In just three years, Breakthrough Victoria has invested in 24 companies with commitments totalling well over $300 million, with many more important investments on track to close by EOFY.
In last week’s State Budget, the Treasurer Tim Pallas reconfirmed the government’s confidence in the important work Breakthrough Victoria is doing in commercialising world-leading technologies, and supporting the growth of the state’s innovation ecosystem.
Breakthrough Victoria is a proud investor in World View - a global stratospheric sensing company with patented stratospheric balloon technology providing on-demand, high-resolution sensing, weather monitoring and communication services.
We’re pleased to be investing alongside many other global investment firms including Canaan Partners and Accel.
World View’s world leading platform technology enables asset monitoring, climate change research, supply chain tracking, non-invasive energy exploration, agriculture monitoring, pipeline inspection, wildfire and storm tracking, maritime awareness, communications, methane detection, payload hosting and testing.
Our investment in World View will see the company build an advanced manufacturing facility, which will ultimately employ up to 200 Victorians in diverse roles across engineering, data science, material science, and non-degreed skilled labour.
World View’s Indo-Pacific headquarters located right here in Victoria, will also be the joint mission control facility for stratospheric balloon operations launched from Australia.
In addition to their manufacturing facility and Indo-Pacific headquarters, a stratospheric research hub will also be established in Victoria, with World View investing US$5 million in research and development per year across Australian universities and research and design centres, advancing this emerging industry across the region.
World View currently has two local full-time employees on the ground in Melbourne, including their Head of People who is creating their near-term hiring plans.
World View’s technology and applications are particularly relevant to Australian and Victorian needs - they have the potential to drive significant productivity gains in the resources, infrastructure and agricultural sectors; better measure and monitor climate change and its impacts; and help saves lives via bushfire and storm tracking. We are proud to be backing a leading company advancing the stratospheric industry in Victoria that has the potential to improve people’s lives and benefit the Victorian and Australian economies.