Feature
Issue No. 10 - April/May 2003
Bio-Boom
South Australia is at the forefront of biotechnology endeavour, poised to take advantage of the burgeoning international bioscience sector and its lucrative business opportunities.
Our diverse range of companies and research institutions, developing new and innovative products and services, have much to offer potential investors.
Instrumental to the success of this long-term strategy-designed to stimulate bioscience business development, job growth and economic prosperity within the State-is Bio Innovation SA.
Established by the State Government in 2001, the organisation is responsible for helping biotechs through their formative stages and creating the policy, commercial and financial environment required for the State's industry and bioscience community to grow.
Bio Innovation SA's CEO, Dr Jurgen Michaelis, says SA's biotechnology activity had already gained enormous ground in the past year.
"The biotechnology industry is recognised worldwide as a major economic driver that has experienced significant and continued growth over the past 20 years," Jurgen says.
"South Australia is already harnessing significant benefit from this expansion, with the number of bioscience companies in South Australia growing by 14 in the last 18 months-the majority established in the past six months.
"This is incredible progress and way above Bio Innovation SA's strategic plan target of 50 bioscience companies and 2,500 jobs in 10 years. Our immediate goal now is to ensure local start-up bioscience companies have access to capital, are supported through adequate infrastructure and can benefit from a bioscience and business incubator."
Fully funded by the SA Government and part of the portfolio of Dr Jane Lomax-Smith's Ministry for Science and Information Technology, Bio Innovation SA brings together a team of 10 business leaders with expertise in business development, investor relations, intellectual property, infrastructure and mark...
