VICTORIA’S STARTUP ECOSYSTEM

Victoria is home to more than 3,500 startups – technology-driven companies that use innovative business models and technology to grow quickly and service global markets.

The enterprise value of Victoria’s entire startup ecosystem (including startups, scaleups and unicorns) is now $123 billion.

Melbourne’s early-stage Ecosystem Value has increased to $38.4 billion – up from $23.6 billion in 2022.

1/3

of the 3,500+ Victorian startups close to one third have been directly supported through a LaunchVic funded program.

21X

ecosystem growth since 2016.

63,900

jobs created globally

12.5%

increase in jobs since 2020

What is a startup ecosystem?

A startup ecosystem is a network of resources — people, investors, institutions, and companies — that works together to create an environment for startups to thrive.

The stronger the ecosystem the more likely a startup will be successful.

Startup Ecosystem Pie Chart
  • Founders are specialised entrepreneurs, central to startup ecosystems as they create and grow startups
  • Angel investors and venture capitalists provide capital, support and access to networks
  • Employees bring skills necessary for the development, marketing and roll-out of their products and services
  • Community builders and support services support founders and their teams to get the skills and networks to grow startups
  • Government sets policy and funds initiatives that encourage entrepreneurship
  • Universities and research organisations produce new ideas and nurture talent
  • Customers and business partners support startups to grow, by providing revenue and participate in M&A activities
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Victoria’s Strengths

HealthTech

HealthTech is Victoria’s joint largest sub sector, home to unicorns PolyNovo, Mesoblast, Clinuvel and Telix Pharmaceuticals.

 

Explore HealthTech

B2B/SAAS

Enterprise software is the other top sector. The technology to automate operations and help companies get the most out of every data point they hold.

Explore B2B/SAAS

FinTech

Freshly minted unicorns like Zeller and Judo Bank are quickly establishing Victoria as a global FinTech hub.

Explore fintech

EXPLORE STARTUPS THAT STARTED HERE

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Victoria has created 18 unicorns
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Support for regional innovators

While 25% of Victoria’s population resides in the regions, LaunchVic’s 2020 ecosystem mapping showed only 7% were based in regional Victoria.

To help more regional innovators to start up, LaunchVic funds a range of initiatives across Victoria including community meetups, founder education and pre-accelerator programs.

Get support to grow

Active government support to grow your startup

Alongside our flagship programs 30X30 and CivVic Labs, LaunchVic partners with world-class organisations to deliver accelerators, incubators, workshops, events and more to a diverse range of startup founders in Victoria.

Check out our Programs Directory to connect to a wide variety of LaunchVic-funded activity.

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