Innovation in Victoria
Victoria is a leader in innovation. Our capabilities have helped us build a strong economy and made Victoria one of the best places to live, study, work and do business.
We are an innovation powerhouse – responsive, inclusive, and thinking ahead.
Innovation Statement
Innovation transforms ideas or research into new commercial opportunities, businesses or industries. It creates job opportunities and drives economic growth.
Victoria has a long and proud history of innovation. Our achievements in innovation have shaped our lives and made their mark around the world.
Our Innovation Statement sets out the Victorian Government’s innovation agenda with six clear actions that will propel Victoria forward.
Download the Innovation Statement to learn more.
Actions from the Innovation Statement
We will invest in Victoria’s world-class research and innovation capabilities, and in translating outcomes into commercial opportunities. This will help grow our key industries and create new jobs, preparing us to tackle the big challenges of the future.
We will create wide-ranging opportunities for Victorians to upskill, reskill and develop new skills in fields such as medical research, digital, creative technologies, entrepreneurship and agtech so they can thrive in our economy, now and in the future.
We will continue to grow our startup ecosystem to rival the world’s leading startup locations, supported by local venture capital, creating more homegrown tech success stories and exciting jobs for Victorians.
We will support the development of key business and innovation precincts, where research institutions, businesses, accelerators, and startups can connect and collaborate.
We will continue to connect Victorian businesses to global supply chains, pursue opportunities to engage with world-leading innovators, and boost international investment in Victoria.
We will lead by example, embracing innovation in Victorian Government operations, service delivery and infrastructure, and putting people at the centre of everything we do.
Initiatives and investments
The VISTECH program supports Victorian and Israeli companies looking to collaborate on the development of new technologies.
The program, which is jointly managed with the Innovation Israeli Authority, will support companies conducting R&D to test or conduct pilots in both the Victorian and Israeli markets before releasing their product or service for export to global markets.
Visit the Business Victoria website for more information.
The Made in Victoria – Industry R&D Infrastructure Fund provides matched grant funding of between $250,000 and up to $2 million to eligible Victorian businesses, to invest in new or enhanced R&D infrastructure to support the growth of Victoria’s R&D capability across key industry sectors.
Visit the Business Victoria website for more information.
For further information on the types of investments we’re making into industry and innovation, visit Industry and innovation - What we do.
Page last updated: 11 March 2025