The NSW budget, announced last week, delivered the largest investment in scientific research, innovation and technological development in state history: a boost of $832.7 million over four years.
Total investment was $1.1 billion and $270 million also announced to boost biomedical research, on top of $119.1 million over 10 years for RNA research and development initiatives, as well as the $95.8 million announced last year RNA Pilot Manufacturing Facility.
NSW Science, Innovation and Technology Minister Alister Henskens said the public investment is aimed at boosting the innovation ecosystem in NSW, creating jobs and new industries in line with the recently released NSW 20 Year R&D Roadmap.
The budget included $703.4 million to establish the Future Economy Fund, which will expand and accelerate R&D and commercialization opportunities statewide, building on the work of the NSW government’s R&D Action Plan.
The $270 million is for two new facilities – the Sydney Biomedical Accelerator Complex in Camperdown and the Viral Vector production facility in Westmead – to help develop treatments for rare, life-limiting diseases as part of the NSW government’s commitment to leading global health and areas of research.
Startup Daily TV spoke with Minister Henskens to discuss the government’s plans, including tackling the “valley of death” for capital for startup startups, looking two decades ahead in deep tech, the potential for quantum computing and the new announcement this week , plans for the Semiconductor Sector Service Bureau (S3B) to ramp up the state’s semiconductor capability in conjunction with the CSIRO.
You can view our in-depth interview with the technical minister by clicking the link below.
You can watch the Startup Daily show from Monday to Thursday from 2-4:40 PM ausbiz.com.aufor the latest technology and startup news.
If you can’t make it, you can always catch up on request what our guests had to say via the Australia Place. It’s free once you sign up.