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Guests at the Innovation Series lunch held in Brisbane this week were given a true insight into the diverse motivations, complexity and variety of organisations and individuals involved in turning an idea into a commercial solution or product.

The event – 'Eco-innovations: Sustaining industry and the environment' – touched on possibly the biggest question facing us; how do we continue to grow both in terms of population and economies, without destroying the planet. The responses were varied and illuminating.

Representing the global business approach at the customer end of the value chain was Boeing’s Research and Technology GM Dr Bill Lyons, who outlined the aviation giant’s partnering approach to developing a viable biofuel blend.

He said Boeing and Airbus would both be making major announcements in the next 12 months regarding their work to become CO2 neutral by 2018 and a major part of this was second and third generation biofuels, which do not compete with food crops.

“The supply chain needs to mature and Boeing is working on plugging the gaps,” Dr Lyons said. Boeing is taking a regional approach by working with partners to investigate the feasibility of fuel blends produced from camelina, jatropha, halophytes and algae in different geographies. Of these crops, Mr Lyons said only algae could be classed as third generation, as it wouldn’t compete for land or water, but it was still six years away from being produced on a major scale.“We expect to have demonstrated the viability and have certification of a 50% biofuel blend by the end of 2010,” Mr Lyons said.

MBD Energy Limited’s Managing Director, Andrew Lawson spoke about his company’s partnership with James Cook University’s algal research team to use CO2 as a resource rather than a waste product by turning it into fuel and cattle feed.The test facility they are developing will be capable of producing 14,000 litres of oil and 25,000kg of algal meal for every 100 tonnes of CO2 consumed.

“This project has the potential to sequester 50% of power station CO2 emissions and to produce large volumes of sustainable oil and meal,” he said.MBD plans to roll out a 1ha display project at three of Australia’s largest coal-fired power stations: Brisbane’s Tarong power station, Loy Yang Power in Victoria and Eraring Energy in NSW, from February next year.

The project will then be scaled up in 2012 to 80ha, abating 70,000 tonnes of CO2 producing 11.8 million litres algae oil and 25,000 tonnes of stock feed, resulting in an estimated $15-20 million of revenue per annum.“Fuel, food and energy security are the top priorities for the USA, China, India and Brazil and they are charging down this path,” Mr Lawson said. But he said MBD’s project was not recognised by the Federal Government’s currently ‘on-hold’ Carbon Pollution Reduction Scheme (CPRS).

“$4.5 billion is being focused on costly CO2 reduction strategies in Australia, but the Government doesn’t regard our technology as real,” Mr Lawson said. ”In the future we should be able to create jobs in Queensland, produce enough fuel to supply 25% of the State’s diesel needs and make a big dent in its food imports.

”The final speaker - ecologist and inventor Dean Cameron - explained how he was inspired by a colony of fruit bats to design the Biolytix sewage treatment system. “The colony was above a swampy area but less than 400 metres downstream, the water in the river was crystal clear,” Mr Cameron said.“I realised the filtration was not happening as part of the aquatic system, which was the conventional thinking, but rather through a complex, soil-based eco-system.

”The Biolytix systems copies the river bed, with layers of peaty soil, worms, and at a microbial levelto create a product that treats waste onsite using less than 10% of the electricity of conventional systems - effectively an entire ecosystem in a tank. The company is currently targeting households off the sewerage grid and treating black water for use in irrigation. The technology also has the potential be up-scaled and used in conventional water grids.

All three speakers rejected the need for genetic engineering when quizzed by an audience member, agreeing that nature was a good provider, offering enough opportunities and keeping a good balance.Dean Cameron took this idea one step further by suggesting biomimicry could be the basis on which industry tackled the challenges ahead.“The concept of competition is a misinterpretation of Darwinism,” Mr Cameron said.
“Nature shows us the success of symbiotic relationships and we can see the challenges ahead are too big for us to continue to take a proprietary approach.“We have to share knowledge to survive.”

Source: Innovation Series Article, July 2010

Business leaders were treated to a fascinating insight into the world trends driving innovation and future business opportunities for Australia at the ‘Material Science Technologies – Improving Business Performance’ Innovation Series luncheon in Sydney on the 23^rd June 2010. The event was hosted by Zernike Australia in partnership with the Australia Institute for Commercialisation.

Head of the Institute of Materials Engineering at ANSTO (Australian Nuclear Science and Technology Organisation) Professor Lyndon Edwards outlined how material science has transformed work, health and leisure and the challenges and opportunities for the next generation of materials scientists.

Professor Edwards said most modern materials were designed in detail at the atomic level and, while Australia had done well to date, to remain competitive it was critical we continued to invest in top quality research facilities.

