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The size of Australia’s MTP sector
The MTP sector is a significant contributor to the Australian economy, generating approximately $4.9 billion in gross economic value added to the economy [i] and manufacturing exports have risen to c.$5.2 billion in 2016, from $4 billion in 2015 [ii]. As at June 2016, 1,230 companies were registered in the MTP industry, 189 deals took place, and c.$1.38 billion capital was raised [iii]. In 2016, 62,000 jobs in research (22,650) and industry (39,500) were supported by the sector [iv].
To learn more about our growing sector and our activities to date, please visit our Annual Highlights page.
[i] ABS8155 (for 4-digit apportions); ABS5206 (Australian National Accounts); L.E.K analysis
[ii] ABS 5368; L.E.K analysis
[iii] Clarivate Analytics; BioShares Quarterly Report; L.E.K. analysis
[iv] ABS census data (2011 and 2016); ABS 6291-table EQ06; AAMRI Members report 2016; NHMRC Funding Factbookl L.E.K analysis
MTPConnect was formed as a not-for-profit organisation in November 2015 as part of the Australian Government’s Industry Growth Centres Initiative to accelerate the rate of growth of the MTP sector to achieve greater commercialisation and establish Australia as an Asia-Pacific hub for MTP companies.
MTPConnect is an established independent and trusted voice, calling for change to support the sector. It fosters collaboration and competition, aggregates existing knowledge and shares it with the broader sector. Finally, it jointly funds projects that address the Sector Growth Priorities and the constraints and gaps identified in the sector.
The MTPConnect head office is located at the New Horizons Building at Monash University in Melbourne, co-located with CSIRO and other industry partners. There are also key hubs at the University of Sydney’s Institute of Biomedical Engineering and Technology, the Medical Device Research Institute at Flinders University at Tonsley in Adelaide and the Harry Perkins Institute of Medical Research in Perth.