Australian Medical Science Co-investment Plan Launched
The Australian Government has launched its Medical Science Co-investment Plan, identifying a range of investment opportunities for government and industry including in medical devices, digital health and innovative therapeutics.
The plan was developed to help foster the growth of local medical manufacturing, by supporting commercialisation of medtech products and improving Australia’s competitive edge on the global stage.
The four primary areas of Investment opportunities in medical science as identified by the plan are:
- Digital health: e.g. the use of artificial intelligence, machine learning and other advanced technologies, advanced software solutions, and cyber security and health data collection solutions.
- Medical devices: e.g. the use of advanced manufacturing capabilities for speciality areas, robotics, non-invasive medical devices including smart and connected devices, and therapeutic-grade materials and components.
- Complex therapeutics: e.g. clinical trial infrastructure and capabilities, personalised medicines, and advanced research, development and manufacturing.
- Sustainability: e.g. additive manufacturing capabilities, circular economy principles, preventative healthcare and sustainable production.
“This co-investment plan for the medical science priority area sets out the government’s commitment to back Australia’s medical know-how to make more medical products here in Australia,” said Minister for Industry and Science, the Hon Ed Husic MP.
Read the Medical Science Co-investment Plan in full for further information.