Professor Edwards said that Australian businesses could benefit with stronger ties and linkages with knowledge-based organisations - such as cooperative research centres, ANSTO and the CSIRO.

Chief of CSIRO Materials Science and Engineering Dr Calum Drummond, who has a strong interest in the commercialisation of research, presented the key global megatrends and how material science plays a key role.

He said finite resources and space, and a rapidly increasing global population was fuelling the ‘more from less’ imperative, and product lifecycles were shifting from ‘cradle to grave’ to include the need for recycling and waste minimisation.

Dr Drummond said Australia was well positioned in solving some of its national challenges such as limited water and energy resources, and the nation could benefit economically by exporting the resulting technology. He also stated that Australia ’s competitive advantage lay in developing niche, innovative ‘value-add’ products, particularly in preventative health, mining, defence and the ‘green economy’.

International Director of Polymarketing Pty Ltd Michael Turner presented practical strategies to improve business performance and innovation. He stated that waste stream materials could be converted into profitable products through innovation. Mr Turner also discussed opportunities for Australian small to medium sized businesses to work through US-owned companies that can access US Government supply chains.

Attendees at the Innovation Series luncheon in Sydney found the event very informative and stated that the event provided numerous networking opportunities with industry and the research sector.

Source: AIC Newsletter, June 2010

Innovation in sustainability for industry will take the floor in three fascinating presentations at the upcoming Innovation Series luncheon at the Brisbane Hilton on July 19.

Eco-innovation is the focus of the event; showcasing three new technologies that can make better use of Australia's natural resources and reduce man's ecological footprint. The event goes a long way to proving that environmental gains and commercial success can actually work together.

Keynote presenter is Bill Lyons, the general manager of Boeing Research and Technology for Australia. Dr Lyons will present on the challenges faced with the development and commercialisation of sustainable aviation fuel and how the utilisation of low carbon fuels can allow the industry to operate successfully in a low carbon economy.

Andrew Lawson, managing director of MBD Energy, will present on MBD's new technology using algae oil and metal to reduce large scale carbon dioxide emissions that are produced by existing coal and gas fired power stations and other smoke-stack industries such as smelters and refineries.

David Cattell, CEO of the Biolytix Group, will discuss how the use of bio-mimicry in business can change the way Australia approaches water treatment. He will also discuss the challenges facing an innovative business as it pursues a sustainable future.

This Innovation Series event is being presented as part of the Enable2010 week from July 19-28, developed by Brisbane Marketing and Brisbane City Council to promote Brisbane's credentials as a hub of innovation and collaboration.

The Business Acumen and Venture Capital Corporation-sponsored Australian Innovation Exhibition on July 26 and 27 in central Brisbane is also part of Enable 2010.

The Innovation Series is presented by Zernike Australia and Brisbane Technology Park, along with the Australian Institute for Commercialisation in a luncheon series that has helped develop the innovation space since 2004. This event is at The Hilton Brisbane on July 19 from 12noon to 2pm.

Source: Business Acumen Magazine Queensland , June 2010 edition

Enable2010 is a bold new initiative to showcase Brisbane as a centre of world-class innovation and collaboration, with a range of events planned from July 19 to 28.

Culminating with the launch of the Brisbane Innovation Scorecard by Brisbane Lord Mayor Campbell Newman on Wednesday July 28, Enable2010 will celebrate excellence in innovation and challenge industry, education and government to position Brisbane as the epicentre of commercially driven innovation.

Cr Newman said he was dedicated to making Brisbane an innovative, liveable, new world city.

"Brisbane is currently experiencing phenomenal growth that is forecast to continue outstripping other major Australian centers for the next 20 years," Cr Newman said.

"To remain competitive and achieve our vision of becoming a world-class, easy living city, we must embrace continuous learning and remain at the forefront of innovation.

"I encourage everyone to join in Enable2010 and support Brisbane's pursuit for world-class knowledge and innovation."

Brisbane Marketing CEO John Aitken said Brisbane's reputation as a progressive and globally competitive destination has steadily developed and there is growing recognition in the Brisbane business environment that a spirit of collaboration, open innovation, knowledge sharing and a global outlook are critical to business success.

"As the city's economic development agency, Brisbane Marketing seeks to foster a culture of innovation within the Brisbane business community and to highlight the essential role of innovation as a key driver of sustainable growth, productivity and the region's economic prosperity," Mr Aitken said.

"This partnership is essential in keeping Brisbane a prosperous and entrepreneurial city that remains globally focused and continues to attract leading national and international companies to locate, innovate, create and export," he said.

