Austrade has opened a new office in Boston, Massachusetts to boost innovation and increase opportunities for Australian businesses.
Boston and the broader New England region is globally renowned as a hotspot for technology and innovation.
It is home to more than 250 colleges and universities including four Ivy League members (Brown, Dartmouth, Harvard and Yale) and the Massachusetts Institute of Technology (MIT).
Austrade’s new presence in Boston will focus on two-way trade and investment, particularly in technology-driven sectors such as medical technology.
Trade Minister Steven Ciobo says the new office will strengthen Australia’s links and collaboration with New England’s world-class research and development facilities, many of which host leading Australians.
Austrade is already supporting Australian companies like CoreDNA to expand their networks and gain market information on the ground in Boston, as well as seeking opportunities for Boston-based tech companies to establish operations in Australia.
MassChallenge, a startup accelerator, and Flywire, specialising in international payments systems, are two examples of innovative Boston companies that have seen the potential for expansion in Australia and recently committed to establishing a presence here.
Key economic partner
Australian Consul-General in New York, Nick Minchin, and Senior Trade and Investment Commissioner to the US and Canada Nicola Watkinson officially opened the new Austrade Boston office at a ceremony yesterday.
Boston adds to the Australian Government’s trade network in the US, which includes the Australian Embassy in Washington D.C and consulates in New York, Chicago, Houston, San Francisco, Los Angeles and Honolulu.
The United States is a key economic partner for Australia, with two-way investment worth more than A$1.45 trillion and bilateral trade worth over A$70 billion in 2015. The US is also the largest destination for Australian investment with A$594 million invested there.
“Our promotion of Australia through the G'Day USA program helps to reinforce the work of our USA trade and investment network and strengthen Australia's reputation as a strong partner for the USA including in services and technology,” Mr Ciobo said.