A fast-growing startup ecosystem for innovation and scale
$143B
Ecosystem valuation1
3,800+
Startups1
2nd
in Australia for VC investment
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 2016.1
- 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 FY24 – up 62% to A$38.4 billion.2
- Melbourne is ranked #2 in Australia for VC investment raised by startups, with $842 million raised in 2024.3
- High-growth startups span sectors like fintech, biotech, clean energy and advanced manufacturing.
Victoria has produced 20 unicorns!
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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 Startup Ecosystem Dashboard
Dealroom Victoria is a free, real-time platform that provides founders like you with valuable data on Victoria’s startup ecosystem. It's 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 startups
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: 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.
Sources
- LaunchVic ecosystem as at 21 November 2025
- LaunchVic Annual Report 2023-24
- LaunchVic ecosystem as at July 2025
FAQs
Victoria has one of the world’s fastest-growing startup ecosystems, valued at around A$143 billion. The state is home to more than 3,800 startups and scaleups, including 20 unicorn companies, demonstrating strong capacity to build globally successful businesses.
Melbourne is also Australia’s second-largest city for venture capital investment, with startups raising $842 million in 2024.
High-growth startups in Victoria span industries such as fintech, health and life sciences, enterprise software, clean energy and advanced manufacturing. The state hosts strong clusters in healthech and fintech in particular, supported by world-class research institutions, skilled talent and access to venture capital.
Victoria’s startup ecosystem is supported by government-backed initiatives and funding programs, including those delivered by LaunchVic and other investment funds. These programs connect founders and investors with accelerators, mentorship, venture capital and research partnerships, helping companies scale from early stage through to global expansion.
