Last Updated: Tuesday 17 March, 2026
Victoria has a world-class research sector and innovation ecosystem, and both LaunchVic and Breakthrough Victoria have played a critical role in supporting this success.
Last year, the Victorian Government’s Innovation and Commercialisation Review confirmed that Victoria’s innovation ecosystem is strong and well supported, and that government investment has played a critical role in the growth of key sectors and innovation capabilities. As a result of the review, the Government is establishing a new entity to streamline support for innovation and commercialisation, and to further strengthen and grow Victoria’s globally recognised ecosystem.
The new entity will bring LaunchVic and Breakthrough Victoria together to strengthen Victoria’s innovation ecosystem, support the commercialisation of new ideas, and reinforce the state as Australia’s ‘ideas capital’. It will act as a unified ‘front door’ for supports, build the capability of our innovative people and companies and grow the capital available to innovators. This will help more founders, entrepreneurs and investors start, scale and invest in Victoria, boost Victoria’s economy and create high value jobs.
Work is progressing to integrate the functions of LaunchVic and Breakthrough Victoria into this new entity. A Transition Committee, including representatives from both LaunchVic and Breakthrough Victoria, is being established to ensure critical functions, expertise, and capabilities are fully integrated. The aim is to have the new entity operational early in the second half of 2026, with a Chair, Board and CEO in place ahead of launch.
While this process is underway, it’s business as usual at LaunchVic and Breakthrough Victoria. We are continuing our planned activities and remain committed to strengthening Victoria’s innovation ecosystem.
For more information, visit the Department of Jobs, Skills, Industry and Regions’ website below.
