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Good practice Imported

Melbourne Connect

Australia · Melbourne · See the Australia profile · See the Melbourne profile

Evidence: Descriptive / self-reported Top 54% 67/100 · Ask Evidence Copilot about this practice

Australia's largest university-anchored innovation precinct, opened 2021 by the University of Melbourne and Lendlease. 3,000+ knowledge workers on campus; 240+ resident startups have raised A$250M+, generated A$250M+ in revenue, and created 1,500+ jobs.

240+
Startups supported
A$250M+
Funding raised by supported startups
1,500+
Jobs created
Melbourne Connect

Details

Maturity
Scaling
Promoter
University of Melbourne / Lendlease
Period
2021–present
Keywords
Research commercialisation, biomedical, digital technology, deep tech

Context

Melbourne Connect opened April 2021 as a purpose-built, 100,000 m2 innovation precinct in Carlton, developed through a partnership between the University of Melbourne and a Lendlease-led consortium under a 40-year agreement, at an overall investment of approximately A$1 billion.

Results

Measured outcomes reported by Invest Victoria/University of Melbourne (2024): 3,000+ knowledge workers co-located, and since opening, 240+ startups supported through precinct programmes have raised over A$250 million in funding, generated over A$250 million in revenue, and created over 1,500 jobs.

Implementation
Indicative cost
Very high (> €5M)
Time to results
Long (> 3 years)
Staffing & skills
University of Melbourne precinct management, Lendlease estate management (40-year PPP), Melbourne Entrepreneurial Centre staff

Conditions for success

  • Long-term public-private partnership for estate certainty
  • Co-location of researchers, corporates, startups and government under one roof
  • Anchor facilities spanning maker space, public science gallery and entrepreneurial centre

Commonly funded by

Own resources / municipal budget

Indicative funding routes for practices of this type — always check each programme's current calls and eligibility rules.

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Data sources

Where this practice's information was retrieved from, and when.

Attachments

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