A recent report reveals that Victoria is rapidly becoming one of the world’s leading startup hubs, with over 3,500 startups currently based in the state.
Since 2016, the value of Victoria’s startup sector has surged from $5 billion to $132 billion—a 26-fold increase. This growth outpaces major global hubs such as Singapore, Sydney, Tel Aviv, Stockholm, Amsterdam, and Berlin. Over the past two decades, the sector has also created more than 63,000 new jobs.
Investment in startups continues to thrive, with $841 million invested over the past year alone. This figure is 7.5 times higher than in 2014, significantly exceeding the global average growth rate of 3.4 times during the same period.
Universities have played a key role in this success, with approximately 180 startups emerging from university environments. These startups represent 5% of the state’s total and contribute $2.9 billion in value.
The report also highlights initiatives like the University Innovation Platform, which supports university research and ideas to grow into successful businesses that create jobs.
Victoria’s startup ecosystem shows strong momentum and is positioned to compete with some of the world’s top innovation centers in the coming years.
For the full report, visit launchvic.org.