Over $200 million in funding contributed by the Albanese and Crisafulli Governments and industry partners will help South East Queensland become a leading innovator in health and biotech, through the South East Queensland Innovation Economy Fund.
The Fund has awarded eight successful projects $94 million in joint Government funding, with industry leaders across critical sectors co-contributing over $122 million. This partnership between governments and industry will unlock $217 million worth of investments across South East Queensland.
Successful projects include:
- A $25 million grant to establish the Health and Advanced Technology Research and Innovation Centre (HATRIC) at the Gold Coast will build on the region's leadership in biomedicine, biotechnology and additive manufacturing.
- Bringing together Griffith University, neighbouring hospitals and medical institutes, the project will leverage another $75 million from partners to expand the cutting-edge Gold Coast Health and Knowledge Precinct. It already employs more than 14,000 people, and is home to innovation such as the world's first artificial rotary heart.
- An Australian-first biomedical scale-up and manufacturing facility will be established at the Bogo Road Innovation Precinct, thanks to $3 million in funding. The new Hub will support start-ups to develop innovative medical products, manufacture them on site and undertake clinical trials, positioning Brisbane to become leaders in bio-manufacturing.
- A $25 million grant awarded to the AATLIS Innovation Precinct Industry Biotechnology Centre (IBC) to bring together start-ups and industry leaders to establish Australia's first vertically-integrated biotechnological facility to support the rapid design, building and testing of new solutions for the agriculture sector.
- The University of Sunshine Coast Innovation Centre will be upgraded with five new specialist innovation labs to boost jobs and accelerate the local economy, thanks to a nearly $3 million investment. It includes a new Digital Health Productivity Lab, which will harness technology to advance innovation in the aged care sector and improve patient experience.
Quotes attributable to Federal Minister for Cities Jenny McAllister:
"The Albanese Government is building Australia's future by backing Queensland innovation.
"By bringing together the expertise of universities, research institutes and industry, we can boost innovation, and create local jobs.
"It's terrific to see investment in biotech that will not just improve health outcomes but also provide opportunities to build our economic future by leveraging world class research.
Quotes attributable to Queensland Minister for Science and Innovation Andrew Powell:
"Queensland Government is dedicated to investing in a thriving innovation ecosystem in South East Queensland.
"Strategic investment in world-class innovation precincts will drive the creation of high value knowledge-intensive jobs that will propel South East Queensland into a new era of prosperity.
"These precincts are the incubators for solutions to the region's most pressing social and economic challenges."
