The Victorian Minister for Small Business, Innovation and Trade, Adem Somyurek, has announced that the Government will provide funding for the state's biotechnology sector to attend this year's Bio International convention in Philadelphia.
Speaking at the AusMedtech 2015 conference in Melbourne, Mr Somyurek said the Victorian Government recognises the sector as a key component of its economic development strategy.
"Melbourne is one of the world's leading cities for medical technology across a range of fields," he said.
"Medical technology has been identified....as one of six growth sectors in the Victorian Government's 'Back to Work' plan, which has been designed to grow economic growth and create 100,000 new jobs," he said.
According to Mr Somyurek, companies that operate in the sector are critical to building skills and developing new strategic capabilities for the State, which contribute to the development of new business models, jobs and high value exports.
"Our jobs plan also includes the $500 million Premiers Jobs and Investment Panel, which will advise government on targeted public investment, and the $200 million Future Industries Fund, which will drive growth in the key priority sectors," he said.
"...Victoria is home to more than 1,000 medtech companies, which generate over $600 million in annual revenues....it has established an enviable reputation in health and medical research over the past 15 years, which underpins the medtech sector," Mr Somyurek said.
The Minister announced that the Andrews' Government will provide travel grants for representatives of Victorian-based biotechnology companies to attend Bio in June.
The Victorian Government strongly believes that the State's biotechnology sector is well-positioned to capitalise further on emerging opportunities in global medical technology, he said.
