Australia

Melbourne

Early-Globalization Phase

The Melbourne startup scene is flourishing through the convergence of ICT talent, growth in the number of startups, our commitment to inclusion, and the fact that we are one of the most liveable cities globally.

Kate Cornick
CEO at LaunchVic

Sub-sector Strengths

Life Sciences

In 2015, Spinifex Pharma was acquired by Novartis for $200 million, plus a potential $500 million in milestone payments. Telix Pharmaceuticals, a clinical-stage biopharmaceutical company, went public in 2017 at a valuation of $98 million. Successes like these highlight the role of the BioMelbourne Network in fostering the Life Sciences sector, as well as the national Biomedical Translation Fund (BTF). In 2017, BTF awarded a $5.7 million grant to SummatiX, a medical informatics startup.

Edtech

Edtech is the fastest growing sub-sector in Melbourne. More than 10% of startups are targeting the education sector. The University of Melbourne is a leader in educational research and was ranked #6 globally by QS World University Rankings in education in 2018. The state of Victoria has a large proportion of high-growth companies in Edtech, with 15% of scaleups operating in the sub-sector. Study Loans received a $55 million cash injection in June 2018.

Why you should invest in Melbourne

SOFTWARE STARTUP OUTPUT
1k-1.4k
GLOBAL AVG.
1,010
ECOSYSTEM VALUE
$2.2 bn
GLOBAL AVG.
$5 bn
Top 20 Global Ecosystem
Connectedness
Top 25 Global Ecosystem
Talent
3
Exit Growth
INDEX
7
Output Growth
INDEX
6
Funding Growth
INDEX

Reasons to move your startup to Melbourne

EARLY-STAGE FUNDING PER STARTUP
$155 k
GLOBAL AVG.
$284 k
TOTAL EARLY-STAGE FUNDING
$184 m
GLOBAL AVG.
$837 m
SOFTWARE ENGINEER SALARY
$64.3 k
GLOBAL AVG.
$58.3 k

Strong tech presence

Startups have access to corporate customers such as Alibaba, Google, Amazon which have all opened local offices. These have been joined by Fintech company Airwallex, which achieved unicorn status in 2019.

Inclusion

One-third of Melbourne’s founders are women, one in three founders are born overseas, and 2% of founders are from indigenous peoples—who are 1% of the total population.

Startup Community

Startup Genome
Partners & Members

Featured Articles from
Local Ambassadors

Daniel Shaw-Dennis
Daniel has over 20 years’ experience in technology and digital transformation. He has passion and experience growing organizations, enjoys the occasional keynote and a frequent coffee.
Daniel Shaw-Dennis | Ambassador
Would you like to be an ambassador in Melbourne?
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Get connected

Are you interested in diving deeper into this ecosystem? Drop us a message. Our Ambassadors and Partners can plug you in.