- Government's MoU is a key plank towards Perth's new biomedical research precinct
- MoU links Cook Government and UWA to transform CSIRO's Floreat site
- The site to become industry hub for SMEs, academia and advanced manufacturers
- MoU supports key Government initiatives - the Health and Medical Life Sciences Industry Strategy, the Health and Medical Research Strategy and the Advanced Manufacturing prospectus
The Cook Government's vision to create a biomedical industry and research precinct in Perth has taken another major step forward with the announcement of a new hub to be established in Floreat.
The Government has signed a landmark MoU with CSIRO and the University of Western Australia to activate CSIRO's Floreat site as part of a new biomedical precinct.
The MoU paves the way for the transformation of the Floreat site to link industry, academia, training and research to foster future growth and sustainability.
Premier Roger Cook recently announced the need for a biomedical industry and research precinct for Perth, similar to other international facilities, such as the Texas Medical Centre or the Cambridge Biomedical Research Centre. The planned precinct will incorporate the UWA and QE11 sites in Nedlands.
The State Government has identified Health and Medical Life Sciences as a priority sector in its DiversifyWA strategy.
To support the outcomes of the Health and Medical Life Sciences Industry Strategy, the Government is investing $11.5 million into the sector to enhance the infrastructure and capabilities necessary to grow the industry in WA.
The MoU and the Floreat location is a key step in the Government's plan to create a biomedical innovation and industry precinct to facilitate stronger research facilities to grow WA's advanced biomedical manufacturing.
The Floreat site has the close proximity and potential to complement existing biomedical sciences facilities and research institutes located at the QEII campus.
Western Australia has a thriving medical research sector with the Government investing more than $173 million to support more than 600 projects and initiatives. An additional $250 million has been allocated over the next four years through the Government's groundbreaking Future Health Research and Innovation Fund.
The MoU builds on this success and creates a collaborative relationship between the State Government and UWA to initiate a new hub to unlock the potential and exciting opportunities that WA's biomedical industry still has to offer.
The MoU also aligns with the State's Advanced Manufacturing Prospectus that identifies medical manufacturing as a growing strength, and improved access to facilities will further accelerate this.
AusBiotech's Life Sciences Sector Snapshot identified that Western Australia's broader life sciences sector, which includes the health and medical life sciences industry, has experienced the fastest growth in Australia.
For more information on the WA Health and Medical Life Sciences Industry strategy, please visit: https://www.wa.gov.au/government/publications/health-and-medical-life-sciences-industry-strategy
As stated by Medical Research and Innovation and the Digital Economy Minister Stephen Dawson:
"Building our local health and life sciences industry is a key priority for the Cook Government to make Western Australia an international hub for medical research and health innovation.
"We have a vision of transforming the CSIRO's Floreat site into a biomedical industry hub, as part of wider Perth precinct that is geared up to unlock further opportunities for the growth of this exciting local industry.
"This sector has enormous potential to create more jobs, attract more investment and further support the diversification of WA's economy.
"Thank you to UWA and CSIRO for their collaboration and support to activate this historic site and give it a new lease of life, such as developing medical breakthroughs or manufacturing revolutionary medical equipment.
"This MoU is the first step towards the transformation of the Floreat site, and further positioning WA as a global hub for high-quality training and medical research that will attract talented researchers to our State."
