An updated report from Deloitte Access Economics has found the Victorian startup ecosystem has out-performed growth expectations from those forecast in its 2020 report.

Commissioned by Victoria’s Startup Agency, LaunchVic, ‘Scaling up: Growing the economic opportunity for Victoria’s startup ecosystem’ highlights that Victoria’s entire ecosystem value has almost doubled since the last report in 2020 up from $50 billion to $91 billion.

It also shows that despite Victoria’s population falling for the first time in almost 30 years, the Victorian startup ecosystem experienced a rapid expansion of its startup workforce, which increased from 37,000 in 2020 to 52,000 FTE jobs in 2022.