House of Assembly Fifty-Second Parliament, Second Session (52-2) 52 2 Parliament of South Australia House of Assembly published Question Time Bio Innovation SA BIO INNOVATION SA The Hon. S.W. KEY House of Assembly Ashford BIO INNOVATION SA The Hon. S.W. KEY (Ashford) (14:51): My question is directed to the Minister for Science and Information Economy. Will the minister inform the house about the significance of the new bioscience facility secured by Bio Innovation SA? The Hon. G. PORTOLESI House of Assembly Hartley Minister for Employment, Higher Education and Skills Minister for Science and Information Economy BIO INNOVATION SA The Hon. G. PORTOLESI (Hartley—Minister for Employment, Higher Education and Skills, Minister for Science and Information Economy) (14:51): Yes, I can provide a response to the member. This government appreciates, very much, the significance and importance of supporting and encouraging high value industries and sectors here in South Australia, and our bioscience sector has a great track record of generating exports, jobs and economic benefits for South Australia—no doubt, to be spurred along even further by investments made by the federal government on the weekend. There are around 100 innovative bioscience companies in South Australia that employ about 1,700 people. Bioscience is a major exporter. In 2012, it is estimated to have generated around $100 million in exports for South Australia. The state government supports this sector, mainly through the outstanding work of Bio Innovation SA. Our investment in BioSA has totalled nearly $70 million since 2005, and over many years we have seen the success of that particular model. I recently again visited the Thebarton Bioscience Precinct, and it was very clear how BioSA has been turning what are fantastic ideas into very successful commercial ventures. It takes early stage companies and offers them assistance with, for instance, such things as mentoring, professional development, networking opportunities and, of course, very important and very strategic financial assistance. Of course, the bioscience incubator at Thebarton provides tenants with shared access to laboratory equipment and other facilities. This approach is important for new companies because the cost of advanced— The Hon. A. Koutsantonis interjecting: The Hon. G. PORTOLESI House of Assembly The Hon. G. PORTOLESI: Please tell him off, Mr Speaker. This approach is important for new companies, because the cost of advanced lab equipment, for instance, can be a barrier to getting that great idea off the ground. I am very pleased to report that the incubator has been a huge success, with 100 per cent occupancy for the last four years. However, it is starting to become a victim of its own success. The businesses are starting to outgrow the incubator and are clamouring for more space, so I am very pleased to report that BioSA has secured a new facility virtually next door to the existing incubator, and that will allow new companies to move in and existing companies to grow. The new BioSA Tech Hub, as it is called, will increase the incubation space, and the companies will include and cover a range of fields such as information technology, device manufacturing and pharmaceuticals, for instance. We are very proud of this investment. We are very proud of the work that has been done under the leadership of Jurgen Michaelis, and I would also like to acknowledge Mr Dennis Mutton, who is Chair of BioSA. I wish them all the very best for the future.