Smart Industry Policy: Biotechnology

Fast stats

From a standing start in 1998, Queensland's biotechnology industry has emerged
as a dynamic new sector in the State's economy with:

• Currently around 90 core biotechnology companies employing 1,900 biotechnologists
• 66 biotechnology-related research institutes employing 5,700 researchers
• Revenues of $395 million for companies and $501 million for research institutes in 2006/07
• 23 drugs in clinical trials.

Queensland - a biotechnology hub

Queensland is placed to become a global player in the international biotechnology market due to its strong research base, tropical location, world-class infrastructure and unique combination of being a developed economy with natural mega-biodiversity. In particular, Queensland's biotechnology industry has competitive strengths in biomedical research, human therapeutics and human diagnostics, drug and vaccine development, clinical trials, tropical crop biotechnology and animal health diagnostics.

World-class infrastructure

The Queensland Government recognises that successful biotechnology industries build on the work of world-class R&D institutes. The State's leading institutes include the Queensland Institute of Medical Research, the Institute for Molecular Bioscience, the Australian Institute for Bioengineering and Nanotechnology, the Australian Institute of Marine Science, the Queensland Brain Institute, the Mater Medical Research Institute, the Institute of Health and Biomedical Innovation, the Eskitis Institute for Cell and Molecular Therapies, the Wesley Research Institute and CSIRO.

Natural mega-biodiversity

Australia is one of only 17 mega-diverse countries in the world. Queensland is the most naturally diverse state in Australia and has five World Heritage-listed areas including Fraser Island, the Great Barrier Reef and the Wet Tropics rainforests, 70 per cent of Australia's mammals, 80 per cent of its native birds and more than 50 per cent of its native reptiles, frogs and plant species. Quite simply, the State's native flora and fauna could hold the key to some of the most important biotechnology discoveries of the future.

Track record

Queensland's biotechnology industry has already produced ground-breaking results:

• Panbio Ltd, recently acquired by Inverness Medical Innovations, developed the world's first commercial diagnostic assays for Ross River Fever, Dengue Fever and West Nile virus and is now a global exporter of innovative diagnostics for over 30 infectious diseases.
• Catapult Genetics Pty Ltd launched the world's first DNA tests for tender beef.

For further information

Download a copy of the Biotechnology Sector Action Plan

Download a copy of the Smart Industry Policy and Decision Making Framework

For more information about the Smart Industry Policy and associated industry sector action plans please contact Strategic Policy. Phone: 07 3227 7657.