The Victorian Government is allocating up to A$20 million in grants to support local researchers who are leading the fight against cancer.

Twenty nine research projects will be supported through the Victorian Cancer Agency, which has invested more than A$150 million in cancer research since 2006.

Projects will concentrate on blood, breast, bowel, head and neck, lung, melanoma, oesophageal, ovarian, pancreatic and prostate cancers.

This is the first time, health services have received funding for cancer research that focuses on improving patient quality of life.

The Victorian Cancer Agency Translational research is designed to fast-track the conversion of ground breaking cancer research findings into clinical practice and new treatments.

This is designed to deliver better care and outcomes for cancer patients.

The investment also creates jobs by building a highly-skilled cancer research workforce, and attracting and retaining renowned clinicians and researchers.

Health data in 2014 showed that 30,585 Victorians were diagnosed with cancer with 10,744 dying from the disease. This equates to 84 new diagnoses and 29 deaths every day.

The five-year survival rate for Victorians diagnosed with cancer is now 67 per cent compared to 60 per cent five years ago and 47 per cent 20 years ago.

This is a tribute to Victoria's investment in cancer prevention, treatment and research.

Victoria is also investing in cutting-edge cancer prevention, providing A$2 million to plan and develop a National Centre for Proton Beam Therapy, as well as A$25 million to develop a state-wide genomic sequencing program.

From mid-2016, the A$1 billion Victorian Comprehensive Cancer Centre (VCCC) will be a new and expanded home for the Peter MacCallum Cancer Centre.

The VCCC will also provide new state-of-the-art cancer research and clinical facilities and more than 25,000 square metres of dedicated space for over 1200 cancer researchers.