Updated on 10 June 2013
We have also established a series of MoUs with international partners, produced annual hardcopy of directories of members and services, produced monthly newsletters and circulated them to around 5,000 subscribers, led tender bids for contracts, appointed international ambassadors and hosted industry events, including breakfasts, annual awards night, and hosts of TRX and TABBS conferences.
What are the major industry-related policy developments that have taken place in the past year your country?
R&D Tax credits and a review of the Health and Medical Research sector are important policy-related developments that have taken place. We have worked with our members and have provided input into these areas, because our members have indicated that these were important for them. We have ongoing policy development activities with the State Government, which is important for our members as with any new government. The government have set about a process of reviewing all activities in order to try to achieve outcomes in a more cost effective and timely manner and we need to ensure that those things that are seen as critical by our members are enhanced.
What is the number of MNCs and domestic companies in the industry? How many new domestic companies have been formed in the last two years?
Our membership contains mainly SMEs and to the great extent they are Australian firms. We have a few MNCs (pharma, medical devices, diagnostics or manufacturing) and during the lifetime of our organization, we have recruited half a dozen ‘newly established' entities.
What are the major challenges faced by the industry and how is the association helping the industry to deal with the hurdles?
The ongoing financial uncertainties make capital harder to get. However, we assist members by creating opportunities for them to be introduced to sources of capital.
What is the plan of action of the association for the next two years?
We have established a strong trajectory to engage more widely in terms of domestics activities and with the pivot to Asia. We plan to be much more active in a number of Asian markets.