The 2019-20 NSW Budget includes a $12.5 million investment that could transform the lives of people living with disease. The investment delivers on an election commitment that will accelerate medical and technological research, and generate an estimated 5,000 new jobs.
The funding will be used to create a new world class precinct for business, scientists and start-ups at the Australian Nuclear Science and Technology Organisation (ANSTO) in Sydney, which is already working on cutting edge treatments for cancers and other diseases.
Minister for Innovation Kevin Anderson said the new Nuclear Medicine and Technology Hub will help develop cutting edge nuclear medical and technological research.
“This is a world-leading nuclear research facility that’s using ground breaking technology to develop particle therapy, create new medical treatments for inoperable cancers, and monitor the progression of diseases, among other things,” Mr Anderson said.
The centrepiece of ANSTO’s work is the Open Pool Australian Lightwater (OPAL) reactor, which is one of only six nuclear reactors in the world that can produce commercial quantities of radioisotopes.
The NSW Government’s $12.5 million of funding will be delivered over five years to: • Create incubators for nuclear medicine and technology businesses, giving start-ups access to cutting edge technology and some of the best science in Australia; • Help establish a graduate institute, including 25 new scholarships for PhD students; and • Drive collaboration between startups, researchers and industry to grow advanced technology businesses in NSW.
Member for Holsworthy Melanie Gibbons said ANSTO is working towards making Australia a global leader in the supply of nuclear medicine.
“This $12.5 million investment will help to boost innovation in the region, with ANSTO’s work having the potential to change the lives of thousands of people,” Ms Gibbons said.
Member for Heathcote Lee Evans said southern Sydney will benefit greatly from the Hub.
“We have some of the best scientific minds already working at ANSTO in Lucas Heights, and this funding will help put southern Sydney on the map as an innovation powerhouse,” Mr Evans said.