Janssen's Chris Hourigan says he is encouraged by Malcolm Turnbull's early focus on innovation since becoming Prime Minister.
Mr Hourigan, the Managing Director of Janssen Australia and New Zealand, was speaking to BiotechDispatch in advance of Johnson & Johnson Innovation announcing a new R&D focussed collaboration with the Queensland Government.
He is also "encouraged" by the appointment of Christopher Pyne as Minister for Industry, Innovation and Science, and hopeful he will be pro-active engaging his ministerial colleagues on the future of "Australia's innovation eco-system".
Mr Hourigan has emerged as a passionate public advocate for the life sciences sector and its role promoting local innovation.
As the child of a scientist, he says he learnt the value and importance of innovation at an early age as his father pursued an academic career in Australia and overseas.
He says the Prime Minister's comments on Australia's poor performance in translating the product of research into commercial returns reflected his own father's frustrations.
"The Prime Minister appears to appreciate Australia's potential, which has to be encouraging for industry. We could do much more as a country if we harness the knowledge economy and we have to hope that we have a political leader who can see that potential."
Johnson & Johnson Innovation will today announce a collaboration with the Queensland State Government on the 'Advance Queensland - Johnson & Johnson Innovation Quick Fire Challenge'.
The challenge is part of the Queensland Government’s $180 million Advance Queensland initiative to support greater innovation, develop a knowledge-based economy and provide jobs now and in the future.
According to Mr Hourigan, this latest collaboration builds on the company's existing partnerships and investments across Australia. He praises State Governments for their commitment to innovation and enthusiasm for working with biopharmaceutical companies, contrasting that with the Federal Government's focus on industry as simply a source of spending and savings.
The new Quick Fire Challenge will award a top prize of $100,000 to three winners across the pharmaceutical, medical device and consumer health sectors.
Johnson & Johnson Innovation Asia Pacific and other company executives will serve on the selection committee, work with companies on their pitches prior to the main competition, and serve as mentors to selected companies. The competition is open to any innovative, transformational human healthcare invention that seeks to address an unmet medical need.
A key component of the challenge is that all applicants must be willing to do the R&D of the innovation in Queensland.