Startup Daily TV: NSW tech, innovation & science minister Alister Henskens on the state's $800 million plan for startups

The NSW budget, announced last week, delivered the single-largest investment in scientific research, innovation and technological development in the state’s history – $832.7 million boost over four years.

Total investment topped $1.1 billion with $270 million also announced to boost to biomedical research, on top of $119.1 million over 10 years for RNA research and development initiatives, as well as the $95.8 million RNA Pilot Manufacturing Facility announced last year.

NSW Minister for Science, Innovation and Technology Alister Henskens said government investment is designed to turbocharge the innovation ecosystem in NSW, creating jobs and new industries in line with the recently released NSW 20-Year R&D Roadmap.

The Budget included $703.4 million to establish the Future Economy Fund, which will expand and accelerate R&D and commercialisation opportunities across the State, building on the work of the NSW Government’s R&D Action Plan.

The $270m is for two new facilities – the Sydney Biomedical Accelerator Complex in Camperdown and the Viral Vector manufacturing facility at Westmead – to help develop treatments for rare, life-limiting diseases as part of the NSW Government’s commitment to driving world-leading health and research precincts.

Startup Daily TV caught up with Minister Henskens to talk about the government’s plans, including addressing the “valley of death” for capital for early-stage startups, looking two decades ahead in deep tech, the potential for quantum computing and the new announcement this week, plans for the Semiconductor Sector Service Bureau (S3B) to ramp the state’s semiconductor capability in partnership with the CSIRO.

You can watch our extended interview with the tech minister by clicking on the link below.