Paul Little’s seed investment program, Skalata Ventures, makes its first investments including F1 engineers using driving simulators to make roads safer.

Melbourne billionaire Paul Little’s new seed investment firm, Skalata Ventures, has revealed the first 10 of the 60 startups it plans to invest in over the next three years.

The former Toll Holdings boss set up the fund this year with fellow business leader Carol Schwartz and CEO, Rohan Workman, the former Melbourne Accelerator Program (MAP) director. LaunchVic tipped $3 million into the venture.

Skalata offers up to $250,000 in funding to early-stage businesses as part of a push towards transforming Australia into a knowledge economy. The investment also includes a six-month tailored program, offering operational support, access to the Skalata network of investors, prospective customers and advisors.

The 10 startups chosen range from agtech to a key delivery service for Airbnb, a customer engagement platform and a service matching volunteers with not-for-profit groups. Skalata Ventures is looking to invest in 60 ventures in total over three years – another 20 next year and 30 in 2021.

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