As part of the Queensland Government's commitment to diversify and strengthen our state's economy and create high-value, knowledge-based jobs, the Queensland Biomedical 10-Year Roadmap and Action Plan ( 1.2 MB) sets out a $4 million program to support and attract biomedical enterprises.
By 2027, Queensland will be a regionally integrated and globally competitive Asia-Pacific biomedical industry hub recognised for its excellence in biomedical innovation, highly skilled professional workforce, and world-leading translational biomedical research facilities.
The Queensland Biomedical 10-Year Roadmap and Action Plan is supporting and developing our state's growing biomedical sector through key strategies:
- supporting Queensland start-ups to prosper and successfully scale up
- supporting existing businesses to grow and attract new businesses to Queensland
- promoting capabilities to attract investment and facilitate alliances.
The Biomedical Voucher Program supports the delivery of the roadmap and action plan.
Queensland's biomedical sector at a glance
- A$1.86 billion estimated annual gross value added to the Queensland economy
- 10 700 people employed (2019)
- up to 40% growth forecast to 2027
- global expertise in tropical medicine and infectious diseases
- mature and emerging health and knowledge precincts
- established networks of top-tier industry support services
- expertise in e-health and telemedicine
- two decades of state government investment in science and innovation
- world-class research base, state-of-the-art translational research facilities and hospitals
- home to two of Australia's leading biopharmaceutical contract manufacturers
Why invest in Queensland biomedical industry?
- World-class biomedical ecosystem
- Fast, pragmatic regulatory pathway with rapid ethics approval
- Clinical data complies with top international standards
- Superior scientific talent and excellent research and medical infrastructure
- World-class training, teaching and research facilities
- Highly skilled workforce with strong technical and academic collaboration
- Brain gain: many Queenslanders have returned home with experience in international markets
- Enviable, relaxed lifestyle and world-famous natural attractions
- Lowest median house price in a capital city on the east coast
- Average of 300 days of sunshine annually
- Over 5 million residents with strong population growth and immigration from other states
- Very competitive business costs
- Low payroll tax (4.75%), high exemption threshold (A$1.1 million)
- Stable economic and political environment and the most decentralised of mainland Australian states
- Over 27 years of economic growth in Queensland and Australia
- Strategic location at the crossroads of the fast-growing Asia-Pacific region
- Five international passenger airports with direct connectivity to global markets
- Advantageous time zone within two hours of many major Asian capital cities
Queensland biomedical industry strengths
Queensland is home to a cluster of agile, innovative and entrepreneurial biomedical businesses. Our pre-clinical and early-phase clinical trial capabilities are underpinned by a world-class research base and state-of-the-art translational facilities.
Existing strengths and emerging capabilities include:
- vaccine development and delivery
- biopharmaceutical contract manufacturing
- microbiome analysis and development
- generic pharmaceuticals
- complementary medicines
- medical devices and diagnostics
- digital health technologies such as:
- connected devices
- remote monitoring technology and point-of-care diagnostics
- wearable devices
We can help your business
Strong support from the peak industry body
Funding and support ( 5.7 MB) is available for biomedical businesses through the Australian and Queensland governments to help you develop your innovation and grow your business.