Victoria's Life Sciences Strategy

Topics on this page include:

• What is our strategy for success?
• What action are we taking to lead the way in life sciences?
• How well are we performing in life sciences?
• What are our next steps?

What is our strategy for success?

The Victorian Government’s long term goal is to create a life sciences industry that is a world leader in translating scientific research into practical benefits that will improve the health and lives of Victorians and the global community.

Our strategy is to:

• build on our strengths in medical research and life sciences
• maintain a critical mass of research infrastructure in these areas of strength to attract the best people from Australia and overseas
• boost our capacity to translate research into practical outcomes that will benefit all Australians
• establish stronger links and connections between our researchers and support approaches that bring together clusters of skilled people to work together on common problems
• create opportunities for national and international collaboration on major research projects
• develop an environment that is attractive to businesses wishing to invest in the products of our life sciences research

What action are we taking to lead the way in life sciences?

The Victorian Government has invested a record $1.6 billion in science infrastructure since 1999.

This investment includes:

• the $620 million Science, Technology and Innovation (STI) Initiative. The program supports exciting science, technology and innovation projects across the State, many of which are in life science areas, such as the Australian Synchrotron
• more than $618 million in Information and Communication Technologies (ICT) and innovation-focused projects over the past six State Budgets
• heavy investment in improving STI infrastructure and research in provincial Victoria
• close to $6 million towards the establishment of the National Biosecurity Centre

The Victorian Government has also taken a number of actions to ensure that the State's research institutes have access to highly skilled and appropriately educated researchers and technology workers. Programs such as the Undergraduate Research Opportunities Program and the Victorian Biotechnology Entrepreneur Program are helping to attract talented students into the life sciences, provide them with leading edge research opportunities and develop their commercialisation, management and marketing skills.

How well are we performing in life sciences?

Victoria is now Australia’s leading performer in life sciences and the leading biotechnology location in our region, with an international reputation for excellence in biomedical research.

Victoria’s 17 medical research institutes are known around the world for the high standard of their research:

• Success in attracting income and funding
  The quality of Victoria’s medical research institutes is reflected in their success in attracting grant income and investment of $1.3 billion from 1999 to 2004. Victoria consistently leads the nation in securing NHMRC grants, receiving at least 40% of total grants.
• Growing international recognition
  In 2005, amid tough global competition, Victoria confirmed its leadership as Australia’s pre-eminent biotechnology location, with Melbourne scientists receiving prestigious American research awards. Only 42 scientists from 20 countries received awards, with Australia receiving more awards than any other country and all Australian awards going to Melbourne-based scientists.

Victoria is also home to 130 life sciences companies and continues to be the preferred location for biotechnology investment in Australia:

• Increased investment in research and development (R&D)
  Victoria’s life sciences sector continues to grow strongly. In 2004-05, an estimated $418 million was spent by Victorian companies on biotechnology R&D, up from $323 million in 2003-04 and $289 million in 2002-03.
• Success in the commercialisation of research
  Victoria is also experiencing growing success in the commercialisation of life sciences research. In 2004, Victorian life science companies generated sales of $4.6 billion - a 140 per cent increase over 2003.

What are our next steps?

Victoria’s life sciences sector must now adopt a more integrated approach to grow, remain competitive and translate research into practical benefits.

Through the Science for Life statement, the Victorian Government is taking the next steps to build on our excellence in medical research, with a focus on:

• boosting our ability to attract world leaders in medical research and retain our best and brightest people
• getting faster practical results from medical research by supporting research excellence and minimising red-tape
• driving stronger connections and collaborations by becoming a leader in
  eResearch