MTPConnect welcomes plan to secure growth through innovation

01 February 2018

MTPConnect welcomes the ‘Australia 2030: Prosperity through Innovation’ (the 2030 Plan) – a strategic vision and plan delivered by the Innovation and Science Australia board to strengthen Australia's innovation performance and become a leading innovation nation.

Through five core imperatives for action, the plan aims to benefit Australians through: strong economic growth; competitive industries and collaboration education and research; plentiful jobs; and high quality of life.

A ‘National Mission’ focusing on using genomics and precision has been recommended as a large-scale initiative to address ‘audacious challenges’; to inspire innovators, develop solutions to big problems, and generate national passion and pride in innovation and science achievements.

Chair of the Innovation and Science Australia (ISA) Board, Mr Bill Ferris said: “ISA recommends that Australia seek to become the healthiest nation on earth through the integration of genomics and precision medicine capabilities into the Australian health system; such a National Mission would eventually be of extraordinary benefit to all Australians.”

With the establishment of an Industry Growth Centre – MTPConnect – the Australian Government has acknowledged the medical technology, biotechnology and pharmaceutical (MTP) sector as a leader at the forefront of driving innovation and securing a healthy future for both the Australian economy and population.

MTPConnect CEO Sue MacLeman commended the plan’s vision and acknowledgement of the role of the Australian MTP sector in Australia’s prosperous and health future.

“The 2030 Plan provides the strategic vision and direction that Australia needs to continue on our path of growth. Its clear directives are in line with MTPConnect’s 10-year Sector Competitiveness Plan. A ‘National Mission’ focusing on genomics and precision medicine will further support targeted growth in areas of unmet clinical need in which Australia has the capabilities to be a world leader, in line the megatrends and knowledge priorities identified for growth in MTPConnect’s 10-year plan.

“As Mr Ferris acknowledges, we have a way to go. There are skills gaps that need addressing, and we need to strengthen our record of commercialisation and industry-research collaboration. MTPConnect’s activities to date in regulatory reform, development of precincts, transferable skills training packages, industry-research collaboration, and support from pre-clinical and clinical stages of development to drive commercialisation, are already set to have significant impact in line with the 2030 Plan.

“We are excited to continue our close collaboration with Innovation and Science Australia, the Department of Industry, Innovation and Science, and the Australian MTP sector to delve further into delivering on actions that will drive Australia’s place as a world leader in innovation.

The 2030 Plan delivers 30 recommendations to the Australian Government, including:

  • A focus on education and skills - with STEM and discipline-specific training for teachers, as well as a review of the Vocational Education and Training (VET) system with ongoing reform and industry consultation to drive training in high-growth sectors and skill shortage areas.
  • Increased funding for export market development grants
  • Creation of a more flexible regulatory environment that fosters innovation by encouraging collaboration between all levels of government
  • Introduce a tax offset of up to 20 per cent to incentivise collaboration
  • Increase commercialisation capability in research organisations by establishing a new stream of funding for translational activities
  • Develop and release an Australian Innovation Precincts Statement to shape Australian Government involvement in emerging localised innovation ecosystems in cities and regions
  • Establish secure, long-term funding for national research infrastructure
  • Maintain a long-term policy commitment to achieve greater gender diversity in STEM

Download the 2030 Plan from the Department of Industry, Innovation and Science website: