Medical Technologies and Pharmaceuticals Industry Growth Centre CHAIR: Dr Bronwyn Evans Presentation Pack June 2015

CONTEXT Context WHY Growth Centres WHAT Consultation WHO Next Steps HOW

Industry Innovation & Competitiveness Agenda Ambitions Actions Establish Industry Growth Centres Improve the tax treatment of Employee Share Schemes Boost commercial returns from research Crowd sourced equity framework Small business engagement principles Establish Industry Growth Centres Improve the tax treatment of Employee Share Schemes Boost commercial returns from research Crowd sourced equity framework Small business engagement principles A lower cost business friendly environment A more skilled labour force Better Economic infrastructure

Australia has challenges Rates poorly in regards to overall competitiveness 23 / 26 OECD countries for businesses collaborating on innovation 30 / 30 OECD nations for business – research collaborations 81 /143 countries on effectiveness of getting returns from research Why a Reform Agenda

THE IGC

A non profit business - small & experienced management team - shared back offices Industry Growth Centre structure Governed by strategic industry–led 5 member Board - develop and implement a competitiveness agenda Advisory Committee - external advice to the Minister Operational funding of $3.5m/ year for basic activities and services Funding for 4 years - then expected to be self-sufficient Will engage with the sector - establish a national network

Innovation Ecosystem

CONSULTATION

Increase collaboration leading to commercialisation of new products Enhance management & workforce skills Identify opportunities to reduce regulatory burden Improve capabilities to engage with international markets & global supply chains Consultation Themes

Consultation – Breakdown by Sector

Consultation – Breakdown by State 8% (67% Companies) 12% (52% Companies) 12% (33% Companies) 17% (48% Companies) 38% (37% Companies) 14% Webinars – location not identified

Consultation Outcomes BARRIERS Time from idea to commercialisation Funding Regulatory process Cultural challenges ISSUES IGC membership model Leverage past reviews Multiple agencies, federal and state Very diverse sector ACTIONS Regulatory Reform Collaborate/ consolidate Reduce silos Financial incentives Skills and silos

Global Global Partners National Regulators State State Initiatives Regional Hospitals & precincts Local Research Consumer Link & Align – From Global to Individual

Thank you