There is $100,000 is up for grabs for participants in the Great Regional City Challenge.
Voting is now open to select which of the 21 project applications will receive a slice of the cash support.
The organisation's president, Owen Tilbury, recently announced that the initiative was set to return following the success of its inaugural year in 2020.
"Our vision is that the Launceston community play an active part in making Greater Launceston one of the great regional cities of the world; a city that is creative, innovative, liveable, diverse and better connected," he said.
"We are pleased with the quality and variety of the applications and are excited to see what the community feels are the best projects."
Last year, the money involved came via donations from almost 40 businesses within the region.
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A dozen projects, selected by popular vote, split the GRCC seed funding and hands-on support between them.
These projects focused on a variety of topics including Launceston's river systems, building a healthier, more active region and creating a fun community.
This time around an array of new subjects will be introduced to the challenge.
These include creative projects like painting community murals on wasted wall space as well as more environmentally-minded endeavours focused on uses for waste food and clothing.
Mr Tilbury said the program was a solution to high community dependence placed on the government.
"We're planning on keeping this going, year on year, until 2030," he said.
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