Melbourne, Victoria is a global hub for innovation, home to over 25,000 tech businesses and a talent pool of 300,000+ ICT professionals. As a nexus of entrepreneurship and world-class research, Victoria's cutting-edge capabilities foster a thriving digital economy.
A Thriving Digital Economy
The digital technology sector is a key driver of Victoria's economy, enhancing productivity and innovation across all industries. Victorian digital technology businesses generated over $142 billion in revenue in FY24, powered by key sectors including AI, SaaS, EdTech, Digital Games, Quantum, Cyber Security, and Fintech.
World-Class Talent Pipeline
Victoria is home to a fast-growing pool of highly skilled tech professionals, accounting for approximately 30% of Australia's national technology workforce. Victoria's education system produced more Science, Technology, Engineering and Mathematics (STEM) graduates in 2022 than any other region in Australia or Singapore.
Export-Ready and Globally Connected
Export is critical to Victorian digital technology growth, with over one-third of Victorian digital tech businesses exporting internationally, and exports making up nearly half of their revenue.
🇸🇬 Singapore is Victoria's 4th highest priority export market, behind only the USA, UK, and New Zealand - demonstrating the strong existing ties between our regions.
Leading the AI Revolution
Victoria is at the forefront of ethical, intelligent AI development. Melbourne's CBD hosts 188 AI companies - Australia's most significant single AI cluster - and is home to over 20% of Australia's AI startups and scaleups.
Key strengths include:
- ⚡ 3 AI supercomputers - at La Trobe University (medical/biotech), Monash University (medical/climate), and ResetData's sovereign public AI supercomputer in Melbourne's CBD
- 🏛️ 6 Victorian universities with dedicated AI centres, including the University of Melbourne AI & Autonomy Lab, RMIT AI Innovation Lab, and Deakin Applied AI Institute
- 💰 Strong government backing, including $10 million for La Trobe's Australian Centre for AI in Medical Innovation and support for Boab AI, Australia's first AI-focused scaleup accelerator
Key sector opportunities for AI include Infrastructure, Smart Cities, Robotics & Automation, Health & Life Sciences, and Smart Agriculture.
World-Class Data Infrastructure
Melbourne is rapidly becoming a regional data centre powerhouse:
- 📊 47 co-location data centres (one in five of Australia's total)
- 💵 30% of Australia's $30 billion data centre sector
- Major players include NextDC, Equinix, Microsoft Azure, Amazon AWS, IBM Cloud, Oracle, CDC, and AirTrunk
- ✅ More cost-effective to build and operate than Singapore, Jakarta, or Kuala Lumpur
- ⚡ Competitive power pricing compared to other Australian cities
Growth is fuelled by AI expansion, cloud gaming, the metaverse, and strong R&D, finance, and quantum sectors.
Government Support
The Victorian Government is committed to nurturing its digital ecosystem through:
- Investment in AI infrastructure and research centres
- Support programs like Boab AI and the Cremorne Digital Hub
- Access to world-class infrastructure, skills, and funding
- A supportive regulatory environment for innovation
Victoria's strategic location, available land, talented workforce, and strong government backing position Victorian businesses to succeed globally.
Contact us
The Victorian Government has four offices across Southeast Asia - in Singapore, Malaysia, Indonesia, and Vietnam. Our in-market teams are here to help you:
- Connect with Victorian tech companies and partners
- Navigate investment and collaboration opportunities
- Access Victoria's innovation ecosystem and support programs
- Explore market entry pathways into Australia
