The NSW government has launched its Accelerating R&D in NSW Action Plan, with key themes aligning to the industry needs highlighted in an AusBiotech NSW roundtable last year.
The Action Plan, developed with the Hon. Gabrielle Upton MP, Parliamentary Secretary to the Premier, who has been tasked with accelerating R&D investment in NSW, recommends five Priority Actions and 16 Supporting Actions that seek to accelerate the rate at which ideas are translated into new industries, jobs, products and services. The recommendations in the Action Plan aim to make NSW an Australian R&D leader and a world-class contributor.
During the development of the Action Plan, AusBiotech hosted Ms Upton at a policy roundtable to discuss opportunities in NSW with almost 20 Member companies. AusBiotech also outlined opportunities through a submission in the formal consultation process.
Implemented advice includes: strengthening facilitation, collaboration and communication platforms through connecting innovators on an online matchmaking platform; demonstrating commitment to translation and commercialisation with appropriate funding initiatives; and encouraging a greater culture of collaboration between industry and academia.
The five recommended Priority Actions in the Action Plan are:
- Launch a Small Business Innovation Research (SBIR) programme – provide competitive grants for small and medium-sized enterprises (SMEs) to find and commercialise innovative solutions to well-defined problems for NSW Government agencies.
- Boost open data – release new government datasets so businesses can make better decisions, entrepreneurs can build new businesses and the government can solve complex challenges.
- Turbocharge precincts – develop precincts to attract national and global technology industries and investment, and drive collaboration between universities, research organisations, start-ups, scale-ups and SMEs, to commercialise R&D.
- Target strategic support for NSW universities – collaborate on research that drives future NSW strategic growth industries and research-led industry attraction, and better leverage Commonwealth Government research funding.
- Establish an R&D matchmaking platform – better connect research ‘sellers’ and ‘buyers’ and link researchers to research infrastructure and expertise.
NSW continues its ongoing commitment to the biotechnology industry, as it drives economic growth and leads to improved patient wellbeing. AusBiotech has a strong relationship with the State Government and looks forward to supporting and promoting initiatives and actions to bolster the industry.
Read the Action Plan here.