Minister for Economic Growth Tim Pallas announced the winners of the third annual Governor of Victoria Startup Awards, honouring excellence in the state’s $103 billion startup sector.
“These awards celebrate the brilliant entrepreneurs, leaders, and investors across our startup ecosystem, who are creating jobs, boosting the economy, and contributing to Victoria’s reputation as an innovation powerhouse,” said Minister Pallas.
Digital Agriculture Services (DAS) took home the coveted Startup of the Year award for its satellite-mapping technology that predicts bushfire and disaster risk on rural properties.
Acusensus, which raised $20 million through its IPO and ASX listing last year, won Scaleup of the Year.
The company integrates AI into road safety cameras to detect distracted drivers and has expanded its operations to include a manufacturing facility in Las Vegas and an outpost in the United Kingdom.
HEX CEO and Co-Founder Jeanette Cheah received the Ecosystem Hero of the Year award for her global advocacy for Victorian startups.
Additionally, the awards recognised joint winners for both Investor of the Year and Best Newcomer, highlighting the broad talent within an ecosystem where the number of startups has more than tripled since 2017.
“It is a great pleasure to host these awards to recognise the ingenuity and determination shown by Victorians and to celebrate the entrepreneurial spirit that thrives in our state,” said Margaret Gardner, Governor of Victoria.
Data reported by the government stated that Victoria is home to over 3,500 startups, scaleups, and unicorns, employing an estimated 56,000 people globally, including around 26,000 in Victoria.
The Victorian Budget 2024/25 has allocated $40 million over four years for LaunchVic to continue supporting founders and startups, enhancing their access to capital by developing the sophistication of Victoria’s investor networks and leveraging government co-investment.
“Victoria’s ecosystem is a melting pot of startup founders brave enough to start companies; community champions that advocate for the sector; and investors that provide the capital, networks, and advice startups need to grow. It’s something we should be collectively proud of,” said LaunchVic CEO Kate Cornick.
For the list of winners and more about the awards, visit launchvic.org/governor-of-victoria-startup-awards.
