Startups

Victoria’s thriving startup sector is one of the fastest-growing in the world – more than tripling in value in the last two years to be valued at $10.5 billion.

> As young and emerging companies with big growth plans and scalable offerings, startups are an exciting and essential part of Victoria’s innovation ecosystem that help develop new industries and create jobs.

For every single high-value startup job, five more jobs are created in associated service sectors in the broader economy.

Through our startup agency, LaunchVic, we have helped put Victoria’s startup ecosystem on the global map.

We will continue to grow our startup ecosystem to ensure Victoria remains an attractive destination to launch a startup – think California’s Silicon Valley, Berlin’s Silicon Allee and Tel Aviv’s burgeoning tech hubs.

By backing the big ideas of our homegrown entrepreneurs and supporting startups to scale, we’re building a robust investor landscape so they can take their ideas to the world.

If you’re an entrepreneur looking to kickstart a great idea, or you are an investor seeking new opportunities, we encourage you to connect with LaunchVic.

LaunchVic

LaunchVic is leading the development of a globally connected startup ecosystem in Victoria by supporting startups and investors to sustainably grow.

LaunchVic partners with world-class organisations to deliver accelerators, incubators, workshops, events and more to a diverse range of startup founders, entrepreneurs and industry trailblazers in Victoria.

Through LaunchVic, the Victorian Government is delivering a number of initiatives and programs including:

  • The Alice Anderson Fund – a $10 million fund that co-invests in women-led startups with private sector investors.
  • LaunchVic Accelerate – $40 million to support high potential startups to survive and grow.
  • Victorian Startup Capital Fund – A $60 million fund that leverages existing private sector venture capital funds.
  • CivVic – connecting government with startups to design better services for Victorians.

Learn more about opportunities, resources and support available through LaunchVic

Governor’s Startup Awards

The inaugural Governor of Victoria Startup Awards will be hosted at Government House in February 2022 and will recognise Victorian startup achievements across five categories:

  • Best Newcomer for firms less than three years old
  • Startup of the Year for those that have had a minimum Series A in the last four years
  • Scaleup of the Year for firms less than ten years old
  • Investor of the Year as nominated by the founder community
  • Ecosystem Hero of the Year featuring a People’s Choice and Experts’ Choice

Find out more and nominate someone you know at LaunchVic.

Updates and announcements

Visit the Innovation newsroom for the latest announcements, news and opportunities.

Spotlight on: Snobal’s virtual reality collaboration app

Helping people to collaborate and communicate more effectively has always been the compass point for Victorian virtual reality company, Snobal.

Snobal’s namesake – a British grandmother who was arguably the first person to make an online shopping order as part of a community telehealth initiative in 1984 – has continued to provide inspiration for the business since it was founded in 2014.

At the time, Snobal was among the first technology companies to use virtual reality. These days, Snobal is a global leader in virtual and augmented reality and the business continues to hold true to that vision of using emerging technology to help make people’s lives easier.

One area where Snobal has found an immediate use for its technology is helping people connect and collaborate in remote and online work situations.

When the pandemic hit, Snobal was quick to develop Snobal Sphere – a virtual reality collaboration app that enables people in different locations to meet, discuss and present in a virtual reality environment.

The app has also been taken up by the education sector with educators quickly needing to adjust to an online learning environment. Being a participant at Global Victoria’s Global EdTech & Innovation Expo helped Snobal shape this global trend and aid their expansion in international markets.

To find out more, visit snobal.io

Page last updated: 10 December 2021