The GSER says
Melbourne’s maturing startup scene is home to more than 2,100 startups, nearly 500 investors, and close to 50 accelerators including, with germany cell phone database startup job growth hitting 10.75% between 2018 and 2020, translating to more than 5,900 jobs created.
Total VC investments in Melbourne surged to more than US$1 billion in 2019-2020, with the state government’s LaunchVic recognised for its efforts to support
LaunchVic CEO Dr Kate Cornick said the Startup Genome report demonstrated the strength and ongoing economic opportunities for the state.
“The steady rise of tech companies amid the course of a global pandemic has reinforced the resilience of startups in Victoria and the growing maturity of the sector. We continue to go from strength to strength, and in the past year we had some of the largest exits and acquisitions on record including Square’s commitment to acquire Afterpay for a record $39 billion,” she said.
Dr Cornick said Melbourne had a record number of exits between $50 million and $1 billion on par with Sydney, Amsterdam and Stockholm.
Total early-stage funding in Victoria increased from A$363m to $529m (35%) in a year.
“LaunchVic has been focused on addressing the early-stage funding gap and we’ve already seen promising results in the space of a year, with our new angel investor networks pumping millions into Victorian startups. I expect early-stage investment funding will be even more impressive next year when the Victorian Startup Capital Fund and Alice Anderson Fund really start to get underway,” Dr Cornick said.
The city was also identified for its strengths in
Life Sciences – attracting approximately AUD $511 million in Life Sciences funding each year, or 40% of the national total.
The GSER is the world’s most comprehensive and widely-read research on startups with 280 entrepreneurial innovation ecosystems and 3 million startups analysed.
You can download the Global Startup Ecosystem Report 2021 by Startup Genome here.