These high-potential sectors will provide business and industry the confidence to invest, while at the same time sharpening Victoria’s competitive advantage. They include:
Advanced manufacturing and defence
Health technologies and medical research
Circular economy
Digital technologies
Agribusiness
These sectors have been carefully chosen to align with the Statement’s four key actions: open doors, cut red tape, build new skills and reach every community.
The Victorian Government will turbo charge these five priority sectors with a new $20 million Victorian Industry Development Fund. This fund will encourage investment from industry by delivering matched funding through grants and providing loans to innovative Victorian start-ups and scale-ups and will be released in early 2025.
The new Boosting Business Skills Mentoring Program will also be established, providing up to 1000 small businesses across the Government’s five priority sectors with free mentoring sessions from an experienced professional.
There will also be the establishment of the new Premier’s Business Council – providing a direct line of engagement between business and government. Ahmed Fahour AO, CEO of Gurner Group and former CEO of Australia Post, NAB and Latitude Financial Services will serve as the Council’s Chair.
The other members of the Council are made up of leading businesspeople from multi-nationals, small businesses, and from a diverse range of sectors including manufacturing, finance, education, retail, the arts, sports, housing, media and philanthropy. These members are:
Andrew Dillon, CEO of the Australian Football League (AFL)
Andrew Irvine, CEO of National Australia Bank
Anthony Pratt, Chairman of Visy
Bihong Wang, President of Asian Australian Business Association of Whitehorse
Carol Schwartz AO, Chair of Equity Trustees and Our Community, Director of Trawalla Group, Member of Board of the Reserve Bank of Australia
Carolyn Viney, CEO of Assemble
Elizabeth Lewis-Gray, Co-Founder and Chair of Gekko Systems
Lisa Barron OAM, Founder of Lisa Barron, Melbourne Made Womenswear Designer
Mark Mentha, Co-Founder and Partner at KordaMentha
Mike Schneider, CEO of Bunnings
Mitu Bhowmick Lange AM, Founder and Director of Mind Blowing Films
Nick Reece, Lord Mayor of the City of Melbourne
Penny Fowler, Chair of Royal Botanical Gardens, Tourism Australia and the Good Friday Appeal
Professor Sharon Pickering, Vice-Chancellor and President at Monash University
Invest Victoria is committed to helping businesses and investors capitalise on the opportunities and initiatives outlined in the Economic Growth Statement.
