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2012-2013 Expenditure stats

Total claimed: $788.3M
Statistics sourced from InnovationAustralia Annual R&D Tax Incentive Report 2013-14

About this sector

This industry often offers unique applications in a high-risk environment that is constantly changing on the basis of developing new technologies for improved health. Development of new medical technologies can be a long process, where it is essential to conduct many clinical studies before entering the marketplace. . Testing must be documented with desktop research, lab trials, emails, results and external research validation.

Examples of what could be claimed

  • Extraction of a new compound or active ingredient
  • Toxicology and safety testing
  • Biological screening and pharmacological testing
  • Integrated biotech hardware and software
  • New pharmaceutical formulation or dosage form

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