Victoria has launched a new blueprint  for driving economic growth and creating jobs.

Victoria's Future Industries strategy is designed to grow priority sectors of the economy, supported by  a new A$20 million Sector Growth Program, funded from the Victorian Government's A$200 million Future Industries Fund.

The sectors primed for growth are medical technologies and pharmaceuticals, new energy technologies, food and fibre, defence technologies, construction technologies, transport technologies, international education, and professional services.

They have been chosen for their potential to deliver extraordinary economic growth for Victoria and the capacity to create high-skill, high wage jobs.

Collectively, they have the potential to generate up to A$70 billion in additional economic output and 400,000 new jobs by 2025.

The Sector Growth Program will provide up to A$1 million in matched funding to support new projects that create new jobs and help grow our future industries.

Two other Future Industries Fund programs are open for applicants – the A$5 million Future Industries Manufacturing Program and the A$20 million New Energy Jobs Fund.

More information about the Future Industries strategies and the $20 million Sector Growth Program is available at the Business Victoria website.