Victoria leads in biotechnology and business R & D

Monday, 23 July, 2001

Victoria has been confirmed as the biotechnology, and research and development capital of Australia.

The Minister for State and Regional Development, John Brumby, has welcomed figures from the Australian Biotechnology Report 2001 showing Victoria is ahead of Queensland and NSW as Australia's leading biotech hub.

"Victoria has 72 core biotechnology companies, representing 38% of the national total. NSW is next with 30%, followed by Queensland with....11%," Mr Brumby said.

The report's findings came on top of Australian Bureau of Statistics data showing Victoria was the leading state for business R&D in 1999/2000. The latest ABS figures show that $1.474 billion was spent on business R&D in Victoria or 36% of national expenditure. NSW spent $1.414 billion and Queensland $438 million.

Victoria led manufacturing R&D, particularly in the automotive and chemical sectors, and also in wholesale and retail.

Item provided courtesy of Science Industry

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