South Australia will take prime position in an industry worth $200 billion globally, with the Digital Health Cooperative Research Centre choosing Lot Fourteen as its home of innovation, led by new CEO and global tech entrepreneur, Dr Terry Sweeney CMG.
The DHCRC is establishing a national centre for innovation in health and a commercialisation hub for digital health at its new Adelaide base, maximising its impact on the local health sector while boosting the economy through job creation and talent attraction.
Established in 2018, the Digital Health CRC (DHCRC) is a $200million national organisation funded by the Commonwealth Government and industry partners, fast-tracking technologies and digital health solutions to solve the most pressing healthcare challenges. It is the largest digital health collaborative in the world.
CEO Dr Terry Sweeney said SA’s thriving health ecosystem attracted him to Adelaide and is the perfect fit for the CRC’s innovation centre and new commercialisation hub Digital Hive with Covid-19 accelerating innovation in this industry.
“We have established a growing team at Lot Fourteen and are creating significant ‘new collar’ highly skilled local jobs. We plan to create more for our own organisation plus hundreds more for our ecosystem partners,” Dr Sweeney said, who relocated to Adelaide from his Sydney and Boston bases.
“This is a major win for South Australia, putting it firmly on the global stage in an important hi-tech industry, highlighting the CRCs focus on growing the digital economy. Bringing one per cent of the global digital health market to SA would represent $2bn for the state’s economy.
“We’re thankful for the support of the SA Government, helping our mission to be locally relevant and globally significant, and create a gold standard in health and medical research innovation.
We’re thrilled to be working with our existing SA partners such as SA Health, the University of South Australia, Flinders University and Alcidion and establishing vital new partnerships with local industry to advance the digital health economy.
Premier Steven Marshall says it is South Australia’s credentials that have led to the largest digital health CRC of its kind choosing to establish an innovation centre and commercialisation hub in Adelaide.
“South Australia’s global reputation for artificial intelligence and data analytics is attracting some of the world’s largest tech companies and has now been instrumental in attracting the Digital Health CRC that will drive innovation to solve local and national problems, using its commercialisation hub to scale and export local capability to the world.
“This a great news for South Australia, with the CRC already investing more than $2 million into South Australian research projects and also bringing with it, the best in global talent – including its CEO and founder of Digital Hive, Dr Terry Sweeney.
“Dr Sweeney has worked globally with international ‘best in class’ organisations and has chosen our state for this venture, citing our unique hi-tech and health and medical research ecosystem, open and supportive government, and stable economy.”
Minister for Trade and Investment, Stephen Patterson, said the launch of the Digital Health CRC complements the recent establishments of Google Cloud, Amazon Web Services and MTX Group into South Australia.
“South Australia is gaining a worldwide reputation for all things hi-tech and the health and medical industries sector is no exception – with the potential to inject $5 billion into our economy by 2030 and to be a world leader in digital health innovation.
‘The Digital Health CRC will help to accelerate that status and attract further digital health companies to South Australia.”