The biomedical sector is increasingly playing a major role on the national and international stage. The pace of change across the healthcare system, coupled with the world’s aging population expecting a higher standard of living and longer life expectancy, means healthcare has to become more patient focused (even against a background of financial constraint). These challenging conditions do however provide opportunities for the design, development and delivery of innovative healthcare products by the biomedical industry.
The biomedical industry is at an early stage of growth in the Wellington region. There are companies based in the region, some already selling in international markets, but the number is small. However, there is an abundance of science oriented companies, research and clinical expertise across the region. There are some 2,000 science-based researchers (equating to one research scientist for every 250 residents) dedicated to increasing the region’s knowledge base and, in many cases, the creation of Intellectual Property.
Clinicians across the region make other important contributions through their own clinical practice as well as their understanding of the needs of healthcare systems for new products, processes and form of delivery.
Grow Wellington has been working on a fresh approach to the development of the region’s Biomedical Centre of Excellence. As a part of this process extensive engagement has been made with key organisations across the region – DHBs (District Health Boards), tertiary institutes, CRIs (Crown Research Institutes) and research bodies, along with companies in the biomedical and biotechnology sector.
A stronger focus on the practical applications of research and the healthcare sciences, along with connecting researchers and clinicians with entrepreneurs and sources of funding, will form the basis for our refreshed approach to the region’s Biomedical Centre of Excellence.
The first step for the fresh approach will be through our ‘Innovating for Health’ Challenge, which will run from December 2011 to July 2012. The Challenge and the contribution it will make to the growth of an industry ecosystem in the region’s biomedical sector is integral to Grow Wellington’s strategic focus. Details of the Challenge can be found here.
In addition, Grow Wellington will continue to work closely with key stakeholders in support of a Wellington-based arm of the new National Health Innovation Hub.