Industry Analysis & Industry Trends
Biotechnology is becoming an increasingly important part of product development in a variety of industries. While genetically modified products remain controversial, attitudes are expected to begin to change, with the increasing acceptance of the process within agricultural industries and across other sectors.
Biotechnology companies are often spin-offs of research started in higher education, public and not-for-profit research organisations. While a large amount of biotech research and development is funded by selling company stock or from interest income, research in the industry is largely funded by government and non-profit organisations. Nonetheless, the private sector is increasing its contribution... purchase to read more
Industry Report - Industry Locations Chapter
The industry has developed in geographical clusters that are largely determined by proximity to universities and other major research centres. These clusters often stem from universities that commercialise their discoveries in their given field or from spin-offs of government-funded research initiatives. For example, the CSIRO has biotechnology-related facilities in most states and territories, which supported the development of the industry in its earlier stages.
Melbourne is the base of operations for some of the more mature companies in the industry, which accounts for the state's large share of employment. As companies bring their R&D to the market, they need to expand their employment base to include sales and marketing and other support staff... purchase to read more