Medical Technologies and Pharmaceuticals Growth Centre The Medical Technologies and Pharmaceuticals Growth Centre will capitalise on the sector’s competitive advantage and establish Australia as an Asia Pacific hub for medical technology and pharmaceutical companies. Overview The Medical Technologies and Pharmaceuticals Growth Centre is part of the $248 million Industry Growth Centres Initiative. Growth Centres will work to unlock commercial opportunities and drive innovation by building links between businesses and industry organisations and the science and research sector. They will assist Australian industry to better capitalise on the excellent research and development undertaken and scientific knowledge generated in Australia. The Growth Centre will boost the competitiveness, productivity and innovative capacity of Australia’s Medical Technologies and Pharmaceuticals sector by: identifying opportunities to reduce regulatory burden, increasing collaboration and commercialisation, improving capabilities to engage with international markets and global supply chains and enhancing management and workforce skills. A sector strategy and activities will be developed to put this into action. Laying the groundwork for success The Growth Centre is led by Dr Bronwyn Evans and a small board of respected industry leaders. First year activities include: Developing a 10 year strategic plan for the sector through the Growth Centre’s Sector Competitiveness Plan. Laying the foundations for improving sector collaboration and the regulatory environment by mapping initiatives that are aimed at improving the sector’s competitiveness and productivity. Consolidating sector information and services into one website to identify industry assistance programmes, grants and opportunities to help address industry challenges. Working closely with relevant Cooperative Research Centres so they can be the research engines for the Growth Centre. Establishing a hub to support skills sharing and development. The Medical Technologies and Pharmaceuticals Growth Centre in action The Growth Centre will drive sector competitiveness and productivity by: 1. Accelerating industry initiatives aimed at enhancing competitiveness and productivity, in particular those that have the strongest impact on supporting SMEs. 2. Increasing coordination across the sector to link industry, public and private research organisations to state and Australian Government initiatives, reduce duplication and identify opportunities for alignment. 3. Developing a more competitive market for investment and funding. 4. Advocating for a more streamlined regulatory system. 5. Building a skills and knowledge base to embed a commercialisation culture that pulls research through to market development. 6. Working in partnership with government agencies to create a vibrant and coordinated international trade presence for the sector in key global markets. National reach and focus The Growth Centre will link hubs around Australia to strengthen and leverage existing collaborative relationships, which will improve the sector’s competitiveness and productivity. The Growth Centre’s headquarters will be the University of Sydney’s Institute of Biomedical Engineering and Technology to capitalise on its infrastructure, national and international networks and proximity to Australia’s biomedical and pharmaceutical industry. Contact If you are interested in being involved with the Medical Technologies and Pharmaceuticals Growth Centre email: medGC@industry.gov.au For more information on the Medical Technologies and Pharmaceuticals Growth Centre go to mtpconnect.org.au. For more information on the Industry Growth Centres Initiative go to www.business.gov.au/IndustryGrowthCentres.