Mapping Victoria’s Startup Ecosystem report 2017
StartupVic | LaunchVic | Dandolo Partners | 28 August, 2017
Victoria is leading the way when it comes to turning startups into high growth companies.
Some of the key highlights from the survey of 1,137 Victorian startups includes:
- Victoria has a strong track record with three ‘unicorns’ (worth $1bn) – more than any other state in Australia.
- 60% are revenue positive in their first year and almost 80% by year two.
- 80% of firms provide a digital product or service.
- One third report they were/are bootstrapped, including firms in growth and later stages of development.
- More than two thirds of startups in Victoria are exporting to key international markets including the US and UK, as well as China and New Zealand.
- Victoria has 190 meetup groups specifically focused on startups and entrepreneurship. Startup Victoria is the largest meetup group with over 10,000 members.
- Over half of founders are working with mentors and advisors.
- The average age of founders is 36 years old (75% male). Females are more likely than males to establish a firm past the age of 45.
Good infographics summarise the important insights, very interesting and easy to read.