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BioMelbourne Network

Support for the development of Victoria’s biotechnology industry as a major economic opportunity is a key focus for the Committee for Melbourne and BioMelbourne Network has become one of the Committee's key initiatives.

Business Opportunities, Leadership Forums, Industry Information, Trade Access

The Network is industry-led and industry responsive, actively engaged with all the main players in the Victorian research, academic and business services sectors, and now has more than 140 member organisations.

The Network facilitates business development and commercialisation and, during the last two years, BioMelbourne Network has presented more than 60 networking, trade development and CEO Forum events, with a total attendance of over 6000 industry leaders.

Why BioMelbourne Network is strategically important

BioMelbourne Network embraces several of the Committee's strategic goals, including promoting innovation in business, fostering leadership and maintaining Melbourne's global relevance.

The challenge

The lack of extensive and integrated networks linking researchers with the business and financial sector was identified as a major commercialisation expertise gap. To address this issue, the Committee for Melbourne established the BioMelbourne Network.

The vision

The Committee's vision for this initiative was to establish the first state-focused biotechnology business network - a unique collaboration between government, business leaders and the biotechnology sector.

Victoria's own

The Network has grown to become the single point of referral and access for decision-makers in Melbourne's dynamic life sciences sector as well as driving industry promotion and advocacy programs. Modelled on successful biotechnology networks in Boston and San Diego, BioMelbourne Network acts as a trade development and business investment attraction agency exclusively focusing on the interests of the Melbourne and Victorian biotechnology sectors.

Major Activity Areas of BioMelbourne Network 

• Marketing and promoting Victoria as the Australian Biotechnology capital, both nationally and internationally
• Joint activities with other stakeholders such as Committee for Melbourne, State Government of Victoria and AusBiotech Ltd, among others, and
• Acting as a catalyst for change and improvement across a range of issues which affect the sector including taxation reform, capital raising, professional development and other business and scientific issues.

Further Information

Boston Consulting Group (BCG) was commissioned by the Committee for Melbourne™ in 1998 to provide a report on the Victorian Biotechnology industry. The report confirmed Victoria's position as the leading Australian state for biotechnology business activity with local companies having market capitalisation totalling $8.3 billion (54% of the Australian total). Additionally, Victoria is recognised as the leading biotechnology centre in the Asia Pacific region and as a major global biotechnology centre.

Importantly, the BCG report found that although Victoria hosted a well-developed research & development base, an expertise gap was present threatening the maximisation of ongoing international commercial opportunities.