Australian Biotech Industry gets down to business

By
Tuesday, 06 March, 2001

A new three-year business plan released by the Australian Biotechnology Association (ABA) is setting the scene for Australia to become a major player in the international biotechnology arena.

Titled, "Growing Australian Biotechnology", the plan forms the basis for Australia's first Biotechnology Industry Representative Body and was released by the Association's Executive Director, Dr Tony Coulepis.

The biotechnology investment environment has grown dramatically over the past 18 months. Australia has a strong tradition of internationally-recognised research and development (R&D) strength in the life sciences, providing a solid foundation for a healthy biotechnology industry. "With rapid growth in commercial activity in biotechnology at the international level, there is an immediate need to nurture and grow Australia's emerging biotechnology industry to assist in adding value to Australian R&D," said ABA President Dr Peter Riddles.

The three-year ABA Business Plan focuses on major outcomes including:

Facilitating the expansion of the biotechnology industry by nurturing sustainable biotechnology enterprises and creating access to appropriate professionals

Increasing links between the biotechnology industry and key stakeholder groups

Increasing awareness of the Australian biotechnology industry with potential investors in the corporate and public sectors, the research community, governments and the Australian public

Stimulating competitive financial and regulatory environments for Australian biotechnology companies