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According to Senior Investment Commissioner for North America Robert Hunt: "Zyvex is visiting Australia to acquaint itself first-hand with the nanotechnology market opportunities, as well as to get a more in depth knowledge of a variety of break-through research being conducted at Australian research institutions."
With 370 biotech companies (most of which are SMEs with a single product line) and 600 medical device companies Australia ranks sixth in the world. Market Capitalisation of Australian biotechs on the ASX was US$7.132 billion. Most Australia firms are spin-offs from the research sector. 70% of new firms in 2003 emerged from public research organisations Australian biotech industry employs about 6,000 employed in the sector. Biotech & Healthcare was the lead sector in attracting VC funding in 2003. Government spending on biotech R&D was A$968m and business spending on R&D was $517 million. 70 new US biotech patents were granted in year to March 2004.
Source: Zyvex President Tours Australian R&D Centres for Nanotech Gems
  | Manufacturing | Wholesale Trade | Property & Business services | Other industries | Total |
---|---|---|---|---|---|
Number of businesses | 69 | 17 | 148 | 18 | 252 |
Expenditure on R&D |   |   |   |   |   |
Total ($ '000) | 179264 | 24934 | 313213 | 17041 | 534452 |
As a proportion of total BERD | 5 | 9 | 19 | 1 | 7 |
Human Resources devoted to R&D |   |   |   |   |   |
Total (person-years) | 959 | 123 | 1600 | 112 | 2794 |
As a proportion of total human resources | 5 | 6 | 14 | 2 | 7 |
Note: (a) Only includes R&D performers who had expenditure on biotechnology related R&D. The R&D was performed by themself and/or another.