16 December 2016
The state government has established a $6 million fund to help attract life sciences investment to Adelaide.
The fund will have $3 million for the rest of 2016-17 and another $3 million in 2017-18.
So far the agency has helped attract more than $45 million of investment to the state, securing more than 200 permanent, hi-tech, high-value jobs in Adelaide.
The fund will be administered by Health Industries South Australia, the state government agency helping life science companies invest in Adelaide.
The agency attracts companies in the following life sciences sectors: medical device manufacturing; pharmaceutical manufacturing; clinical research; nutraceuticals; and digital healthcare.
Quotes attributable to Minister for Health Industries Jack Snelling
The life sciences sector is an important part of the government’s work to transform the economy.
We are using our great infrastructure like Adelaide BioMed City and Tonsley Innovation District to deliver hi-tech, high value jobs.
The Health Industries Fund is a signal to businesses that we are serious about continuing to grow this sector.
Quotes attributable to Marco Baccanti, Chief Executive of Health Industries South Australia
Health Industries South Australia has attracted companies to Adelaide by understanding what businesses need and acting quickly.
This fund will help us move even faster, delivering even more investment into Adelaide’s life sciences sector.
Forty-three and a half per cent of R&D costs will be reimbursed in cash to eligible companies with an aggregated annual turnover of less than A$20 million. Read more