SYDNEY, July 3 (Xinhua) -- The Western Australian (WA) State government have teamed up with a university and not-for-profit organisation on Tuesday to establish a state of the art innovation hub focused on developing medicine, pharmaceuticals and biotechnologies.
The University of WA, along with MTPConnect (Med tech Pharma) will partner the government with the aim to accelerate research and development in areas like food processing and health.
"(We) will run educational programs to support life science startups and innovation, working closely with local sector stakeholders to develop skills in product translation and commercialisation, attracting investment opportunities," MTPConnect said in a statement.
There will also be facilities to conduct clinical trials and develop pre-clinical expertise capabilities.
"We have some of the most innovative people in Australia located right here in Perth," WA innovation and science minister Dave Kelly said.
"Through this innovation hub, I look forward to seeing what these innovators can deliver for the benefit of our local economy and health sector."
Financed by the State's 16.7 million Australian dollars (12.3 million U.S. dollars) New Industries Fund, the hub will receive around 1.2 million Australian dollars (900,000 U.S. dollars) over the next four years.
