As part of the Queensland Government's commitment to diversify and strengthen our state's economy and create high-value, knowledge-based jobs, the Queensland Biomedical 10-Year Roadmap and Action Plan ( 1.2 MB) sets out a $4 million program to support and attract biomedical enterprises.
Queensland's biomedical industry contributes $1.44 billion to the state economy and employs more than 9000 people, with the potential to grow by almost 40% and deliver up to 3000 new jobs by 2027.
However, the industry face challenges, such as accessing crucial investment, expertise and collaborative opportunities. The roadmap responds to the industry's request for assistance accessing the capital, skills and resources it needs to commercialise new products and compete in global markets.
- The Biomedical Assistance Fund is a $2 million program that will open doors for Queensland biomedical enterprises to access the tens of billions of dollars available in government grants and private investment by supporting with preparation of investment documentation, advising on capital raising, and other assistance.
- The Queensland Biomedical launchpad will take a group of biomedical enterprises through an intensive program of mentoring on developing, validating and implementing their ideas.
- The biomedical voucher program is providing national and international biomedical companies access to Queensland's biomedical infrastructure and capabilities.
- A program of business-to-business collaboration and information sharing initiatives will help connect biomedical enterprises with the skills and knowledge they need to grow.
The Queensland Biomedical 10-Year Roadmap and Action Plan is part of the Queensland Government's $420 million Advance Queensland initiative to create knowledge-based jobs of the future for Queenslanders.