Victoria's Ecosystem

We do the research...

LaunchVic estimates there are over 2000 startups. One in four founders are female... How do we know this? Because research is at the heart of what we do. In order to strengthen, develop and grow a competitive and globally recognised startup community in Victoria, we need to continue learning about the people, programs, sectors, employers and capabilities within it.

Victorian Startup Ecosystem Mapping Report

LaunchVic’s comprehensive annual analysis of Victoria’s startup ecosystem reveals the State is cementing its position as a leading destination for startup success, with increased investment and support infrastructure driving rapid growth in new startup figures.

The report found Victoria’s startup ecosystem is growing at 23% per anum. One in five of these new businesses are solving health and wellbeing challenges, a core strength of the state and a $30 billion sector.

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State of HealthTech - Victoria

As confirmed in the recent 2018 Startup Genome Report, Melbourne is one of the most important global health and life sciences ecosystems in the world.
 
Recognising this, LaunchVic commissioned dandolopartners to undertake a review to understand what the challenges and opportunities were to creating the right environment so that our health startups can thrive.

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Tech startups key to Victorian economy

Startup Genome’s ‘Melbourne Startup Ecosystem Report’, has found that Melbourne’s startup ecosystem is growing at a rapid rate given its current size.

As Melbourne’s ecosystem grows and achieves stronger global status there is the potential to add between $2.5 - $4 billion in value according to Startup Genome’s methodology used to measure the startup ecosystems of over 40 cities around the world.

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Digital Marketplaces

Despite the size of Melbourne’s startup ecosystem, we have had an extraordinary amount of success in building digital marketplaces. In fact, more than 190 digital marketplaces are currently located in Victoria, with the sector growing at 11% per annum - well above the State’s current industry growth rate of 3%.

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Startup Investment Snapshot

LaunchVic has an interest in ensuring the Victorian seed, angel and venture capital markets are strong. This report gives us a detailed understanding of the local investor landscape and a comprehensive snapshot of the investment journey of 385 startups, and 510 unique raises in Victoria.

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Mapping Victoria’s Startup Ecosystem

The largest survey of startups in Victoria to date, this report is a valuable resource for champions of the Victorian startup community and founders looking for the right support to grow their business.

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Startup Guide and Toolkit for Local Government

We have just released a Startup Guide and Toolkit for Local Government to identify and tap into startup and entrepreneurial activity in their local areas.

Supporting this is a new funding round for Local Government to run programs that will improve access and participation in the startup ecosystem across Victoria.

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About Victorian Startups

Victoria has a strong track record of proven success when it comes to transforming startups into high growth firms. Already, five ‘unicorns’ have emerged (REA Group, Carsales.com, SEEK, MYOB and Aconex) each valued at more than $1 billion – more than any other state in Australia.

Our Strengths

There's a sophisticated and diverse mix of startups across a variety of industries with particular strengths in Health and Wellness, Corporate Services, Media and Entertainment and Commerce. Significantly, startups in the health sector create a disproportionately large number of jobs for the number of companies operating in the sector.

  • Health and Wellness

  • Corporate Services

  • Media & Entertainment

  • Commerce

Funding and Monetisation

Startups in Victoria are successfully executing monetisation strategies very early in their journey, with 60% being revenue positive in their first year, and almost 80% by the second year.

The Average Founder

  • The average founder is 36. Females more likely than males to establish a startup past the age of 45.
  • Approximately 75% of all founders in Victoria are male, with the majority of founders (54%) educated to a Graduate Diploma level or higher.
  • Two thirds of founders were born in Australia, but the majority of founders (56%) have one or more parents born outside Australia, demonstrating the huge role immigration has played in creating the Victorian startup ecosystem.
  • 97% of Victoria’s startups are in Melbourne, with the top 10 locations for startups being: Richmond, South Melbourne, Prahran, St Kilda Road, Southbank, Collingwood, South Yarra, Docklands, St Kilda and Brunswick. After Melbourne, Geelong had the largest number of respondents. 

Startup Resources

All the knowledge you need to succeed

LaunchVic partners with world-class organisations to deliver accelerators, incubators, workshops, competitions and more to a diverse range of startup founders, entrepreneurs and industry trailblazers in Victoria. Check out the Programs section for the latest and greatest to hit our shores.