Working with the Victorian Government to bring development expertise to Victoria's biotechnology sector
In June 2010, Medicines Development was awarded a grant from the Victorian Government to enable us to expand our program for training and placement of skilled Development Managers within Victorian biotechnology companies.
The funding will span over 3 years as part of the Victorian Government's Smart Small to Medium Size Enterprises (SMEs) Innovation Commercialisation Program (ICP). The grant is a part contribution towards the cost of expanding the development management capability of Medicines Development with a view to enhancing the transfer of skills into Victoria's biotechnology sector. Specifically, the award is part funding for the recruitment, training and supervision of new Development Managers. Each Manager will be placed into a biotechnology company with ongoing mentorship from Medicines Development's management.
Medicines Development has undertaken to pass on the benefits of this award to the Victorian biotech community who will be able to access Development Managers recruited under the scheme at significantly discounted rates for the duration of the program. The rationale for this is to ensure specialised, practical, international-standard medicine development expertise is readily accessible to Victoria's biotechnology industry, thereby addressing the skills shortage identified in this area. The Victorian Biotechnology Industry Skills Review identified that demand for all biotechnology-related occupations is increasing notwithstanding the impact of the global financial crisis. In particular, there is ongoing demand for project management skills, clinical strategy and regulatory affairs.
Smart SMEs ICP Victorian Government initiative is aimed at growing globally competitive businesses by building commercialisation skills and capabilities, improving access to finance and boosting the adoption of technology by industry. It is part of the Victorian Government's wider commitment to building the State's innovation base to drive future high-skill jobs creation and growth.
The Medicines Development model aligns with Smart SMEs ICP by offering a complete suite of services that will build the capability of the placement company through skill base transfer and corporate knowledge. Through this capability building and by providing an ongoing legacy, Medicines Development aims to enhance the capacity of placement companies in Victoria to facilitate technology transfer opportunities (e.g. research from an institute into a company) and navigate pathways to commercialisation.
For more information about the Smart SMEs ICP visit www.innovation.vic.gov.au
