Government’s Medical Science Co-investment Plan Prioritises Life Science Innovation
15 April 2024
As Australia’s Life Sciences Innovation Accelerator, MTPConnect welcomes the Medical Science Co-investment Plan released today by the Hon Ed Husic MP, Minister for Industry and Science and the Hon Mark Butler, Minister for Health and Aged Care.
As the first of seven plans delivered across the National Reconstruction Fund’s priority investment areas, it highlights the importance of medical products in driving Australia’s economic transformation.
MTPConnect CEO, Stuart Dignam, says the co-investment plan identifies a range of high-value life science investment opportunities.
“Our researchers, start-ups and SMEs are working hard to turn their discoveries into home-grown and life-saving new medical products,” Mr Dignam says.
“From vaccines and medical devices to advanced therapeutics and clinical trials expertise, Australia’s life science innovators can match it with the best in the world.
“One of the key challenges has been finding the capital needed to support the development of our innovations to take them from bench to bedside to deliver patient impact, and this is where the co-investment plan will help.
“It was great to join colleagues on the industry working group which helped steer the focus of the plan and I’m delighted to see the emphasis given to workforce development strategies so our life sciences sector has the skills, capability and capacity to thrive.
“The NRF and the Industry Growth Program, and the focus provided by the medical science co-investment plan, will be important contributors to the growth of Australia’s life sciences sector and we look forward to working with Ministers Husic and Butler, and their departments to support the actions outlined in this plan.”