This is what we found on Wikipedia regarding the Melbourne International Comedy Festival:

The Melbourne International Comedy Festival (MICF) is the largest stand-alone comedy festival and the largest international comedy festival in the world. First held in 1987, it takes place annually in Melbourne over four weeks, typically starting in March and running through to April. The Melbourne Town Hall has served as the festival hub, but performances are held in many venues throughout the city.

MICF also produces three flagship development programs: Raw Comedy, Australia's biggest open mic competition; Class Clowns, a national comedy competition for high school students; and Deadly Funny, an Indigenous comedy competition that celebrates the unique humour of Indigenous Australians. Awards are given for the best acts of the development programs as well as other categories of performances. The festival also undertakes an annual national roadshow, showcasing festival highlights in regional towns across Australia.