MTPConnect unveils 10-year plan to boost competitiveness of MTP sector

MTPConnect – The Medical Technologies and Pharmaceuticals Industry Growth Centre – today launched its Draft Sector Competitiveness Plan (Draft SCP), a 10-year strategic plan to boost the innovation, productivity and competitiveness of Australia’s medical technology, biotechnology, and pharmaceutical (MTP) sector.

By vigorously tackling barriers to success, through traditional and non-traditional means, MTPConnect is charged with driving the sector to new heights in the global market. The draft plan, created in consultation with the sector, identifies priority areas for growth and importantly, outlines how to achieve it.

Sue MacLeman, CEO and Managing Director of MTPConnect, said, “Growth of the Australian economy in the 21st Century will depend on our ability to develop high-skill, value-adding industries that can compete in the global marketplace. While we’ve had some great success stories of companies making it onto the global stage, we still have a lot of work to do, particularly in later stage product development and commercialisation. We need to build on our achievements and collaborate further to translate our good ideas into marketable products.

"We need to build on our achievements and collaborate further to translate our good ideas into marketable products." - MTPConnect CEO, Sue MacLeman

“By addressing the key issue of information exchange, along with well-known barriers – including policy and regulatory impediments – MTPConnect will help to create a more productive commercialisation environment, solve some of Australia’s own healthcare issues, and transform a lot of small companies into more mature companies that are stable and successful.”

MTPConnect’s Draft SCP has identified seven ‘Sector Growth Priorities’, each addressing specific elements of the MTP value chain. They are:

  1. Identify and promote Knowledge Priorities focused on current and future market needs
  2. Create a highly productive commercialisation environment from research to early clinical trials and proof-of-concept
  3. Transform the SME sub-sector to support the growth of smaller companies into larger, more stable and successful companies
  4. Support the development of digitally enabled MTP solutions: devices and data analytics
  5. Strengthen Australia as an attractive clinical trial research destination
  6. Position Australia as the preferred partner for emerging Asian markets
  7. Support advanced manufacturing as a part of the broader Australian innovation ecosystem

For more information, you can download the Draft SCP at www.mtpconnect-scp.org. MTPConnect is holding stakeholder discussion and seeking feedback on the Draft SCP through a series of events, with the view of presenting its final Sector Competitiveness Plan in Q4, 2016.