Page 2171 - Week 07 - Tuesday, 15 August 2006
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international pharmaceutical companies. Some $110 million a year is spent on public sector biotech research in the ACT. In 2005, 13 per cent of all US biotech patents granted in Australia were in the ACT. We recently participated in BIO 2006, known as Chicago UCS BIO, the world’s premier biotechnology event. This event was an opportunity to showcase ACT firms to new markets and for them to build relationships and partnerships with like-minded organisations.
The ACT has significant capabilities in space science, defence technology, public administration, environmental science and industry and sports science and management. As an example, the ANU has signed a memorandum of understanding to join an elite international group of research institutions planning to build the world’s most powerful telescope. The group includes Harvard University, the Smithsonian observatory and the University of Arizona.
Canberra is an emerging international centre of innovation. Yet, while great strides have been made in recent years, the ACT government believes the region has not fully realised the commercial potential that exists. In response, the government announced in its recent 2006-07 budget that it would undertake a comprehensive study of ACT innovation systems. This review will look at all elements of the system and how they interact: enterprises, institutions, talent pools, regulative and support environments and how the ACT can better capitalise on these assets in new ways led by the business community.
The ACT is actively engaged in the commonwealth’s national collaborative research infrastructure strategy exercise. It will provide funding in excess of $500 million over the next five years to enhance and develop R&D infrastructure of national importance. The ACT government has provided funding of $10 million towards a $30 million early phase commercialisation fund in conjunction with the ANU and the Motor Traders Association of Australia—the ANU-MTAA Super Venture Partnership.
Focus on Business 2006, a biannual showcase of Canberra businesses to the rest of Australia and to the world, is the ACT’s government major business event. Focus on Business 2006 will be held from 13 to 15 September 2006 and will have a strong emphasis on innovation and exposing the ACT economy to the international stage. International delegations attending this year’s event include the Hong Kong Commissioner for Innovation and Trade, Anthony Wong, who will be a keynote speaker, and the Minister for Trade and Commerce for the Republic of Ireland, Michael Ahern. Five Irish companies that are looking for business matching opportunities will accompany Minister Ahern. Mr Dan Ostergaard, the former Executive Director of the US Homeland Security Advisory Council, and Ms April Dubois, the International Development Manager for the Greater Washington Initiative, will also attend. All of these people will participate as guest speakers. There will be, of course, many more participants who will take home the great news that business in Canberra is strong and Canberra is a good place to do business in.
The 2006-07 budget outlines some new business assisted program. These programs include a new $1 million program that will provide a range of information and mentoring services to business within the ACT. This new service, to be operational in early January 2007, will provide more services to a broader range of businesses than previous assistance programs because it will focus on skill development.
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