Lisa Ring and Family Scholarships Terms and Conditions

Application Terms & Conditions – 2025 Scholarships

State Library Victoria has a business support service called StartSpace. StartSpace was launched in 2020 to provide a community and coworking space to early-stage business founders who are residents of Victoria, over 18 years old. StartSpace is open and inclusive for everyone to learn, connect and access resources to build a new business.

StartSpace is pleased to invite individuals, or teams of two, who meet the following criteria to apply for one of two Lisa Ring and Family Scholarships (Scholarships):

How to apply:

Applications for the Scholarships must be submitted via the online application form by the individual, or by a team member who is nominated as, the ‘Primary Applicant’. Applications must be received by StartSpace by 23:59PM (AEST) on Sunday, 15 September 2024 (Deadline). Please note Applications are now closed for the 2025 scholarships and no late applications will be accepted.

Section 1 – Eligibility Criteria

  1. In order to be eligible, the Primary Applicant must be:
    1. 18 years old or over at the time the application is submitted;
    2. A Victorian resident;
    3. Able to commit to being a Victorian resident for the duration of the program;
    4. A founder or co-founder of the early-stage or startup business;
    5. Developing a lawful, early-stage business or startup (early-stage means at idea stage or validation/testing stage that is pre-revenue or minimal revenue according to the LaunchVic’s Startup Framework (PDF – page 14) please review this document to ensure that this criteria is met);
    6. In possession of a personal Australian Bank account in their name, or a business Australian Bank account linked to their name, and into which they can receive scholarship funds (if successful). The bank account must be with an authorised deposit-taking institution based in Australia.
    7. If the Primary Applicant successfully becomes a Recipient (the “Scholar”) of a Lisa Ring & Family Scholarship, they shall commit to fulfil the below duties:
      1. Committed to in-person attendance at  the scholarship presentation at the Breakfast Celebration Event on 31 October 2024 held in StartSpace;
      2. Committed to reporting duties, including delivery of:
        1. A Progress Update Report (mid-term report) by May 2025,
        2. A Final Scholarship Report (end-of-term report) by October 2025
        3. Both reports require a summary of how the scholarship seed funding has been used in building the business, what progress and achievement has been made, and key learnings and benefits drawn from the bespoke program during the period; Details and specific format will be agreed upon through the course of the Scholarship between the “Scholars” and StartSpace staff.
      3. Committed to join quarterly check-in meetings with StartSpace team including an initial scholarship meeting in January 2025;
    8. Able to provide supporting documentation as required by StartSpace or the Library;
    9. Able to submit the application before the Deadline; and
    10. Able to submit an application that meets the requirements of the Selection Criteria.

2. Additional team member / co-founder (Co-applicant)

  1. In order to be eligible to be included in the application as a Co-applicant, the other person (if any) included in an application must meet the same criteria as the Primary Applicant other than points 1.6.
  2. If the Co-applicant does not meet the eligibility requirements, he/she/they shall not be included in the application and therefore will not enjoy the “bespoke business support” benefits of the scholarship even if the application is successful.
  3. The Scholarship’s seed funding payments will only be made to the selected Primary Applicants.

3. Personal information of Co-applicant

  1. The Primary Applicant must warrant that the Co-applicant has consented to their personal information being shared with StartSpace in the application and for the purposes of the assessment of applications, and for promoting the Scholarship.
  2. The Primary Applicant must ensure that they give a copy of these Terms and Conditions to the Co-applicant.
  3. The Library may ask the Primary Applicant to provide proof of compliance with these requirements.

Section 2 – Selection criteria

Applications will be assessed based on responses to the following criteria:

  1. Market & problem (20%)
  • What is your business idea / business model?
  • How did you come up with it?
  • Can you demonstrate a clear understanding of: target customers, the problem you are trying to solve and the addressable market for your business?

2. Solution & Innovation (20%)

  • Demonstrate how your service or product solves this problem for customers or fills a demand in the market? (i.e. product market fit)
  • What’s new and innovative in your solution? 

3. Founder Strength & Fit (20%)

  • Demonstrate how you (and Co-applicant if applicable) are particularly setup for success to deliver your solution – why are you best placed to deliver on this idea (e.g. lived experience, skills, networks, knowledge).

4. Scholarship Impact (30%)

  • Describe how this Lisa Ring & Family Scholarship and its benefits will change the runway of your business?
  • How much of a difference would this scholarship make to what you are trying to achieve?

