Victoria’s Startup Scene Thrives: LaunchVic’s 30X30 Program Welcomes High-Growth Scaleups

February 19, 2025 02:15 PM AEDT | By Team Kalkine Media

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Victoria’s Startup Scene Thrives: LaunchVic’s 30X30 Program Welcomes High-Growth Scaleups — Image source: shutterstock

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Highlights

LaunchVic’s 30X30 program selects 11 scaleups with potential to achieve unicorn status by 2030.

The program has helped past cohorts raise over $600 million in funding.

Selected companies span industries like healthcare, gaming, cybersecurity, and construction.

Victoria’s startup ecosystem continues to flourish with the latest announcement from LaunchVic, the state’s startup agency. The highly regarded 30X30 program has unveiled its fourth cohort, selecting eleven high-growth scaleups poised for significant expansion. These businesses are set to benefit from mentorship opportunities with some of Australia’s most successful tech companies, including Atlassian (NASDAQ:TEAM), Canva, and Seek (ASX:SEK).

Growth in Numbers

Since its inception in February 2022, the 30X30 program has supported 28 scaleups across three cohorts, collectively securing more than $600 million in funding. The latest intake brings together a diverse mix of companies operating in construction, healthcare, gaming, cybersecurity, and hospitality.

The initiative is designed to help Victorian scaleups reach a valuation of $1 billion or more by 2030. Over a four-month period, selected companies receive expert guidance on challenges related to HR, operations, and finance—key areas that influence rapid scaling. Notably, most referrals for this year’s cohort have come directly from investors, signaling strong confidence in the companies participating in the program.

Driving Economic Impact

LaunchVic’s CEO, Kate Cornick, highlighted the immense potential of these scaleups, emphasizing their role in job creation and economic growth. State Minister for Economic Growth and Jobs, Danny Pearson, echoed this sentiment, pointing out that Victoria’s thriving startup ecosystem is helping entrepreneurs unlock new opportunities while strengthening the state’s economy.

By providing a structured pathway for scaleups to tackle operational challenges, the 30X30 program positions Victoria as a hub for high-growth businesses, reinforcing its reputation as a leading startup destination. With a proven track record of securing investment, this initiative continues to attract top-tier companies aiming for unicorn status in the coming years.

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