Challenge: Quantifying innovation's real value
Over the last decade, Melbourne’s startup ecosystem—stewarded by LaunchVic—has rapidly matured. But with increased public funding and policy focus, a compelling question arose: are startups delivering real, measurable impact to Victoria’s economy?
LaunchVic needed to validate the ecosystem’s growth trajectory with tangible data. This meant not only tracking the number of startups, jobs, and revenue but understanding more nuanced contributions—such as the ongoing value of acquired startups, spillover employment effects, and foreign investment flows. Traditional data sources couldn’t capture this complexity, and firsthand input from startup leaders was essential.