Technology
Frankston Startups Attract $9.6 Billion as New Business Registrations Surge
New enterprise registrations surge as local infrastructure and dedicated incubator funding fuel a regional business boom.
How we reported this
Frankston’s economic profile is undergoing a swift transformation, marked by the registration of 639 new businesses for GST over the past 12 months. This uptick in entrepreneurship coincides with the city’s rising Gross Regional Product, which reached $9.6 billion as of 2026. The surge is largely attributed to a combination of sustained investor confidence and the impact of major regional infrastructure projects, including the construction of the new hospital and upgrades to Frankston Stadium.
Building the Infrastructure for Growth
The city’s shift toward a hub for new ventures is underpinned by targeted financial support for early-stage companies. The Frankston Foundry, a key co-working space and incubator for the bayside and Mornington Peninsula region, recently secured $154,500 in LaunchVic Round 2 grants. These funds are designated to bolster the local startup pipeline, providing entrepreneurs with the technical and operational resources required to scale their operations.
Beyond traditional tech incubation, the city has leveraged the Frankston Social Enterprise Hub to provide free co-working facilities and professional networking opportunities. This initiative supports social entrepreneurs across the region, where the broader sector now employs approximately 60,000 people statewide. The strength of this ecosystem is anchored by a massive base of 44,000 small and medium enterprises that sustain the local economy.
From Local Startup to National Success
Specific programs run by the Frankston City Council have demonstrated a clear path for local ideas to reach broader markets. The mobile food van program, which debuted in 2023, has become a primary vehicle for regional expansion. A prominent success story from this initiative is the Carrum Downs-based startup Caravan Chai, which successfully scaled its operations from a local van to national distribution.
Entrepreneurs looking to engage with the growing local network can access resources through the Frankston Social Enterprise Hub or participate in upcoming industry spotlight events. As the city continues to integrate large-scale infrastructure with grassroots incubator support, the focus remains on sustaining the growth of the 44,000 small and medium enterprises that drive the regional economy. Stakeholders are encouraged to monitor future grant cycles and council-led initiatives to understand the ongoing trajectory of the local business environment.