Marsha Thomson, Victorian Minister for Information and Communication Technology, launched the laboratory and announced additional funding of A$20 million (US$15 million) to support future research in information and communications technology.
NICTA, the Victorian government and the University of Melbourne have funded nearly $117 million since the Victorian laboratory was established in 2004.
According to NICTA, this funding will enable the laboratory to employ more than 160 researchers by 2009.
Thomson said as a result of the funding the center will be able to expand research into life sciences, such as the development of a bionic eye.
Minister for Communications, Information Technology and the Arts, Senator Helen Coonan said the funding has been extended over five years to ensure the laboratory becomes an enduring, world-scale, leading edge strategic ICT research institution.