Australia: Foresight to translate research into treatments, devices and diagnostics

Amid the growing realization that Australian research needs support to make it a reality, the Queensland (QLD) Premier has pledged a “centerpiece” A$90 million ($71.5 million) Research to Reality Fund if the LNP is returned in this weekend’s election.

Also under its Strong Choices plan, the QLD government announced the A$500 million Entrepreneurial and Innovation Fund to provide long term-funding for innovation and start-up sector. The Fund is to be an endowment fund, and as such would join the Federal Government’s Medical Research Future Fund (MRFF) as long-sighted, nation-building asset for Australia’s future.

Anna Lavelle, chief executive of trade group AusBiotech, said: “AusBiotech welcomes these outstanding and significant examples to support the growing emphasis on translating our world-class research into practical outcomes that improve economic productivity, create jobs and improve and extend the lives and wellbeing of Australians.”