5. Traction (10%)

  • Demonstrate what you have achieved so far and what goals have been set to be undertaken in the next 12 months?

Section 3 – Application Assessment

  1. StartSpace staff will assess all eligible applications based on the criteria in Section 1 and Section 2, and select a shortlist of up to 10 applications for consideration by a selection panel which may include the philanthropist Lisa Ring, representatives from SLV Board and StartSpace staff.
  2. The selection panel will determine which eligible applicants will be offered the two available scholarships in 2025. As part of the assessment process, the selection panel may contact applicants via telephone or teleconferencing to clarify the information provided in their application.
  3. StartSpace will contact the Primary Applicant by phone between 18 October and 22 October 2024 to let them know that a Scholarship offer will be emailed to them. A Primary Applicant who wishes to accept an offer must reply to an email offer from the StartSpace team before 5pm on 25 October 2024. If email acceptance of an offer is not received by the StartSpace by 5pm on 25 October 2024, StartSpace may offer the scholarship to another applicant.
  4. The Primary Applicant will become a Recipient (the “Scholar”) of Lisa Ring & Family Scholarship if StartSpace receives an email reply accepting the offer by the time specified by StartSpace.

Section 4 – Payment

  1. The Primary Recipient (The Scholar) will be eligible to receive the following Scholarship benefits:
    1. $10,000 AUD ex GST in seed funding into their bank account.
    2. Up to $20,000 AUD in value bespoke business support, including:
      1. 12 months StartSpace LOFT Membership (January – December 2025) for the Primary Recipient
      2. Bespoke program of support which may include mentoring, coaching, training, attending conference, events and/or one additional StartSpace LOFT membership for the Recipient’s Co-applicant (co-founder or team member). The scope of these benefits available to any individual recipient will be assessed on a case by case basis.
  2. The seed funding will be transferred by electronic transfer in 3 payments at specified milestones:
      1. $4,000 AUD ex GST at the commencement of the Scholarship in January 2025
      2. $3,000 AUD ex GST in March-April 2025
      3. $3,000 AUD ex GST in June 2025
    2. In order to receive the payment, the Recipient must properly complete all required financial paperwork provided by the Library including:
      1. State Library of Victoria Invoice Supplier Form, which must be completed and submitted at the commencement of the program.

Section 5 – StartSpace Loft Membership

  1. Sponsored access of up to 2 hot desks in StartSpace Loft space will be provided to Recipients.
  2. Access will be subject to the completion of a StartSpace Membership Application form and completion of induction in January 2025 and last for the duration of the program. Access arrangements, including commencement, cannot be changed.

 

Section 6 – Media & publicity

Recipients agree that their names, photograph and a brief description of their business or idea may be published in the StartSpace and Library websites and channels to promote the Scholarship program. Recipients consent to the use of their personal information for this purpose.

 

Section 7 – Diversity & Inclusion

State Library Victoria and The Lisa Ring & Family Scholarship is committed to promoting gender equality, diversity and inclusiveness. We recognise diversity as differences in gender, age, cultural and linguistic diversity (CALD), disability, sexual orientation, gender identity, geographic location and socio-economic status.

 

Section 8 – Library and StartSpace Terms

By accepting a Lisa Ring & Family Scholarships offer, the Recipients agree to be bound by the following Terms and Conditions of StartSpace membership. These Terms and Conditions apply in addition to any other terms and Library requirements including the Library’s entry and service policies.

 

Section 9 – Privacy

State Library Victoria is collecting your personal information to assess your application and communicate with you about your application. We will publish your name, summary of your business idea on the StartSpace and Library websites and channels if your application is successful. We may also use personal information to assess and improve our performance and offerings, and to fulfil the Library’s functions under the Libraries Act 1988 (Vic).

We use third party systems and servers which may be located outside Victoria.

If you do not provide the requested personal information, we cannot progress your application and you cannot participate in the Lisa Ring & Family Scholarship application.

We manage personal information in accordance with applicable laws, including the Privacy and Data Protection Act 2014 (Vic), and our Privacy Policy.

You can access your personal information by writing to our Privacy Officer at [email protected] or State Library Victoria, 328 Swanston Street, Melbourne VIC 3000.

The Scholarship Program is an initiative of the Library Board of Victoria, a body corporate established under the Libraries Act 1988 (Vic), trading as State Library Victoria (Library);

For more information please contact the StartSpace team at: [email protected]

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