At the heart of the 2025 LaunchVic Gala, discover the startups receiving venture capital backing
Thriving Frontier Tech Ecosystem Blooms in Victoria, Australia
Victoria, Australia, is home to a vibrant and rapidly growing frontier technology startup ecosystem, with over 400 startups specializing in areas like deep tech, healthcare, advanced manufacturing, cleantech, and agtech. This thriving scene is supported by significant government investment, a growing venture capital ecosystem, and sector-specific breakthroughs.
One of the key players in this ecosystem is GonGlobal, a fertility startup developing a non-invasive, connected drug delivery platform. The platform aims to replace injections of five key fertility drugs and enable real-time communication between patients and clinicians. Notably, IVF began in Melbourne, Victoria, in 1970, making it a fitting location for this innovative venture.
In the healthcare sector, NanoCube, a nanorobotics firm founded by Lisa Milani and Shawn Goussos in 2021, is making strides in disease diagnosis and treatment. The company recently received a $3 million federal grant to accelerate its work on diagnosing and treating pancreatic cancer. NanoCube's achievements include winning the SXSW Sydney startup pitch challenge in 2023 and pitching in the international competition in 2024.
The clean energy sector is also seeing growth in Victoria, with the government investing $1.6 billion in renewable energy zones and funds aimed at clean energy tech startups. One such startup is YieldX, founded by Nadun Hennayaka in 2020. YieldX's cultivation system grows twice the amount of food at the same area, reduces capital cost, and significantly reduces labor, making it a valuable contribution to the sector.
Victoria's frontier tech sector is also benefiting from substantial government support. Initiatives like the Victorian Startup Capital Fund, the $2 billion Breakthrough Victoria fund for R&D and commercialization, sector-specific grants in areas like biotech and advanced manufacturing, and substantial tax incentives and loans are helping to foster innovation and growth.
Moreover, the venture capital and investor ecosystem in Victoria is growing, with multiple specialized funds emerging in Victoria focusing on frontier tech verticals. These include Advance VC (secondaries), Boson Ventures (deep tech), Unlock Capital (AI-native startups), and Scale (women-led startups).
The state's startup agency, LaunchVic, is also playing a pivotal role by investing heavily in the ecosystem. It recently committed an additional $3.75 million to fund university entrepreneurship programs, accelerators, and a range of venture capital (VC) funds collectively expected to raise over $275 million targeting early-stage companies from seed to Series A funding rounds.
The future of Victoria's frontier tech sector looks bright, with startups like Nomad Atomics building the next generation of exploration tools using quantum superposition. Nomad Atomics' shoebox-sized sensor differentiates it from competitors, and its first industry application will be in safe underground mining operations.
In conclusion, Victoria's frontier tech startup scene is characterized by strong government facilitation, robust venture capital engagement, sector-specific breakthroughs, and growing university-industry collaboration. This positions the state as a leading innovation hub within Australia and the wider Asia-Pacific region.
- The thriving frontier technology startup ecosystem in Victoria, Australia, includes companies like NanoCube, a firm specializing in nanorobotics and science, with a focus on disease diagnosis and treatment.
- The clean energy sector in Victoria is also advancing through technology, with startups like YieldX, which uses technology to grow twice the amount of food at the same area, contributing significantly to the sector.
