The Western Australian state government has committed $15 million to construct a new medical research and innovation hub in Perth.
Announced over the weekend, Minister for Medical Research and for Innovation and the Digital Economy Stephen Dawson said the hub will provide space for collaboration, research, and development.
It will link to the existing East Metropolitan Health Service Innovation Hub, QEII medical research precinct and the biomedical industry precinct in the suburb of Floreat.
The hub will be located at the former City of Perth Electricity and Gas building, a heritage-listed building constructed in the 1890s.
A state Department of Health issued tender for the construction of the Health innovation hub will accept applications until December 13, with a mandatory site inspection held on Monday.
Enhancing health and medical research hub infrastructure is a priority under the state government’s Health and Medical Research Strategy 2023-2033.
Mr Dawson said the innovation hub will drive job creation, development of breakthrough treatments and attract more investment.
“This innovation hub is vital to drive collaboration and foster new ideas that will improve health care delivery and outcomes across Western Australia,” Mr Dawson said.
“By investing in infrastructure that supports research and innovation, we ensure WA remains at the forefront of health advancements.
The money for the innovation hub comes out of the Future Health Research and Innovation fund, a sovereign wealth fund expected to award $250 million in grants over the next four years, according to the government.
The fund has awarded about $185 million in grants to around 627 recipients since it was established in 2020. The effectiveness of the fund is currently being evaluated by Scyne advisory.
The state government has also supported five innovation hubs under the startup focused New Industries Fund. These hubs focus on cybersecurity, data science, creative tech, life sciences and GreenTech.
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