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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 (PDF icon 2.4 MB) (the Roadmap) sets out a $4 million program to support and attract biomedical enterprises.

Vision: 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.

Queensland's biomedical industry contributes $1.44 billion to the state economy and employs more than 9000 people, with the potential to grow by almost 40% and deliver up to 3000 new jobs by 2027.

However, the challenges the industry faces accessing crucial investment, expertise and collaborative opportunities may inhibit this potential.

The Roadmap responds to the industry's request for assistance accessing the capital, skills and resources it needs to commercialise new products and compete in global markets.

Key initiatives

  • The Biomedical Assistance Fund is a $2 million program that will open doors for Queensland biomedical enterprises to access the tens of billions of dollars available in government grants and private investment by equipping them with support in preparing investment documentation, advice on capital raising and other assistance.
  • The ‘Lean Launchpad’ incubator will take a group of biomedical enterprises through an intensive program of mentoring on developing, validating and implementing their ideas.
  • A biomedical voucher scheme will provide national and international biomedical companies access to Queensland's biomedical infrastructure and capabilities.
  • A program of business-to-business collaboration and information sharing initiatives will help connect biomedical enterprises with the skills and knowledge they need to grow.

The Queensland Biomedical 10-Year Roadmap and Action Plan is part of the Queensland Government's $420 million Advance Queensland initiative to create knowledge-based jobs of the future for Queenslanders.

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