Health to the United States of America

Program dates

March to June 2024

Key event

Bio International ConventionExternal Link, 3-6 June 2024, San Diego

In-person attendance at the event is required. The Going Global Export Program will cover the cost of a single conference registration. Participants are required to fund their travel, accommodation, incidentals, and conference registrations for additional attendees.

Why this market

The USA is a leading market for life sciences innovation. It holds the greatest number of patents in biotechnology worldwide, and accounts for 20% of global pharmaceutical production.

Consumer demand for health solutions is high in the USA. The USA spends twice as much on health per person than other OCED countries and the digital health market in the USA alone is expected to reach US$600 billion by 2040.

An ageing population, presence of chronic disease, and high medical costs will continue to drive demand for health innovation in the USA.

The Bio International Convention is among the world’s largest life sciences conferences, bringing together global health companies and leaders for a week in San Diego.

Curriculum

Introductory sessions 

• Welcome webinar – around Monday 4 March 2024
• Access to 13 self-serve factsheets developed by the Export Council of Australia exclusively for Going Global participants
• Access to Intellectual Property protection briefings from IP Australia

Market intelligence briefings and cultural training 

• Overview on USA health ecosystem and doing business in the USA (webinar)
• Regulatory overview and USA expansion (webinar)
• Pitch coaching (webinar)
• Capital raising in the USA (webinar)

Potential partner search and introductions

• In-person pre-departure briefing and networking, Sydney
• In-person participation at Bio International Conference, San Diego – with in-market assistance and logistical support from Investment NSW
• Identification of potential partners
• Targeted business matching and in-market networking opportunities

Ongoing advice and follow up

• Ongoing support provided by a dedicated NSW Government Export Adviser.

note: the curriculum is subject to change

Number of hours you'll invest in sessions prior to travelling in-market

Approximately 6 hours, not counting optional offerings or work your business may need to do outside of sessions.

Participation requirements and success factors

Eligibility for the overall Program

• Have headquarters in NSW
• Have a valid Australian Business Number (ABN) registered for NSW 
• Be export-capable and export-ready 
• Have an employee number between 5 and 199 full-time equivalent (FTE) employees 
• The product or service must be produced primarily in NSW
• The product or service is achieving sales already
• Have a website featuring the product or service
• Be prepared to adapt the product or service for the new market
• Be flexible regarding market-entry method
• Have resources to support marketing and development for a new market
• Be willing to travel to the selected market and/or to Sydney for events, and must cover own travel expenses

Note: this program is designed for NSW businesses who produce and own their own brand. This program is not for aggregators, traders, or businesses who sell services to exporters.

Additional eligibility requirements for this stream

Applicants should be able to demonstrate:

• Funding or revenue to support USA market expansion
• Clear pathway to profitability or already a profitable business with a clearly articulated regulatory pathway and reimbursement plan
• Have already identified potential customers and partners in the USA and/or already have some market traction
• Clinically validated (if product is subject to trial) or will be in the next 12-18 months
• Commitment to establish business partnership/s in the USA in the next 12-18 months
• Be up to date with reporting of outcomes derived from previous Investment NSW support (please contact [email protected] if you need to update your reporting).

The ideal participant 

• Has a compelling proposition for the USA market
• Has already checked the product fit for the USA market
• May already have some enquiries/leads in the USA market
• Has global business experience
• Ideal product categories:
  • BioTech
  • Pharma
  • MedTech
  • Digital Health

Businesses not eligible for this stream

• Local Health Districts

Applicants who have not previously participated in a Going Global Program to the United States will be given priority to participate in this stream.

Note: Local Health Districts are invited to attend BIO International Convention as a NSW in-person delegate and be showcased in NSW's conference promotional material. If you want to attend BIO International Convention as one of these delegates, please contact [email protected]. You will be responsible for your own conference registration costs.

Apply

Applications closed on Sunday 28 January 2024.

Applicants will be notified of the outcome around mid-February 2024.

Note: Apply for your preferred market - you can apply for and participate in only 1 stream.