Enabling a traditional Australian medicinal plants agribusiness
- Integria Healthcare (Australia) Pty Ltd
- Traditional Homeland Enterprises
- Menzies School of Health Research
- The University of Queensland
This project will establish a model for a new agribusiness in northern Australia based on native medicinal plants. It will combine science and traditional Indigenous knowledge to develop a prototype range of natural healthcare products, to be marketed nationally and internationally.
The project will be a model for the collaborative, commercial development of an untapped natural resource, involving Indigenous enterprises, Indigenous rangers, researchers and a leading natural healthcare business with established markets in Australia, Asia, Europe and North America. Raw materials in the form of medicinal plants will be sourced in northern Australia and subjected to scientific evaluation at Menzies School of Health Research in Darwin and at The University of Queensland, Brisbane.
Development and marketing of new topical products with native plant extracts as active ingredients will be explored by Integria Healthcare, with a sustainable supply chain established by Traditional Homeland Enterprises in northern Australia. Benefit sharing and Intellectual Property management will be in accordance with best current practice.
- Within 3-5 years based on small penetration of the topical antimicrobial and anti-inflammatory markets a real value impact could be $2,000,000 p.a. Over the longer-term (5-10 years) this could grow to $20,000,000 p.a. given successful marketing and international uptake.
- Development of a local industry with opportunities in Indigenous workforce development, sustainable regional development in northern Australia and potential export of uniquely Australian, value-added products.