WASHINGTON--(BUSINESS WIRE)--The Australian State of Victoria, the Asia-Pacific leader in the biotechnology industry, today concluded a showcase of its scientists, innovative companies, projects and technology at the 2011 BIO International Convention, held in Washington, D.C. at the Walter E. Washington Convention Center. The delegation included scientists, researchers and executives from Victoria’s successful biotechnology and life sciences industry.
As part of the delegation, Melbourne-based National ICT Australia Ltd (NICTA), an information and communications technology research center, showcased its breakthrough research, including:
- A major milestone for the bionic eye: A team of researchers led by NICTA’s Professor Stan Skafidas announced that it has developed a microchip for the second generation bionic eye, as part of its work with Bionic Vision Australia. Testing of the microchip is progressing well and results are encouraging. The team will now focus on developing a version of the chip with 1,000 stimulation channels and wireless transfer of data and power. The bionic eye works by sending data directly from a camera mounted on glasses to a retinal implant at the back of the eye. Researchers aim to develop the technology so people can recognize faces and objects. Patient tests for the second generation bionic eye are set to commence in 2014.
- Gossamer genome assembler: NICTA’s de novo genome assembler, demonstrated for BIO attendees in the Australian Pavilion (booths 2537 and 2637) throughout the course of the show, enables researchers to assemble DNA fragments using a commodity computer instead of having to depend on large-scale, complex computing infrastructures. Now available to be trialled for non-commercial use, Gossamer allows for complex analytics to be completed on personal computers, significantly expediting the research process and significantly decreasing the cost of genome assembly.
- TrackAssist software for enhanced cell proliferation data analysis: TrackAssist, also demonstrated at the Australian Pavilion during the course of the event, is an advanced software tool that automates microscopic image data analysis for the extraction of biologically relevant information from video sequences of live cells. The software, which was developed in collaboration with the Immunology Lab at the Walter and Eliza Hall Institute of Medical Research (WEHI), decreases the time it takes to analyze these video images from as much as 9-12 months down to just hours. In addition to saving significant time, TrackAssist also is able to extract additional cell data, such as size, intensities and lineage, which provide detailed insight into the workings of cells.
Melbourne and the State of Victoria have long been a hotbed for biotech innovation down under. Home to life sciences companies that have developed everything from the swine flu vaccine to the bionic ear, Victoria boasts more than 13 major medical research institutes.
Victorian biotech companies benefit from the state’s cutting-edge infrastructure, including the Parkville Comprehensive Cancer Centre, the world’s most powerful life sciences supercomputer, financial stability and a supportive state government – the Victorian government has invested nearly $4 billion in science and innovation during the last 10 years.
Earlier this month, the Australian government announced an AU$1.8 million R&D tax credit that further established Melbourne as the world’s most attractive tax environment for R&D, according to KPMG, the U.S.-based audit, tax and advisory services firm. Under the new broad-based system, which will begin on July 1, 2011, companies in industries such as biotechnology with turnover of less than AU$20 million will be eligible for a 45 percent refundable tax credit. Additionally, KPMG’s biennial Competitive Alternatives study found that companies benefited from an 88 percent lesser tax burden for R&D activities carried out in Melbourne than in the United States.
“Now, the incentives for companies to establish operations in the State of Victoria are greater than ever,” said Victor Perton, commissioner to the Americas for the State Government of Victoria. “At the Convention, my team has met with a large number of U.S. corporations interested in doing more in R&D and investing in Australian know-how and ingenuity. They like our can-do manner and healthy optimism.
“We look forward to welcoming more innovative biotechnology and life sciences companies that are eager to take advantage of this tax credit,” continued Perton. “American companies are keen to tap into our tens of thousands of researchers, top-flight research schools, skilled workforce, sophisticated infrastructure and the world’s best lifestyle, which attracts a global pool of talent.”
For business inquiries regarding Victoria’s biotechnology industry, contact Victor Perton, Commissioner to the Americas, State Government of Victoria, Australia (415.856.0552 ext. 103, victor.perton@dbi.vic.gov.au).
For additional details on NICTA and the innovations it announced at the BIO International Convention, visit www.nicta.com.au.
About Invest Victoria
Invest Victoria is the investment promotion agency of the State Government of Victoria, Australia, based in Melbourne and across the globe, including San Francisco, Chicago, Washington, D.C., and New York. Invest Victoria provides a single entry point to a range of business and investment services for companies wanting to set up or expand their business operations through foreign direct investment (FDI) in the state of Victoria. For more information on Invest Victoria’s services, visit www.investvictoria.com.
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