Media Release – Industry calls for Medical Technologies and Pharmaceuticals Innovation Hub

Media Release – Monday 20th November 2017

At its Annual General Meeting today, BioMelbourne Network will launch a pre-budget submission calling for the Victorian Government to invest in a Medical Technologies and Pharmaceuticals Innovation Hub in Melbourne.

The Hub would provide a central physical anchor point for Melbourne’s health innovation ecosystem. It would provide commercial office space for start-ups and high growth potential SMEs, as well as a “landing pad” for international businesses looking to engage with the sector.  It would facilitate engagement with a dedicated cohort of advisors with knowledge and networks across the gamut of pharmaceutical and medical technologies, to facilitate connections between technology developers and the appropriate service providers or experts in the field.

“Victoria’s medical technologies and pharmaceuticals sector is vibrant and growing and contributing significantly to the State’s economic development.  The sector needs a place to accelerate its growth – a Medical Technologies and Pharmaceuticals Innovation Hub as place is important for innovation. It’s more than an address, the innovation hub would be a space for engagement, events, meetings, co-working and knowledge sharing”, said BioMelbourne Network CEO Dr Krystal Evans.

The pre-budget submission also includes recommendations to:

1. Create jobs by implementing a payroll tax deferral system for the sector
2. Develop metrics to map the sector’s success and identify gaps
3. Undertake a scoping study for a Victorian biotech innovation manufacturing facility

Quote attributable to Dr Krystal Evans, CEO, BioMelbourne Network:

“BioMelbourne’s members contribute significantly to economic development in Victoria and by implementing the recommendations in BioMelbourne Network’s pre-budget submission, the State Government of Victoria can substantially increase the sector’s contribution with only a small investment.”

ENDS

For a copy of the submission click here

About BioMelbourne

BioMelbourne Network is a not-for-profit membership association for organisations engaged in biotechnology, medical technology, pharmaceuticals and health innovation in the State of Victoria.

Playing a critical role in connecting clinicians, researchers, finance and industry, BioMelbourne Network supports and promotes the growth of the sector’s infrastructure and facilitates the development and commercialisation of new drugs, devices, diagnostics and digital health technologies here in Melbourne.

For the past 17 years, the Network has championed an environment that enables Melbourne’s biotechnology sector to innovate, succeed and influence the evolution of healthcare locally and globally.

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