February 25, 2024

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Supporting the Development of Biotech Australia

Synthetic biology is a rapidly growing field that applies engineering principles and genetic technologies to biology, drawing on biology, engineering, and computer science, as well as many other fields.

According to the new report, A National Synthetic Biology Roadmap: Identifying commercial and economic opportunities for Australia, the two biggest areas to benefit from synthetic biology are the food and agriculture (up to $19 billion) and health and medicine sectors (up to $7 billion). Australia has invested at least $80 million in developing synthetic biology research capabilities in recent years.

CSIRO is focused on developing capacity in synthetic biology including through a new BioFoundry facility in Queensland which provides a bioengineering capability to the research and development community to rapidly design, build and test new biotechnologies.

Professor Claudia Vickers, Synthetic Biology Director at CSIRO said the scientific impact was encouraging, and with sustained investment, can deliver increased impact and economic benefit. She noted that synthetic biology can help overcome a range of global challenges, particularly in agriculture and health. It can also enable Australia to transform its economy by creating new, more sustainable industries and generating jobs. Bringing technology, the research community and other stakeholders together to enable start-ups, private investment and growth of market share will be essential to achieve the vision outlined in the Roadmap.

The Associate Director CSIRO Futures and lead author of the report said Australia needs to act quickly to secure a key role in this emerging global capability. He said that Australia must act now if it is to capitalise on its early research investments and enable the long-term success of this emerging ecosystem. To do this, Australia will need to place a greater focus on the translation and scale-up of synthetic biology into commercial opportunities for global markets.

About the roadmap 

The Roadmap was developed with input from 140 stakeholders from over 60 organisations to identify priority actions that can help set the foundations for a valuable and impactful synthetic biology ecosystem, including:

  • Support research translation and seed new businesses through targeted investments and bio incubator programs
  • Develop shared infrastructure to enable the development and demonstration of synthetic biology applications
  • Attract international businesses and talent to build critical mass and enhance international collaboration
  • Strengthen foundational ecosystem enablers including leadership, governance, skills, and collaboration.

This report builds on previous efforts including the detailed horizon scanning report, Synthetic Biology in Australia, produced by the Australian Council of Learned Academies (ACOLA) in 2018.

The global synthetic biology market size is projected to reach US$30.7 billion by 2026 from US$9.5 billion in 2021, at a CAGR of 26.5% during the forecast period. Factors such as a wide range of applications of synthetic biology, the rising R&D funding and growing initiatives in synthetic biology, declining cost of DNA sequencing and synthesizing, and increasing investments in the market are propelling the growth of this market. However, biosafety, biosecurity, and ethical concerns related to synthetic biology would hamper the growth of this market.

Many established pharmaceutical and biopharmaceutical companies, along with players of the synthetic biology market, have stepped forward to contribute to worldwide research efforts by providing synthetic biology for developing test kits, treatments, and vaccines to target the infection caused by the coronavirus. Synthetic biology is highlighted as one of the emerging technologies in a report from the European Parliament. It can fight the COVID-19 pandemic.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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