Australia’s Biotechnology Gateway

Posted in: Australia FP Started by Benj

The state capital of Victoria, Melbourne, received the Most Admired Knowledge City Award (MAKCi) in 2010 in recognition of its knowledge based development.

Innovation industries are at the forefront of Melbourne’s knowledge based economy and the acceleration of activity in its biotechnology sector is leading to international recognition.
As an increasing number of products and technologies gain international market entry and uptake, Melbourne is gaining a reputation as one of the world’s great science cities.

Michelle Gallaher heads the peak industry forum for the leaders of the Victorian biotechnology industry; BioMelbourne Network;

‘Biotechnology is a maturing sector in Melbourne with companies reaching specific value points through sustainable investments,’ says Gallaher. ‘Melbourne’s biotechnology sector is the largest in Australia and we can offer significant opportunities. With US companies already investing here and forging partnerships, Melbourne is recognised as a discovery engine with leading institutions undertaking quality research’.

Drug development, food technology, nutraceuticals, plant genomics, decay fighting chewing gum and skin care products are just some examples of biotechnology at work. Information and communication technology is also changing the face of biology with data storage, phone diagnostics and e-health becoming a reality and creating huge economic opportunities.

Gallaher; ‘The biotechnology sector in Victoria is estimated to be worth AUD$28 billion dollars with exports and licensing valued at AUD$810 million. Agricultural biotechnology and research
is particularly advanced in Victoria and is leading to pasture grasses for cattle and algae for next generation biofuels’.

Melbourne’s biotechnology sector will continue playing an increasingly important role within the city’s knowledge based economy. In the future, the task of addressing the global food crisis and developments in alternative fuel sources and disease identification may well originate in Melbourne.