Innovation Victoria

Innovation Victoria is Victoria’s new integrated innovation entity, bringing together the full capabilities of Breakthrough Victoria (BV) and LaunchVic (LV) into one connected organisation.

It combines:

• LaunchVic’s startup ecosystem and founder-support programs, and
• Breakthrough Victoria’s patient capital, research translation and scale-up investment.

Victoria’s innovation ecosystem has matured.

The decision to bring BV and LV together reflects a natural evolution - from strong, complementary institutions to a more connected, end‑to‑end system. Innovation Victoria builds on what already works, while improving clarity, coordination and long‑term impact.

This is about strengthening the system - not resetting it.

Innovation Victoria will begin operation from early in early July.

For founders, the most important message is continuity.

• All existing programs continue
• Existing investments and agreements remain in place
• Your current points of contact do not change

Over time, you should expect a more connected experience across programs, capital and support - but no disruption as the transition progresses.

Yes.

All programs currently delivered by Breakthrough Victoria and LaunchVic will continue under Innovation Victoria. This includes:

• LaunchVic’s ecosystem and founder programs, and

• Breakthrough Victoria’s investment, follow-on capital and commercialisation activity.

There is no pause or cancellation of active programs as a result of this change.

No.

Existing agreements, funding arrangements and obligations remain exactly as they are. Innovation Victoria assumes responsibility for these programs, but the terms do not change as part of the transition.

Current grants allocated under LaunchVic will continue as planned. Future grant rounds will be determined by Innovation Victoria as part of its future strategy.

No action is required.

If you are currently:

• part of a LaunchVic program, or
• a Breakthrough Victoria portfolio company or partner,

you can continue as normal. If anything changes that requires action, Innovation Victoria will communicate directly and clearly.

Innovation Victoria will be led by Rod Bristow, appointed Chief Executive Officer.

Rod has led Breakthrough Victoria since its establishment and brings deep experience across innovation, investment and public‑purpose organisations. His appointment ensures continuity while the new organisation comes together.

The establishment of Innovation Victoria marks a natural leadership transition point.

Both the Hon. John Brumby AO (Breakthrough Victoria) and Leigh Jasper (LaunchVic) have played defining roles in building Victoria’s innovation foundations. As those foundations come together under a new entity, leadership passes from establishment to next phase. Recruitment for a new chair and board is underway.

Innovation Victoria is a new, integrated organisation, not simply a rebrand.

It brings together the mandates, programs and capabilities of BV and LV into one entity - designed to operate as Victoria’s single innovation system operator.

Updates will be shared through:

• existing BV and LV communications channels,
• direct updates to founders, partners and portfolio companies, and
• Innovation Victoria’s website as it comes online.

The focus is on clear, practical communication, particularly where something affects founders or partners directly.

• Programs continue
• People continue
• Commitments continue
• Support continues

Innovation Victoria is about connecting the system more effectively, while preserving the long-term, patient approach that founders and partners rely on.