The Hunter is aiming to get a slice of $250 million in medical research funding unveiled in the Turnbull government’s innovation revolution.

The funding aims to make the medical research sector more commercial, but there’s also concern about job losses in the sector.

Hunter Medical Research Institute director Michael Nilsson said the sector must “learn to be more entrepreneurial”.

“Traditionally we are not doing that to the right level,” Professor Nilsson said.

“We have some stunning examples, but overall the sector needs to step up.”

The government’s innovation agenda coincided with Regional Development Hunter’s creation of a “smart specialisation” strategy.

The medical technology sector was considered a good prospect to generate future jobs in the region.

Mr Nilsson said HMRI had increasingly become pro-business, forging partnerships with drug and technology companies.

“We can’t simply look for better treatments, but have to find opportunities for high-skilled jobs right across the spectrum,” he said.

National Association of Research Fellows president Rob Ramsay said medical research was part of “a new wave of manufacturing”.

“One of the largest parts of the manufacturing economy is medical-research driven products – pharmaceuticals and devices,” he said.

“We’re part of driving the future economy of innovation and discovery and exporting into Asia.”

But he said many medical research grant applications remained unfunded, which was causing job losses among international-standard researchers.

Aside from the $250 million announcement, medical research received about $900 million a year in federal budget funds.

Mr Ramsay said this was not enough, considering medical research created big efficiencies in the health system that saved money, boosted the economy and improved public health.

The federal government plans to build up $20 billion in its Medical Research Future Fund by 2020.

The aim was to eventually distribute about $1 billion a year from the future fund for medical research, but presently about $10 million a year was handed out.

View the Newcastle Herald story http://www.theherald.com.au/story/3563376/taking-your-medicine/