Health to the United States of America

Program dates

February to June 2023

Key event

Bio International ConventionExternal Link, 5-8 June 2023 in Boston.

In-person attendance at the event is required.

Why this market

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

Consumer demand for health solutions is also high in the USA. The US spends twice as much on health per person as other OCED countries and the digital health market alone in the US 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 US.

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

Curriculum

Introductory session

• Welcome session – around 16 February 2023

Market intelligence and cultural training

• Overview on USA health ecosystem and doing business in the USA
• Opportunities to hear from experts in the USA
• Pitch coaching 

Potential partner search and introductions

• In-person participation at BIO International Conference – with In-market assistance and logistical support from Investment NSW
• Identification of potential partners
• Targeted business matching and networking opportunities

Ongoing advice and follow up

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

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 (where and when travel is permitted) 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

• Funding or generating revenue to support USA market expansion
• Clear pathway to profitability or already a profitable business – have 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 setting up in the USA in the next 12-18 months

The ideal participant

• Has a compelling proposition for the US market
• Has already checked the product fit for USA market
• May have an employee already in the USA
• 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
• Previous Going Global Program participants to the 'United States of America'

How to apply

Applications closed on 22 January 2023.

Applicants will be notified of the outcome around 8 February 2023.

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