AUSTRADE ASSISTANCE FOR EXPORT AND INVESTMENT IN AUSTRALIAN MEDTECH – By Shelley Jackson

[vc_row][vc_column][vc_column_text]Austrade is the federal government agency responsible for trade and investment promotion, and we have a particular focus on promoting Australian health and medtech industry capabilities to international customers, key opinion leaders and investors. As we talk to these people we hear that Australia’s strong economic position – our economy is in its 28th year of consecutive annual economic growth[i] – is a powerful driver of local growth and an incentive for investment.  Australia is also one of the largest healthcare markets in the Asia-Pacific region, with an ageing and affluent population.

Austrade has staff in around 80 international offices, so we know that while our medical devices and diagnostics are globally regarded, this is a fast-paced and competitive industry. Whether you’re an Australian company ready to internationalise your business or an international company looking for productive foreign direct investment opportunities within Australia, Austrade can assist.

For Australian export-ready companies, Austrade has a range of information tools and customised services to help you do business overseas and understand foreign regulations and business practices. With experienced local staff in offices around the world, we can provide market information and insights, and facilitate connections through our extensive global network.

For international companies, we provide the contacts and information (in partnership with State and Territory governments and allies) to establish or expand your business successfully in Australia, and have assisted companies such as Fresenius Kabi Australia to build their investment presence here.

Support for exporters to go global

Austrade is focussed on helping Australia’s innovators access international market opportunities by linking Australia and Australian entrepreneurs with innovation ecosystems, or niche centres of excellence, around the world.  This includes the Bio-Bridge Initiative, a partnership between Australia and the Texas Medical Centre (TMC) in Houston, USA that fosters a two way flow of capital and resources, through collaborations in research, clinical trials and commercialisation.

Another example is the Landing Pads program, which provides market-ready startups and scaleups with the opportunity to land and expand in global innovation hubs. In San Francisco, Tel Aviv, Shanghai, Berlin and Singapore participants have access to:

  • a 90-day residency in a co-working space
  • introductions to networks of investors, mentors and strategic partners
  • access to a community that supports Australian entrepreneurs
  • business advice to help grow their business.

For detail on Landing Pads and how to apply visit https://www.austrade.gov.au/landingpads/landing-pads

The Export Market Development Grants (EMDG) scheme is a key Australian Government financial assistance program for aspiring and current exporters. Administered by Austrade, the EMDG scheme:

  • encourages small and medium-sized Australian businesses to develop export markets
  • reimburses up to 50 per cent of eligible export promotion expenses above $5,000 provided that the total expenses are at least $15,000
  • provides up to eight grants to each eligible applicant.

For detail on the EMDG scheme and how to apply visit https://www.austrade.gov.au/Australian/Export/Export-Grants/About/what-is-emdg

Please contact our International Health team in Australia for export and investment assistance.
Tel: 13 28 78. Email: info@austrade.gov.au.

Our website also provides further information, such as specific export market information https://www.austrade.gov.au/Australian/Export/Export-markets/Countries[/vc_column_text][vc_separator][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]

[1] Worldwide Medical Devices Market Factbook, p. 4, Fitch Solutions Macro Research, 2019.

[1] Australia Medical Devices Report, Q1 2019, Fitch Solutions Macro Research, United Kingdom, 2018.

[1] Why Australia Benchmark Report 2019 https://www.austrade.gov.au/International/Invest/Resources/Benchmark-Report

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