Start-up ecosystem in Victoria

Alt text: $129B Ecosystem valuation; 3,500+ Startups; In 2023 62% of VC investments were in health | fintech | real-estate; First half of 2023 $668M VC investments raised. 2nd in Australia for VC investment raised

Welcome to Victoria, where you can access one of the world’s most exciting and rapidly growing startup ecosystems.

Whether you’re based here in Australia or overseas, you’ll find a vibrant network of founders, investors, and government-backed initiatives, providing critical funding, industry connections, and resources to support business growth and scalability.

Explore how Victoria’s thriving ecosystem can accelerate your growth, investment, or expansion into some of the world’s most transformative industries.

Key statistics:

Victoria’s startup ecosystem is one of the world’s fastest-growing, valued at around $143 billion, a 29 fold increase since 2016¹
Victoria is home to over 3,800 startups and scaleups, including 20 unicorns¹
Victoria’s early-stage ecosystem has more than doubled from 2022 to EFY 2024 – up 62% to A$38.4 billion²
Melbourne is ranked #2 in Australia for VC investment raised by startups, $842 million raised in 2024³
High-growth startups span sectors like fintech, biotech, clean energy, and advanced manufacturing

Victoria has produced 20 unicorns!

A cloud guru Aconex Airwallex Carsales.com.au Clinuvel Culture Amp Judo Capital	Linktree Mesoblast Message Media MYOB Neuren Pharmaceuticals PEXA	Polynovo REA Group Redbubble Seek Telix Webjet.com.au Zeller

Introducing LaunchVic

LaunchVic, Victoria’s startup agency, fuels the growth of the state’s startup sector by building a vibrant and sustainable ecosystem. Through targeted investments in programs, events, and research, LaunchVic connects entrepreneurs with investors, mentors, and global networks.

Of the 3,800+ startups in Victoria, more than one-third have participated in a LaunchVic-funded program, highlighting the agency’s direct impact on the ecosystem.

The Victorian Start-up Ecosystem Dashboard

Dealroom Victoria is a free, real-time platform that provides founders like you with valuable data on Victoria’s startup ecosystem. It is managed by LaunchVic.

With Dealroom Victoria you can explore local resources, identify partners, and gain insights to help you thrive in Melbourne’s dynamic startup scene.

Start-up companies: Connect with peers and potential collaborators in your industry.
Investors: Find investors who align with your vision and stage of growth.
Funding: Access information on funding sources, from venture capital to government grants.
Workspaces: Locate co-working spaces and innovation hubs where your team can grow.
Accelerators: Explore programs designed to fast-track your startup’s success.
Universities: Leverage research, talent, and partnerships from Victoria’s top institutions.
Corporates: Build partnerships with established companies that support innovation.

Government initiatives and funding programs for start-ups

The Victorian Government has committed significant support to the startup ecosystem, largely through LaunchVic, established in 2016. Key programs that may be available to you include:

LaunchVic: Victoria’s start-up agency provides support for industry development - accelerators, training, talent development, advocacy (Domestic Application).
Startup Business Grants: Direct funding to startups. (FDI and domestic application).
Venture Growth Fund: Venture debt with $60 million in funding managed by Lighter Capital & OneVentures. (Domestic Application).
Alice Anderson Fund: $10 million fund for female tech entrepreneurs. (Domestic Application)
Hugh Victor McKay Fund: $2 million co-investment fund for Victorian AgTech startups run by LaunchVic with funding from Agriculture Victoria.
Victorian Business Growth Fund: $250 million SME fund in partnership with Aware Super. Managed by ROC Partners (Domestic Application).
Breakthrough Victoria Fund: $2 billion VC fund with a broad focus, from pre-seed to Series B.