Enable2010 culminates with the launch of the Brisbane Innovation Scorecard, a new initiative which will measure Brisbane's innovation footprint and recognise companies, businesses and individuals committed to excellence in innovation.

The results of the survey, the first of its kind in Australia, will demonstrate Brisbane's achievements in innovation and promote the city as world-class enabler of innovation.

Other key Enable2010 events include the Innovation Series luncheon on the topic of Eco Innovations: Sustaining Industry and the Environment. This is a fascinating series of presentations and panel discussion looking at eco innovations and sustainability, sponsored by Zernike Australia and presented at the Hilton Brisbane on July 19 from noon to 2pm.

There is also a discussion session on the National Broadband Network, Beyond Installation. This timely discussion follows the latest announcements on Australia's National Broadband Network, looking at the possible futures created through an ubiquitous broadband infrastructure. The event is on Thursday, July 22, from 3pm to 5pm.

On July 23 is a luncheon event titled Future Energy - Future Solutions. As Australia moves to a lower carbon economy, leadership in the energy sector is perhaps more important than in any other industry - and this event tackles the issue in its Friday session from noon to 2pm.

The Australian Innovation Exhibition, an allied event sponsored by Venture Capital Corporation and Business Acumen magazine, will feature on Monday and Tuesday, July 26 and 27, at Reddacliff Place and Brisbane Square, opposite Conrad Treasury Casino. The event aims to showcase Queensland and Australian innovation to the business community and public, while providing opportunties for potential investors to examine innovations and inventions first-hand. Foundation sponsors include the Australian Association of Angel Investors, AVCAL and the Australian Institute for Commercialisation.

The QUT Dean's Breakfast is on Tuesday, July 27. This not to be missed event discusses the role of higher education in nurturing and championing the innovators of the future.

Wednesday July 28 is the Lord Mayor's Leaders of Innovation event and the release of Brisbane Innovation Scorecard. The inaugural Brisbane Innovation Scorecard and recognises those companies, businesses and individuals committed to excellence in innovation. The event runs from noon to 2pm.

Throughout Enable2010, Brisbane Innovators' Showcases will feature, a rare opportunity to look behind the scenes of a number of Brisbane's successful exporters and innovators. Various dates and times are to be confirmed, but a highlight is the official opening of TechnologyOne's new headquarters at HQ Fortitude Valley - a location that is a leader in sustainability in Brisbane.

http://www.enablebrisbane.com.au/

Source: Business Acumen Magazine Queensland , June 2010 edition

Australia’s competitiveness for hosting clinical trials is on the decline leading to an ‘unacceptable and untenable situation’ according to chairman and managing director of Bayer Australia, Joerg Ellmanns.

Mr Ellmanns was speaking at a recent Innovation Series industry lunch in Sydney where he also claimed that the industry investment in clinical trail research in Australia between 2008-09 had dropped by 30%. ‘Although some of this decline can be attributed to the global financial crisis, the fact is the trend looks likely to continue’.

Mr Ellmanns said clinical trials were vital for not only the medical community but also the health of the population and economy. ‘Economic investment and access to new drugs and therapies is clearly important, but we should also remember the potential loss of talent should research decline. Keeping Australia at the forefront of medical research is critical for our national agenda.’

Mr Ellmanns pointed to cost, capacity and timeless as the three main factors why companies such as Bayer withdraw investment in clinical trials. He believed timeliness was the most important factor, saying that it took more than six months to set up a clinical trial in Australia while it took less than half that time in emerging key countries in South America and Europe.

Why was this the case?

‘The approval process in Australia is more complex. In Australia there are more than 250 human research ethics committees and if a company is planning to invest in a multi-location clinical trial the process has been to gain ethics approval from a committee in each of those locations.

‘Other countries have a single ethical review even for multi-location trials making turnaround time much quicker. To compete with the emerging key clinical trial locations Australia needs to reduce the clinical trial set up to less than a couple of months’ Mr Ellmanns said.

Source: Australian Journal of Pharmacy, April 2010, Page 6

Dr Peter Farrell is one of Australia’s most successful entrepreneurs. As founder of ResMed in 1989, he has seen the company grow from a miniscule start-up with under a million turnover and losing $250k in 1990, to become the world leader in technology which aids millions of sufferers from sleep disordered breathing, of which sleep apnea is the major manifestation.

The company now distributes in 70 countries, with 55 per cent of its one billion plus revenue derived from the US where Farrell has resided for some years. The company retains a major presence in Australia, engaged in both R&D and manufacturing.

