About health and life sciences in NSW
As the nation's largest state economy, NSW is home to 55% of life sciences companies in Australia and hosts the largest number of health and life sciences companies. These range from large multinationals such as Cochlear, Johnson & Johnson, Novartis and Astra Zeneca, to homegrown success stories such as SpeedX and Vitex Pharmaceuticals.
The NSW public health care system offers world-class care to our 8 million citizens through 228 public hospitals and ranks 3rd as the most efficient healthcare system in the world.
NSW Government has committed to annual operating budget of AU$33.5 billion (2022-23 budget) for Health, including $2.8 billion for capital works to continue building and redeveloping hospitals and health facilities, delivering improved health outcomes for NSW families and communities.
Boasting 2 universities in the world’s top 20, the University of Sydney and the University of New South Wales (UNSW), NSW offers an ongoing pipeline of talent and research output, spurring the next wave of innovation.
Australia is ranked 9th in the world for life sciences research and government research and development tax incentives for eligible companies make early-phase clinical trials up to 60% cheaper to run in Australia than the US.
NSW is investing in Health Precincts to deliver health research, education and innovation. Health Precincts are agglomerations of tertiary referral hospitals, laboratories, medical research institutions, universities, industry and innovation spaces. They train the future workforce, generate employment, inspire innovation, foster collaboration between businesses of all sizes and create investment opportunities.
Major Health Precincts are located in Sydney, Westmead, Randwick, Macquarie Park, Liverpool, St Leonards and Darlinghurst, along with regional areas such as Newcastle, Wollongong and beyond.
Working with business to promote growth
The NSW Government is targeting investment to grow the health and life sciences industry, through projects such as Sydney’s AU$96 million RNA pilot manufacturing centre (based at Macquarie Park), and AU$134 million to support the first GMP-grade clinical and commercial viral vector manufacturing facility in Westmead.
The Sydney Biomedical Accelerator (due for completion by 2027) is a collaboration between the University of Sydney, the Sydney Local Health District, and several other partners, including industry and philanthropic organisations. This world-class facility will provide industry an opportunity to collaborate with key researchers in the fields of cancer, cardiovascular disease, infectious diseases and immunity, and neuroscience and mental health.
The Medical Devices Fund is an ongoing $8 million per year, competitive technology development and commercialisation program for new-to-world medical devices. The program is funded by NSW Health and administered by the Office for Health and Medical Research (OHMR).
NSW is looking for industry partnerships and investment opportunities across a broad range of arears including:
- medical devices (including laboratory diagnostics),
- digital health,
- advanced manufacturing (including genomic medicine and phage therapies)
- and clinical trials.
Investment NSW works closely with NSW Health and industry to commercial opportunities in these fields.
With business, hospitals, universities, clinics and research institutes collaborating across multiple dedicated locations, NSW is leading the way to a healthier future for everyone.
Supporting your move to NSW
Investment NSW can connect you with a range of services and incentives available to businesses looking to grow.
Investment NSW offers bespoke services to businesses looking to build a presence within NSW.
The team at Investment NSW provides tailored advice on grants, rebates, programs and other incentives your business may be eligible for.
Whether you need a high-tech lab, an advanced manufacturing facility connected to a university or a greenfield site in regional NSW, we can assist.
We can work with you to establish a presence in a precinct or collaboration area suited to your needs.
We provide services to help you find the right accommodation:
- determining the type of accommodation to best meet your businesses requirements
- advice and support regarding opportunities available on Government land (both long and short term)
- support navigating the planning process
We can provide tailored information and data, including local market insights, on our focus areas.
We can introduce you to stakeholders who can support your growth objectives. This may include connecting you to:
- corporate partners
- business chambers
- industry associations
- technology precincts
- research institutes
- government agencies
We offer curated introductions to help you identify local partners, distributors, industry stakeholders and service providers.
Once you have established here, a wide range of services and programs are available to use NSW as a springboard into Asia and the world. We can help you identify opportunities to expand in the region.
Our Business & Skilled Migration Program is highly supportive of NSW’s growing tech industries and precincts. The program attracts new and emerging digital technology capabilities and skills, provides visa and migration advice to businesses, and nominates high potential migration candidates to live and work in NSW.
These initiatives have spurred the growth of digital technology businesses across the state and are available to all organisations considering investment opportunities in NSW.
Contact us
Contact Investment NSW to start making your opportunities happen in NSW.
Our dedicated team offer free, confidential and personalised support to businesses who want to grow their business in NSW.