Western Australia is fast becoming a global hub for health and medical life sciences with our proximity to the growing ASEAN market and strong health leadership.
Our health and medical life sciences industry is rapidly growing. In five years, from 2017 to 2021, it has more than doubled, growing from 119 companies to 244. The industry now employs almost 24,000 employees across biotechnology and pharmaceutical, medtech and digital health, research institutions and sector support organisations.
The Western Australian Government is committed to the state’s burgeoning life sciences sector. In June 2020, we initiated our State’s most ambitious endeavour to support growth in this industry, by creating the Future Health Research and Innovation (FHRI) Fund, which is now valued at $1.7 billion.
The FHRI Fund provides a secure source of funding to drive health and medical research, innovation and commercialisation, and through these activities, improve the health and prosperity of all Western Australians.
To complement the FHRI Fund, in October 2021, we launched the State’s first-ever Health and Medical Life Sciences Industry Strategy.
A further $8.7 million is being invested to implement the strategy.
The sector is further supported by the WA Life Sciences Innovation Hub, which was set up in collaboration with MTPConnect, the Western Australian Government and The University of Western Australia, to help accelerate new MedTech businesses.
Find out more at Department of Jobs, Tourism, Science and Innovation website.