New funding to assist Australian MTP companies realise commercial opportunities in Asia
(Melbourne, 16 October 2018) We are excited to announce a new partnership with Australia's Industry Growth Centre for medtech and pharma, MTPConnect, to assist Australian MTP companies to enter and expand in new Asian markets.
As part of the partnership, two new industry guides will be developed, focussed on ‘Digital Health in Indonesia’ and ‘Frugal Innovation in Medical Devices and Technologies in India.’ Asialink Business will also assess the current levels of Asia-capability of boards and senior executives of ASX-listed health care equipment and services companies as a part of this comprehensive project.
MTPConnect CEO Dr Dan Grant announced the funding earlier this month, highlighting it reflected "increased collaboration between research and industry, a focus on achieving commercial outcomes and building the capacity of Australia’s health tech community to take its ideas and products to the world.”
“Collaboration across disciplines, between researchers and industry, and across the states and territories, is a key driver of success for the MTP sector.
“It’s also vital that we build the capacity of Australian MTP companies to engage with international markets to better access global supply chains and position Australia as a preferred international partner,” Dr Grant said.
With Australia’s combined MTP sector manufacturing exports increasing to $5.2 billion, this newly announced partnership, is an important step towards growing Australia’s future competitiveness in this significant industry in Asia.
Asialink Business CEO, Mukund Narayanamurti said:
"The industry guides that Asialink Business is producing with funding support from MTPConnect will be an invaluable resource for globally-minded Australian MTP companies.
"By providing country and sector specific information, Australian MTP companies can better inform and facilitate their Asia expansion and in-country planning.
"Separately, assessing the Asia-capabilities of ASX listed MTP companies will more effectively enable bridging the gap between strategy and execution for these companies in the future in Asia,” Mr Narayanamurti said.
Other recipients of the funding included the Industry Mentoring Network in STEM (IMNIS) and the Medical Device Partnering Program (MDPP). Read the full MTPConnect media release here