With world-leading R&D capability and an international education sector worth over A$13.7 billion, Victoria is an ideal place for research and product development.
Victoria's 10 universities are among the world’s best: the state has one university in the world's top 50 and two in the world's top 100 (QS World University Rankings 2022). Victorian universities with advanced research and development networks and capabilities include University of Melbourne, Monash University, RMIT University, Deakin University, La Trobe University and Federation University.
A launching ground for R&D
Victoria is a world-leading launching ground for research and product development with demonstrated commercial and global impact. This success rests on the state’s cutting-edge infrastructure and large talent pool. Victoria has more than 76,000 highly skilled researchers and related staff working at 'above world standard' across diverse disciplines.
The state’s large-scale R&D infrastructure includes major facilities such as the Australian Synchrotron, the Australian Nanofabrication Facility, Carbon Nexus, Data 61, the Oceania Cyber Security Centre and the CSIRO's Food Innovation Centre.
Melbourne is also home to world-leading education research and network institutes, such as the Grattan Institute and the Australian Council for Educational Research, who specialise in K-12 schooling as well as tertiary and VET.
On top of this, Victoria hosts a dense ecosystem of accelerators, incubators, precincts and clusters bringing together researchers, entrepreneurs and investors. These include:
- the Victorian Innovation Hub, home to a number of prominent accelerators and incubators, including LaunchVic, a network of entrepreneurs, investors, corporates and universities
- the Melbourne Biomedical Precinct, made up of over 40 hospitals, medical research institutes, biotechnology organisations and universities
- the Advanced Genomics Collaboration, a biomedical and economic powerhouse using genomics to create world-leading projects that improve health for everyone
- the Advanced Fibre Cluster, a group of highly innovative companies and organisations accelerating the growth of advanced fibre and composites manufacturing and innovation
- the Monash National Employment and Innovation Cluster, providing access to leading enterprise, infrastructure and dedicated capability that underpins the economic performance of priority sectors
- various CSIRO research hubs including the Food Innovation Centre.
A booming edtech sector
Supported by significant new investment since 2019, edtech is booming in Victoria. Melbourne is now home to a third of Australia’s edtech companies.
These companies are delivering data-driven platforms that integrate globally recognised practices through third-party technology. Apps and cloud-based learning products, such as 3P’s Mathletics and Reading Eggs gaming software engage younger audiences across mobile, console and computer and cater for the growth of online learning in Australian schools. Marketplace leaders Seek Learning, A Cloud Guru, Compass Education and Education Horizons have all captured opportunities to successfully launch innovative edtech products from Melbourne.
The Education Technology Consortium of Victoria (ETCV) is a network that develops best practice in the delivery of IT service to improve learning and teaching in schools
Incentives, grants and support
The Victorian Government has invested A$10.8 billion across the education sector over the past four years. Funding initiatives from the Victorian Government include:
- a A$128 million Tech Schools Initiative that provides additional cutting-edge tech facilities to Victorian schools and continues to foster access to industry partners
- the STEM Centre of Excellence, hosted by Science Gallery Melbourne in Parkville, as part of the University of Melbourne’s new innovation precinct
- a thriving Victorian Innovation Hub in Melbourne’s Docklands CBD that brings together tech and industry
- a new digital hub in Cremorne to up-skill Victoria's tech workforce, foster entrepreneurial startups and drive development partnerships.
The Victorian Government’s investment attraction agency, Invest Victoria, works with international companies seeking to enter the Australian market by identifying opportunities, providing assistance with business cases, and facilitating introductions to partners, suppliers, recruiters and government agencies.