With the wide reach of medicine and healthcare, Australia’s MTP sector must look to connect with global markets. Australia's culturally diverse population and highly skilled workforce place it in a unique position to trial new products and services, which has earned MTP professionals a strong reputation across the breadth of the sector.
Australia is well positioned with access to key global markets and experts available to provide advice. Australian companies and startups are realising opportunities to elevate their disruptive technologies and new discoveries to access support from industry experts such as Austrade - the Australian Government’s Trade and Investment Commission. The Government body can provide appropriate avenues for engagement with global partners for licensing, R&D, co-development, distribution and marketing in overseas in specific markets.
Austrade puts Australia in an integral place to provide information, education and training to help Australian companies to grow their business in international markets. This includes advice through the administration of the Export Market Development Grants (EMDG) scheme and the TradeStart programme. It also provides coordinated government assistance to promote, attract and facilitate productive Foreign Direct Investment (FDI) into Australia.
AusBiotech provides tailored training at the executive level in dealing with global markets through its Asian Investment Series as part of the Comprehensive Global Investment Program – a Project Fund Program recipient. This includes an Australian delegation of MTP companies travelling to key markets such as Hong Kong and Shanghai. The recent 2018 delegation uncovered great opportunities for Australian companies as Chinese investors are looking to invest in life sciences and technology as evidenced by the continued growth of their Science and Technology Park (HKSTP).
Asialink Business is an excellent resource for those preparing to seek investment in Asia. Its Country Starter Packs give an insightful look into each country to establish operations in Asia and develop their Asia capability, as well as case studies of companies who have tried their hand at investing, and Asialink’s special reports for guides on Asia’s business leaders.
MTPConnect is committed to improving the sector’s capability to engage with international markets and access global supply chains, provide opportunities for continued engagement. It is working closely with Austrade, AusBiotech and others to strengthen Australian sector’s engagement with international markets. Some specific market information and strategies include:
- Austrade - Biotechnology to China
- Ausbiotech - Doing business with China
- Austrade - Biotechnology to Korea
- Austrade - Biotechnology to Taiwan
Many of Australia's State Government's have dedicated strategies for international engagement, and sophisticated networks in key markets.
- Victorian Government International Business Offices
- Queensland Government International Business Offices
- NSW Government International Business Offices
- WA Government International Business Offices
- SA Government International Business Offices