Top tech leaders in Australia and the United States will work to promote revolutionary technology in healthcare with the launch of a transnational innovation alliance announced by the Federal Government this week.

A new Australian Advisory on Technology and Healthcare Competitiveness has been established to partner with the US Council on Competitiveness in improving engagement between the nations’ businesses, universities and research institutions in the development of pioneering health tech.

Jointly announced by Health Minister Greg Hunt and Minister for Jobs and Innovation Michaelia Cash, the alliance will boost collaboration in health technologies, cybersecurity and artificial intelligence.

Led by pro bono co-chairs Charles Kiefel, Distinguished Fellow of the Global Federation of Competitiveness Councils, Dr Larry Marshall, the Chief Executive Officer of CSIRO and Dr Jane Wilson, Sonic Healthcare’s Director, the advisory board will establish an Australia-US Chief Technology Officer Dialogue to kick off the alliance.

“The potential to revolutionise healthcare for Australians through this partnership is exciting. It also joins our commitment to medical research and the development of new and innovative treatments that can make a real difference to Australians,” the government said in a statement.

Cooperation generated by the alliance will encourage Australian entrepreneurship and increase competitiveness of products in the giant US market.

“It is part of the government’s commitment to empower both Australians and Australian businesses to benefit from the many opportunities innovation and technology provides.”

Beyond the life and death implications, according to MTPConnect the number of jobs supported by the medical technology, biotechnology and pharmaceutical industry sector increased by 10 per cent to 62,000 from 2015 to 2016, and manufacturing exports increased by 30 per cent to $5.2 billion.

The staggering growth spurt of what is the 10th largest export category for Australia, led to 27,000 publications in 2016, 242 patents lodged and R&D investments totalling $1.4 billion.

 

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