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 new 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.
Commissioned by Victoria’s Startup Agency, LaunchVic, ‘Scaling up: Growing the economic opportunity for Victoria’s startup ecosystem’ 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.
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.
We are pleased to share with you the 2022 Victorian Startup Ecosystem Mapping report – the fourth report we have developed in partnership with consulting and research firm, dandolopartners international. This report, developed using data from LaunchVic’s startup database powered by global data providers dealroom.co and Startup Genome, is the most in-depth report developed on the Victorian startup sector – for the sector.
Released in partnership with Dealroom this Report provides a picture of the VC funding landscape in Victoria for 2023.
This Report marks the first time we have had a holistic view of the enterprise value of Victoriaʼs entire startup ecosystem – collectively valued at $91 billion (AUD).
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.
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.
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.
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.
“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.
