Are Launch-Vic funded programs returning on investment?

Ms PATTEN (Northern Metropolitan) — My question is for the Minister for Trade and Investment and Minister for Innovation and the Digital Economy. As you know, Minister, I have taken an interest in innovation and firmly believe that giving young and innovative companies the support they need now will drive innovation, productivity and prosperity into the future. To this end the concept of a $60 million government start-up fund is a very sound one. But on cursory scrutiny of LaunchVic I am concerned that it is missing the mark. Can the minister detail whether LaunchVic-funded accelerator programs are being measured to ensure that they are in fact stimulating growth in the start-up sector and generating a return on investment?

Ms PATTEN (Northern Metropolitan) — Thank you, Minister. As I did mention in my substantive question, I was actually seeking details on how this was measured, but I appreciate the message. As for my supplementary question, I will just point to one example. In funding round 1, LaunchVic provided $100 000 to the provider Social Traders to, and I quote:

… strengthen the pipeline of accelerator-ready social enterprise ideas through workshops, networking events, clinics and pitch fests …

It appears that this $100 000 was spent by Social Traders on providing four workshops and some networking events. Can the minister detail how well these workshops were attended and what tangible outcomes were achieved from this investment?