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.
Startup Employment in Victoria 2021
A report led by LaunchVic and Dealroom has revealed the Victorian startup sector is the State’s new jobs’ growth engine. Year-on-year startup job growth reached record levels of 10.75% between 2018 and 2020 - higher than the ABS's 3.1% Pre-Covid estimate for Victoria's economy.
Discover some amazing insights in 'Startup Employment in Victoria', where real-time data was used to demonstrate the role which startups play in creating new jobs for Victoria and the sector’s potential growth trajectory.
Victorian Startup Ecosystem Mapping Report 2020
Victoria’s startup sector has the foundations to support high-value jobs growth in the thousands every year, which will be crucial in the state’s recovery from the effects of coronavirus (COVID-19).
The annual Victorian Startup Ecosystem Mapping report identified a growing network of almost 1,900 local startups employing almost 37,000 people in early 2020.
Deloitte Access Economics – The economics and impact of Victoria’s startup ecosystem
Commissioned by LaunchVic, Victoria’s startup agency, ‘Productivity is not an accident – The economics and impact of Victoria’s startup ecosystem’ found that Victoria’s early-stage startup sector revenue was $4.6 billion in 2019, representing almost 19,000 jobs.
Exploring two distinct but plausible future growth paths, Deloitte Access Economics modelled the potential economic impact of increasing startup density from 330 per million people to 750 per million people, on Gross State Product (GSP) and employment over 20 years to 2038.
The report found that Victorian startup ecosystem has the potential to support, on average, an additional 15,700 jobs each year to the broader Victorian economy over the next 20 years.
Best Practices for Angel Networks
"The challenges associated with angel investment highlights a missing link in Australia's startup funding landscape which is inhibiting early-stage startups from scaling and realising their economic potential. While Victoria is home to some of Australia's best angel investors, the number of angel investors and angel networks is substantially below global benchmarks" LaunchVic CEO, Kate Cornick via the AFR.
Learn more about the current Victorian Angel Network landscape and what how best bolster the amount of early stage capital for startups within our ecosystem.
The SportsTech Report
In any fast-evolving ecosystem, a sense-check at certain points on the growth trajectory is vital to its sustainable development. As such, we wanted to take stock as Victoria’s startup ecosystem begins to accelerate exponentially, taking the opportunity to map out the global SportsTech landscape, and distil insights about the local ecosystem’s strengths, prospects, sentiments and potential for growth.
We found that there are currently 112 SportsTech organisations in Victoria, mostly located in Melbourne. Discover more key insights throughout the SportsTech Report.
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.
Startup Genome Report: Melbourne's Life Science Sector Among Best in the World
Melbourne’s Life Sciences startup community has doubled in a decade to become home to more than 200 Medical and Biotech startups. With one in five Victorian startups related to health, it’s the state’s largest sub-sector in the AU$10.5 billion startup ecosystem.
• Melbourne lands in the top 10% of global Life Science startup ecosystems.
• 70% of the deals in the Life Science sector in the large Oceania tech hubs are made in Melbourne.
• Life Science strengths lie in infrastructure and quality and access to talent.
State of HealthTech - Victoria
As confirmed in the 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.
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.
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%.
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.
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.
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.
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.
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
Media & Entertainment
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 ResourcesAll 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.