious about starting their own venture.

Labor has stated that the Startup Year program will have the aim of building a culture of innovation and creativity in Australia by allowing students to test their ideas, gain business knowhow and connect with mentors and investors.

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