What is TRI2?
TRI2 is purpose-built scale-up and advanced manufacturing facility that will provide the means for start-up companies to move to the scale-up stage.
It enables them to manufacture scale-up product in clean rooms to support Australian clinical trials to take the product to market, while also providing practical training in advanced manufacturing; and a highly skilled workforce.
The TRI2 Edge
TRI2 meets the demand for pipeline development of medtech companies in Australia
over $1 billion of overall economic and health benefits
Advances research commercialisation and development
COVID-19 has demonstrated the importance of having localised sovereign capability in the MedTech sector
Despite the strengths of its science base, Australia has been less successful at translating research into clinical outcomes and commercial successes with the aim of improving greater health for the community within Australia and the world.
TRI2, will create high value jobs and the skills in cGMP. This will create much needed future jobs in manufacturing. Over 1,200 new jobs will be created as start-ups grow and succeed in TRI2 as well as over 1,400 construction jobs.
An initiative of TRI, Australia’s first translational research institute, TRI2 will fill an industry gap and allow high growth MedTech companies to drive commercialisation. Medtech companies from around the country and internationally will have opportunity to form a knowledge and health precinct.
The national benefits mean that $1 invested generates a direct return of $2.58. The clinical trials attract international venture capital and investment with forecasts of an overall economic and health benefit of over $1 billion. TRI Pty Ltd is investing $20 million into the project and is requesting $19.5 million each from the Queensland and Commonwealth Governments.