Australia’s innovation ecosystem has entered a new phase of industrial maturation, according to recent data.

The “Tech Scaleup Australia 2025” report identifies 1,582 domestic companies classed as scale-ups — translating to nearly six scale-ups per 100,000 inhabitants — that have together raised more than US$36 billion in capital, or roughly two per cent of Australia’s gross domestic product.

This places Australia in league with other advanced Asia-Pacific innovation hubs: the country’s scale-up count rivals Singapore’s 1,660 and is only modestly behind Japan (2,268) and South Korea (2,127).

The number of high-valour scale-ups is also strong, with 71 Australian companies having secured funding above US$100 million each, a scale comparable to Japan (86) and South Korea (96).

A major contributor to this growth is the country’s growing strength in ‘infratech’ — technological innovation applied to construction, mining and energy-systems sectors.

In that vertical, Australian venture capital investment has surged from about US$100 million in 2020 to nearly US$500 million in 2025. Roughly one in ten Australian scale-ups (around 107 firms) operates in this area, spanning critical resources (21 per cent), construction (57 per cent) and energy systems (22 per cent).

Australia is also asserting global leadership in advanced mining-tech innovation.

The report shows Australia accounts for nearly three-quarters of all global venture investment in artificial-intelligence solutions for mining operations, far exceeding other nations such as China (12 per cent) and the United States (9 per cent).

This dominance rests on a unique structural combination: large-scale mining operations, supportive regulation and a mature vendor and talent ecosystem.

The investment landscape is extensive: 491 active venture-capital and corporate-venture-capital firms are managing an estimated US$32 billion in ‘dry powder’ ready for local scale-up deployment.

While many of these funds are smaller seed- and early-stage vehicles (73 per cent under US$50 million), the larger corporate-backed funds — from firms such as Rio Tinto, Macquarie Group, ANZ, National Australia Bank and Commonwealth Bank of Australia — are gaining prominence.

Australia’s strategy of sectoral specialisation rather than dispersion appears to have paid off.

The focus on specific verticals has attracted 26 large international corporations to set up innovation outposts locally, signalling growing global relevance.

At the same time, the report notes structural challenges: geographic isolation, concentration in a few metropolitan hubs and limited late-stage exit pathways.

Looking ahead, the message is clear: Australia’s innovation ecosystem is no longer just a startup story but a scaling story.

The real test now lies in converting innovation into globally competitive enterprises that command market leadership, export revenue and sovereign technological capability.