LaunchVic and Startup Genome have teamed up to spotlight Melbourne’s entrepreneurial ecosystem in the Global Startup Ecosystem Report:

• Ranking as the #32 Global Startup Ecosystem, moving up one spot from GSER 2023

• #2 ecosystem in the Oceania Region

• The ecosystem created US$26.5 billion in Ecosystem Value from Jul 01, 2021 to Dec 31, 2023, representing 23% compound annual growth compared to Jul 01, 2019 to Dec 31, 2021 time period. Ecosystem Value is a measure of economic impact, calculated as the value of exits and startup valuations.

• Top 30 Global Ecosystem and #1 Oceania Ecosystem in Talent & Experience — measures long-term trends over the most significant performance factors and the ability to generate and keep talent in the ecosystem

• Top 30 Global Ecosystem and #2 Oceania Ecosystem in Performance — measures the size and performance of an ecosystem based on the accumulated tech startup value created from exits and funding

• Top 40 Global Ecosystem and #2 Oceania Ecosystem in Funding — measures innovation through early-stage funding and investor’s activity

• #2 Oceania Ecosystem in Knowledge — measures innovation through research and patent activity

• #5 Oceania Ecosystem in Affordable Talent — measures the ability to hire tech talent

• Top 10 Oceania Ecosystem in Bang for Buck — measures the amount of runway tech startups acquire, on average, from a VC round

• The AI, Big Data & Analytics, Life Sciences, and Fintech sectors are highlighted for their density of talent, support resources, and startup activity

“The Victorian startup ecosystem, while still young, has shown consistent and incremental growth since 2016. It’s important we continue to drive this growth via programs that support startup creation and through measures that address the early-stage funding gap for startups in Victoria.” — Professor Kate Cornick, CEO, LaunchVic

The Report is driven by a consortium of representatives from 40+ countries and looks at the current state of startup activity and related investment, providing insights and guidance to public and private leaders on how to foster thriving startup communities — the #1 engine of job creation and economic growth. Contributions from expert thought leaders and local key players further enrich the report's extensive, evidence-based findings, which are the product of over a decade of Startup Genome's independent research and policy work.

"As specialists in policy-driven economic transformation, we take immense pride in Melbourne's outstanding performance in the 2024 Global Startup Ecosystem Report," states Stephan Kuester, Managing Partner at Startup Genome. "Teaming up with our esteemed local partner, LaunchVic, we celebrate the ecosystem's continued rise in the ranking as the #32 Global Startup Ecosystem and impressive $26.5 billion reported in Ecosystem Value.