By Rod Bristow, CEO of Breakthrough Victoria
Today marks one year since I joined Breakthrough Victoria! Hard to believe how fast that time feels like it has gone.
At milestones such as this I like to look back at what was done well, perhaps not so well, and what I may have done differently with hindsight. This reflection is a great way to build on the learnings and experience of the last period of time in order to prepare well for the next ‘sprint’.
Looking Back: A Year of Impact and Momentum
Reflecting on the last 12 months, the numbers tell the story of what BV has achieved. We have supported:
- 70 investments;
- 7 universities in our University Innovation Platform;
- 6 Funds bringing capital and unique expertise to the Victorian innovation ecosystem;
- 3 Fellowships, and;
- 1 grant to the Jumar Bioincubator in partnership with CSL, WEHI and the University of Melbourne, alongside operator Cicada Innovations.
Right across our portfolio we’ve seen breakthroughs in quantum technology, life sciences, advanced manufacturing, clean energy and AgTech. The nearly half a billion dollars we have committed to investing in and supporting Victoria’s innovation ecosystem has crowded in over $1.4bn in private capital from an average of 7.7 co-investors per investment.
These sound results are something to be proud of, and a credit to all of the people who have been involved with BV since inception in 2021.
It’s been enjoyable playing my part leading the organisation as we expand our impact across Victoria.
Looking Forward: The Path Ahead
During this last 12 months, there has been much internal and external change for BV.
My reflection in this context centred on how we can successfully draw on the change we’ve already experienced to be better prepared for, and receptive to, the change still to come.
Thinking about 2026 and the new consolidated entity that will shape Victoria’s innovation agenda, I found myself returning to one question: what does this next phase unlock for Victoria as it takes shape?
We know we’re aiming high, seeking to deliver an organisation that sustains and grows a lasting and vibrant innovation ecosystem that delivers substantial future economic growth, environmental and social benefit for all Victorians.
Getting this right means Victoria can position itself at the global forefront of a technology-led economic transformation.
- We will be home to an innovation ecosystem where Founders choose to start and scale their business because of our university capability, depth and breadth of IP, world-class programs and accelerators, exceptional talent, and the blend of local and global capital that underpins success.
- We will be seen as a global ecosystem connector and investment leader adept at originating, evaluating, investing in and supporting innovative companies to successfully start, scale and exit through global connectivity and value creation activity delivering access to Capital, Connections and Customers.
- We will stimulate significant skilled jobs growth while delivering on our mandate to make material positive social benefit and environmental impact from the investments and ecosystem activity we undertake.
The year ahead will be one of renewal, clarity and opportunity. We are resetting the foundations for more breakthrough companies, more commercialised research, more jobs of the future, and more reasons for Founders to choose Victoria as home. This will shape a stronger, more innovative and more globally competitive Victoria.
Alongside the remarkable milestones BV has already achieved, and will continue to deliver, I’m genuinely excited to be part of the incredible opportunities ahead.