NSW is spending $12.5 million 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.
The investment could transform the lives of people living with disease and will accelerate medical and technological research and generate an estimated 5,000 new jobs.
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.
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.