Parliament hosts Medtech ‘speed networking’ event

23 September 2016

Medtech networking

The Stranger’s Dining Room at NSW Parliament House was an appropriately named venue this week for Medtech Pitch@Parliament, a speed networking event bringing together Australia’s brightest students with medical technology (medtech) startups and multinational companies to uncover and inject the next wave of talent for the sector.

In collaboration with the Medical Technology Knowledge Hub and online student-employer matching platform, RIBIT, the NSW Government turned matchmaker in a first-of-its-kind event that aims to address potential skills shortages in the medtech sector.

Medtech companies big and small, from multinational Johnson & Johnson to burgeoning startup Saluda Medical, met with more than 110 students, including 25 PhDs, from an array of disciplines covering biomedical science, engineering, life sciences, commerce and law.

The exercise was a practical way of addressing the sector’s looming skills gap. According to a Medical Technology Workforce and Skills report released by the Medtech Knowledge Hub earlier this year, the skills gap in the NSW medtech sector is expected to widen from 3% to 26% in just five years.

Such a gap has the potential to stifle growth in an industry that is both economically and socially significant for the state, an industry that helps to improve people’s lives through the earlier detection of disease, through more efficient monitoring of patients and more effective treatment options.

Medtech in NSW

NSW is home to more than 55% of Australia’s medical technology companies and about 75% of the headquarters of multinational pharmaceutical companies.

Medtech is a vital growth industry for NSW, making significant contributions to the economy, to jobs creation and boosting the State’s position as a leader in innovation.

NSW has produced some great global medtech success stories, including ResMed, Cochlear and Sirtex with more medtech companies starting to make their mark.