ADIA applauds budget commitment to medical industry growth

medical industry growth
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The Australian Dental Industry Association earlier this month welcomed the Government’s commitment in the 2018 Australian Government budget to supporting the National Health and Medical Industry Growth Plan.

“ADIA members include those businesses that undertake research into new medical technologies that, in time, will increase the number of people involved in taking to market the new products that will empower dental professionals to advance the oral health of all Australians,” ADIA CEO Troy Williams said.

The 2018 Australian budget includes $22.3 million over the next five years to target innovative ideas from the research pipeline to proof-of-concept, translation and commercialisation.

“This is a welcome signal by the Australian Government about its commitment to supporting those businesses that take the bold step to invest in the next generation of dental products,” Williams said.

The $32 million industry research and exchange training program will foster cooperation between industry and the tertiary education sector. Researchers will be supported to work with businesses to benefit career progression to increase focus on patient needs, entrepreneurialism and the commercialisation of research.

“Through this initiative the Australian Government has realised that groundbreaking medical technologies have an important role to play in the future delivery of dental and oral health care. This investment will reduce the financial barriers that make it difficult to transform innovative ideals into viable technologies,” Williams said.

Between FY2017-18 to FY2021-22 this initiative will cost $94.3 million and will be financed through the Medical Research Future Fund.

Based on a media release sourced from the ADIA website.

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