As an early contributor to Fast Thinking, and an active speaker at many conferences, Farrell has established himself as both an inspiring speaker on business, leadership, medical technology and many other subjects. He is a man of powerful opinions. His fierce intelligence and straight talk peppered with occasional profanities has made him among the most popular presenters on the informal lecture circuit. John Keeney,Fast Thinking editor-in-chief, and David John, publisher, had an intimate session during one of Farrell’s frequent mile-a-minute visits to Sydney.

'Stress is needed. Without stress you are not going to get anything done! You just need to avoid disaster.'

John Keeney(JK) What fundamentals should entrepreneurs think about in tackling the US market from an overseas position?

Dr Peter Farrell (PF): First, whatever you are doing the fundamentals count, and by that I mean a careful examination of the mix of people, ideas and the money needed. Is it really a viable proposition? Some are not asking hard enough questions about a proposition’s viability. But the real … the ultimate answer to a successful anything, is people quality.

Listen, you can take a B grade technology and make it work with A grade people. You can’t do the reverse. As far as the specifics of targeting the US market, one needs to understand, in depth, what’s different about the US landscape, the culture. You can only do that by going there. We did it at first in a minimal way, but effectively. We made numerous contacts. We listened. We were doing 10 per cent of our business there from Australia in the first year, with no office in the US, at least initially.

JK At what stage did you do an IPO? What advice would you give other start-ups on this subject? We listed on Nasdaq in June l995, and went to the NYSE in 1999 for reasons of increased profile. Whether that was a good move, I don’t really know, since our volatility didn’t improve. But we went public at the right time in that we were turning over close to 14 million and profits were strong enough to justify a float. But the main lesson is this: going public is the beginning, not the end – a good business leader must appreciate that. We did not list in Australia because there was not then the right appreciation for technology and the estimate of our share price at the time was 50 per cent greater in the US. With respect to advice on listing, I would not do it on the basis of a dream or a hope. There must be a sound business plan and you need to have sustainable sales and be making money, and that means a positive cash flow.

JK Is being public in the early stages a major new burden in terms of regulations, reporting, management distraction?Look, you just have to do it, and you must have the right people you can trust to do these vital things properly. It’s a distraction but there’s no choice.

JK In smaller countries where there may be less capital, talent base, lower research budgets – a more limited environment – do you believe government has a role in supporting companies to expand geographically? Have you witnessed any programs in other countries that are worthwhile. Absolutely not. Tell me please when was the last time you saw a government create a major innovation of significance? No way. Innovation comes from the private sector! There are too many cases where companies, or government programs which support companies, are kept alive with your tax money until they eventually die.

JK You have been on a Harvard medical supervisory board. What is the ideal role of the university today in commercialisation? Frankly, many of these boards generally are dysfunctional. And Universities should not be involved in commercialization. It is not their job. Their job is to turn out really bright young students and get them prepared for the real world. On this, I think that amongst the most valuable degree choices today are engineering of some kind, chemical, electrical, mechanical, whatever. There are other good choices, but I will say this: look at the top industrial companies, look at the leading companies in the US, Germany and Japan – they are generally not run by lawyers or accountants, they are run by highly qualified graduates in engineering or applied science. I can give you a list a mile long around the world which proves this. Start with Andy Grove of Intel, who has a PhD in chemical engineering from Berkeley, or Jack Welch, formerly GE’s chairman and CEO, who also has a PhD in chemical engineering from Illinois.

JK You’ve made the amusing observation that your biggest competitor is ignorance – any advice for others? This is a constant job of getting information across,
its stressful, it’s hard, you do it, you work at it. Look at what Barry Marshall, a friend and an Australian Nobel Prize winner, went through, challenged for years on his theories, even vilified. He fought, he persisted, he prevailed. And this brings me to the attitude that one often hears about stress. Until Barry Marshall came along, it was believed by the medical profession that duodenal ulcers were caused by stress. Ever seen a stress meter? Barry showed that it was caused by a bacterium. But it took years and he finally, along with his colleague Dr Warren, got a Nobel Prize. Business and scientific discovery are stressful. Stress is needed. Without stress you are not going to get anything done! You just need to avoid disaster.

DJ What other philosophical points in business do you think are vital. I talk a lot about people and leadership. But going further on this, look up Bertrand Russell’s [the great mathematician and philosopher] 10 commandments some time. One of them is: “Never be absolutely certain of anything.” Another one is: “Don’t be envious of those who live in a fool’s paradise because only a fool would think it was paradise.” To paraphrase another one, “Never try to win an argument by authority.” You have to win arguments with logic. And in business, what you also need is a sense of urgency, and you really have to have a fetish to want make a contribution. And you can’t have a great business if you have these attributes as well as persistence and determination and a high tolerance for bad news.

