Victoria's thriving economy

Victoria is a key contributor to Australia's status as the 13th largest economy in the world. The Victorian economy is larger than Singapore, New Zealand or Ireland. World leading companies such as GlaxoSmithKlein, Bosch, Siemens, USA Cargill, Synnex, Eventbrite, Ali Baba and many more are headquartered in Victoria.

Many industries thrive in Victoria including ICT, medical technologies, biotechnology and pharmaceuticals, health and aged care, agriculture and food processing, clean technology, professional and financial services, transport, defence and construction technology.

New energy technology

Victoria has easy access to world-class renewable energy resources in wind, solar, marine and biofuels. In the past twenty years we have been at the forefront of energy sector development in Australia, leading electricity market reform.

Victorian agriculture and food processing

Victoria is the home of food and agribusiness innovation in Australia, with competitive advantages in supply chain management, access to Research and Development (R&D) and links with industry groups. Victoria has built on its agricultural capability to become Australia's leading food and fibre exporting state. Find out more about why Victoria is a leader in food processing.

ICT in Melbourne

Melbourne has been named as one of the best cities in the world for tech firms, so if ICT is your area of interest, we are a great study destination.

Life and health sciences

Melbourne is a global research and development hub for clinical trials, biotechnology and medical research.

Industry collaborations

Victorian universities are known for a strong culture of collaboration with industry. Together they collaborate with industry on research, education and training opportunities through university curricula, scholarships, internships and facilitating an environment for skilled research talent. It’s a mutually beneficial relationship that produces a deep pool of resilient, work ready graduates,

Melbourne is a hot spot for high quality research collaborations. We have one of the highest number of inner city research collaborations in the world, which has led to breakthroughs in research.

  • In 2015, Melbourne had 209 research partnerships, compared to Sydney with 64.
  • Melbourne secured 43 per cent of Australian research grants and 43 per cent of funding in 2016.

The epicentre of science collaborations in Melbourne is the Melbourne Biomedical Precinct in Parkville. This biomedical precinct allows institutions to draw on the strengths of their neighbours to tackle global challenges.

The Australian Regenerative Medicine Institute (ARMI)

The Australian Regenerative Medicine Institute (ARMI) is a US$115 million medical research centre based at the Clayton Campus of Monash University.

Boasting 14 research groups studying a variety of regenerative approaches, ARMI is one of the largest regenerative medicine and stem cell research hubs in the world. ARMI's research focuses on the bodies mechanisms during development and repair towards discovering new therapies that may be used to treat certain diseases, conditions and injuries.

ARMI staff work with model organisms with regenerative capabilities, like zebrafish and axolotls, and study the underlying mechanisms that give stem cells their unique abilities.

Monash Vision Group

Monash Vision Group is a Melbourne-based collaborative partnership between Monash University, Grey Innovation, MiniFAB and Alfred Health.

MVG's primary goal is to develop a clinically viable cortical vision prosthesis - known as the Gennaris bionic vision system or ‘Gennaris’.