Victoria’s startup ecosystem is outpacing global hubs like Singapore, Sydney, Tel Aviv, Stockholm, Amsterdam, and Berlin, according to the Victorian Startup Growth Report 2024 by LaunchVic and Dealroom.co.
The report reveals that Victoria is now home to over 3,500 startups collectively valued at AU$132 billion—a remarkable 26-fold increase since 2016, when LaunchVic was established, and the ecosystem was valued at just AU$5 billion.
A report by LaunchVic and global startup and VC platform dealroom.co has found Victoria’s entire startup ecosystem value has jumped from $91B to $103B in the past year.
After a couple of record years VC investment in Victorian startups has returned to 2018 levels, with $668M of VC investment reported as being raised between January and November 2023. This reflects a global downturn in VC funding.
A new report by LaunchVic and the Tech Council of Australia has revealed that despite reported layoffs in larger tech businesses, the demand for talent in the Victorian startup ecosystem remains robust.
