Today’s National Biotech and Medtech Development and Commercialisation Summit 2024 in Canberra will bring together more than 100 of Australia’s leading industry figures, policy experts, and innovators with the aim of shaping the future of the nation’s biotech and medtech sectors.
While Australia is a global leader in scientific research, consistently ranking in the top ten worldwide on the Global Innovation Index, commercialisation is not a strength. Australia currently ranks 30th for research outputs.
AusBiotech CEO Rebekah Cassidy said the summit is pivotal for Australian life sciences companies including innovators, manufacturers and service providers.
“The factors influencing life sciences investment and growth are changing rapidly, which is why it’s crucial that AusBiotech leverage its national convening power to elevate the sector’s voice and lead evidenced-based policy discussions. Now is the time for a unified strategy and roadmap focused on enhancing industry’s development and commercialisation capabilities to bring more life changing medical innovations to market.”
MTPConnect CEO Stuart Dignam said nurturing a culture of innovation and focus on commercialisation can make all the difference.
“We need a coordinated strategy for backing life sciences innovation and supporting startups and SMEs through the difficult early years of innovation so we capture more opportunities to develop and commercialise sovereign medical products that create jobs, exports and health improvements.”
The summit will address four central themes identified in the recently launched Discussion Paper.
They are protecting and advancing Australia’s health, moving beyond early-stage development, growing and optimising the capital pool, and creating a development-focused workforce.
Both organisations hope the summit will provide a clear roadmap to government and industry stakeholders that aligns policies, funding, and capabilities to accelerate the commercialisation of Australian innovations and position the country as a global leader.
The outcomes from the summit will inform a joint communique and a white paper.