With 37% of the nation’s medtech companies, New South Wales is at the forefront of Australia’s world-renowned medtech industry.
With its outstanding research capacity, leading medical innovation districts and state-of-the-art facilities, NSW is a centre of health and life sciences innovation. The state has rapidly growing medical and pharmaceutical industries and is home to top research institutions. Its world-class universities include the University of Sydney and the University of New South Wales, both with medical schools ranked in the world’s top 50. The state also hosts leading medical innovation districts. Boasting four major hospitals, four world-leading medical research institutes and two university campuses, the Westmead Health and Innovation District is a global centre for new discoveries, commercialisation, treatment, education and training. More than A$3 billion has been committed to expand and upgrade the precinct over the coming years. The Macquarie Park Innovation District is Sydney’s largest innovation hotspot, with 180 large life science, technology and digital businesses.
New South Wales is also a premier destination for efficient and high-quality clinical trials. The state’s fast-growing pharmaceuticals industry is supported by first rate infrastructure including:
- the NSW Statewide Biobank, a state-of-the art facility that supports biospecimen research start-up and sample collection through to processing, storage, data linkage and access
- the Biologics Innovation Facility, an unmatched GMP bioprocessing training and production facility at the University of Technology Sydney.
On top of this, a proposed A$25 million viral vector manufacturing facility will be one of the few sites in the world to combine a complete drug development pipeline with a strong translational research program.
Incentives, grants and support
There are many programs supporting individuals and companies in the medtech sector, including:
- The NSW Medical Devices Fund supports medtech companies to bring local innovations to market with grants totalling A$8.2 million per year. Your business could be eligible for a competitive grant to support the development and commercialisation of a medical device or related technology. Grant recipients often go on to attract high-profile private investment.
- The Medical Device Commercialisation Training Program supports New South Wales-based technologists, academics and clinicians to develop and commercialise medical devices.
You may also be eligible to access a Minimum Viable Product (MVP) grant of up to A$25,000 to help achieve market validation and first sale.
For support with market entry, opportunities and growth, business connections and more:
- Investment NSW provides connections to global export markets.
- The Business Connect program supports startups in phase one growth.
Leading global CAR-T cancer treatment expert, Dr Patrick Schlegel, has been welcomed to the Westmead Health Precinct to lead a new research program on CAR-T cell immunotherapy. The research program will harness the power of the body’s immune system to develop treatments that are more effective and less toxic.