Australia’s national fintech association has received over a quarter of a million dollars in funding from LaunchVic.

A grant to the amount of $300,000 has been provided to Fintech Australia as it gears up for its inaugural fintech summit in November.

According to the Victorian Minister for small business, Philip Dalidakis, the partnership between LaunchVic and Fintech Australia will aim to bolster Victoria’s national fintech position.

“We want Victoria to be the location of choice for start-ups across the Asia-Pacific region,” Dalidakis said.

“Fintech Australia’s inaugural fintech summit will help young companies and ideas develop to create jobs and industries that will support Victoria for decades to come.”

The summit, which has been labelled ‘Collab/Collide 2016’ will gather entrepreneurs and executives in the alternative finance industry together for a multi-day conference featuring workshop events and discussion opportunities. Established corporate, officials and regulators will also be in attendance to discuss how to best guide the industry into its next phase of growth.