Biotech incubator seeks members

A new biotechnology incubator facility due to open in Queensland by the end of this year is calling for companies seeking mentoring and support.

The AUD$1.25 million i.lab Bio-incubator aims to accommodate up to 10 early-stage biotechnology start-up companies at its Brisbane Technology Park facility at Eight Mile Plains and is due to open by the end of the year.

"We provide fantastic mentoring, support and commercialisation services for members," said i.lab Incubator CEO Anne-Marie Birkill. "The new facilities will include both laboratory space and office accommodation to suit the needs of a developing biotech company. Those who become early members will be able to tailor fitouts and access an equipment fund."

Birkill also hopes the i.lab Bio-incubator will encourage biotechs to move to Queensland.

"I would love biotech companies from interstate and overseas to show interest in the site," she said.

The new facility is an extension of the work being done at the i.lab Incubator at Toowong which was opened in September 2000 and has successfully assisted a number of biotech companies with commercialisation and mentoring.

The i.lab Bio-incubator is part of the Queensland government's 10 year strategic plan for the industry called Biotechnology - Setting New Horizons.

"This strategy includes a series of new initiatives designed to help the industry to employ more than 16,000 people and generate $4 billion in revenue by the year 2025," said Birkill.