Bronwyn Le Grice, Managing Director and CEO of ANDHealth, says "As Australia’s only organisation specialised in the acceleration of commercialisation in digital health technologies, we welcome this significant investment in commercialisation of digital technologies, priority industry sectors and research, development and innovation growth sectors.
"Australia has an unprecedented opportunity to develop an internationally competitive digital health industry that will create jobs, generate revenue and investment, remove burden from our healthcare system, and improve the health of our people. These initiatives from the NSW and Queensland Governments will have positive benefits for Australia’s rapidly maturing digital health sector.
"ANDHealth, its Board and its Members, alongside our many partners and stakeholders, look forward to continuing to work in a proactive and constructive manner to assist and support the NSW and Queensland Governments as they look to implement and add to these initiatives."
NSW STATE BUDGET INITIATIVES 2022 - 2023
$703.4 million investment in the Future Economy Fund which includes the following:
- $342.4 million to boost support for the commercialisation of products, services and emerging digital technologies in fields that will grow the economy and provide targeted support to research institutions, start-ups, scale-ups and small-to-medium enterprise sectors in New South Wales
- $219 million to accelerate growth and investment in priority industry sectors, such as modern manufacturing, medtech, defence and aerospace, to deliver significant benefits to the economy, including by building local capability, securing high-value jobs and boosting productivity
- $142 million of dedicated funding to drive research and development and innovation growth in sectors in which New South Wales has a natural competitive advantage, such as quantum computing, and advance collaboration with universities, the CSIRO and the private sector.
Other initiatives announced in the 2022 - 2023 NSW budget that will benefit the sector include:
- $12 million to establish the Carla Zampatti Fund (a women’s venture capital fund) to support female entrepreneurs and small business owners, including $10 million for the Fund and $2 million for establishment and operation
- $261.9 million towards the establishment of the Advanced Manufacturing Research Facility at the heart of Bradfield City Centre, which ensures Western Sydney will continue to be the heart of Australia’s high-tech manufacturing capability
- $150 million for the Biomedical Accelerator Complex in Camperdown. The Accelerator will be a state-of-the-art biomedical research complex offering a unique global concentration of biomedical research talent, enabling researchers and industry collaborators to work together on solving critical health challenges.
QUEENSLAND STATE BUDGET INITIATIVES 2022 - 2023
- $3.34 billion investment in Queensland Jobs Fund that will capture future opportunities in traditional and emerging industries, and includes $350 million for an ‘Industry Partnership Program’ that will grow and create jobs across priority industry sectors, including biomedicines
- $50 million over two years to continue the Made in Queensland and Manufacturing Hubs Grant programmes that will support small and medium-sized manufacturers to increase their international competitiveness and build advanced manufacturing capability in Queensland’s regions.