Australian coalition government announces A$55 million commitment to biotechnology

Australia’s Minister for Technology, Gordon Rich-Phillips this week released a new A$55 million ($56.8 million) plan to support Victorian biotechnology through the next stage of growth. The release of the plan coincides with the start of the AusBiotech conference in Adelaide this week, the industry’s premier biotechnology conference for the Asia Pacific region.

Minister Rich-Phillips said the plan was part of the Victorian Coalition Government’s suite of technology strategies under Victoria’s Technology Plan for the Future, which reflects the Coalition’s new approach to supporting technology and its commitment to driving productivity growth.

“The statement sets forth the Coalition Government’s direction for Victorian biotechnology and the key role of biotechnology in contributing to a competitive, productive and growing Victorian economy,” said Mr Rich-Phillips, adding: “For the first time, the government will establish a number of dedicated programs that will directly support the biotechnology sector and encourage the uptake of biotechnology.”