Victoria’s Future Industries: Medical Technologies & Pharmaceuticals – Response to the Discussion Paper

This submission responds to the Victorian Government’s Medical Technologies and Pharmaceuticals Discussion Paper, part of its Future Industries strategy work, answering selected consultation questions. Research Australia welcomes the parallel development of strategies for the medtech and pharmaceuticals sector and for health and medical research, and maintains the two should be complementary. It suggests automotive component manufacturers, with clean room facilities and supply-chain experience, could transition into medical technologies, citing Re-Time and SRX Global, with support built around the Advanced Manufacturing Industry Growth Centre in Geelong. It supports the proposed Australian Innovation and Manufacturing (AIM) Incentive, modelled on the UK patent box, and proposes the Victorian Government apply the same principle through payroll tax relief. Other recommendations include continued funding for the Victorian Platform Technologies Network, programs that complement the Commonwealth Industry Growth Centres, extending Victoria’s academic health science centres to engage industry, a target date for replacing all paper health records in the public health system with digital records, more places in commercialisation training programs, and engaging the six Victorian Cooperative Research Centres (CRCs) with pharmaceutical or device programs. It also recommends stable Research and Development (R&D) tax incentive settings, vouchers for small companies to access infrastructure, more research infrastructure and trial support in the health system, and use of government procurement along the lines of the US Small Business Innovation Research Program.