JK What attributes in business and entrepreneurship exist in the U.S which other countries should emulate? All cultures are not created equal. That’s nonsense. Beneath the overlay of political correctness in the US, the fact remains that it is the epitome of a country which encourages individuality, and this breeds innovation: the culture instigates individuality and a competitive spirit. I don’t know how you transfer this great quality or even if it’s possible, but it should be thought about. Mind you, the current US administration is largely Marxist and thinks the government should do everything. I predict that this will not be accepted and they will ultimately fail.

DJ What are your views on incentivisation of staff? We have unlimited bonuses. there is no cap. We reward excellence, and keep rewarding it.

JK What about ResMed’s market penetration in Asia? Has this been a non priority or a failed effort. No way has it been a failed effort, but it’s challenging. We follow the 80/20 rule but in fact we’re closer to the 90/10 rule, where 90 per cent of your business comes from 10 per cent of your customers. The key markets are the US, Germany and France in that order. We are all over the world, but we know where to focus. We do about $90 million in Asia, but in the US we have one customer who does about $50 million. Asian bureaucracy can be a challenge and it’s a question of working where things work best. But
Asia is still a great opportunity.

JK As a passionate manager, your role has clearly grown and changed with the growth of the company. How do you self –define your job as executive chairman. One word – strategy. This is actually my old and my new job. We have 3500 employees doing a good job in many areas. We have a couple of thousand patents, extensive R&D and global manufacturing. A company like ours needs a chief strategist.

JK You are a founding contributor to Fast Thinking, you’ve followed it a bit, what should we do to maintain position as the leading innovation magazine? How do we improve? Keep it simple. Make it practical. Keep it interesting, make it easy to understand, get people to want to come back to it. And be consistent in your messaging. Especially talk to people who have been there and done that. Look at Rupert Murdoch, he admits to overpaying a little bit for the Wall Street Journal, but he’s right – the circulation is going up and it makes strategic sense in the long term. Meanwhile the NY Times in my opinion is going down the tubes; it is too subjective and advertorial. The WSJ is clear, factual, interesting, useful – I don’t read the NY Times anymore.

JK What do you do in your hectic schedule to stay fit and balanced? I try to keep fit and I am also an active art collector, it keeps the mind alive in another dimension. And I belong to several golf clubs and try to relieve some of my work stress with the stress of golf.

JK What are your top picks of best business books you’ve read – innovation or otherwise. Managing for Results by Peter Drucker, from I think the mid-60s, and I have read much of his other work but this one in particular was very practical and logical. And Andy Grove’s books, the one before Only the Paranoid Survive – also good – but especially the earlier one, High Output Management. A lot of management books are about management fads.

Source: Fast Thinking Magazine, Autumn 2010 Edition

Technology is the turbocharger of economic growth, according to Dr Peter Farrell, executive chairman of Resmed, international developer, manufacturer and distributor of devices for sleep-disordered breathing. Speaking on Australian medical innovations at a function in Sydney in February, he suggested that “if innovation is the key to wealth creation, then technology is the enabler or the means”.

The function was the first of several events this year, organised by the Innovation Series, an initiative of Zernike Australia in partnership with the Australian Institute for Commercialisation. Farrell said: “If we apply technology to what we already do, it is called productivity, and if we apply technology to something completely new, and it is successfully marketed, it is called innovation.” He listed a number of steps to go through for a company to assess whether an innovation should be pursued.

“The innovation needs to be exciting and intriguing but it also has to pay the rent,” he said. Resmed, which Farrell set up in 1989 on the basis of an innovation, has been highly successful.

The company has produced revenue of US$1 billion in the past year, employs 3500 staff and sells its products in more than 70 countries. Farrell also made a few suggestions on leadership, listing a number of behaviours leaders should avoid. They included:

Source: Engineers Australia April Edition , Page 43

"We have seen up to a 30% decline in industry investment in clinical trial research in Australia between 2008 -2009. Although some of this decline can be attributed to factors such as the global financial crisis, the fact is, the trend looks likely to continue," he told a gathering of biotech and medtech industry executives in Sydney during the week.

"Without Australia being viewed as a key location for trials the ability to maintain this country''s reputation for innovation is seriously under threat," Mr Ellmanns said, adding, "This is an unacceptable and untenable situation. Clinical trials are vital for not only the medical community but the health of our population and economy."

He said there were three reasons why why companies like Bayer withdraw investment in clinical trials, "cost, capacity and timeliness". In Australia, the main problem is timeliness. "In Australia it can take in excess of six months where as in many of the emerging key locations, such as South American and Eastern Europe, setting up a clinical trial takes less than half this time," Mr Ellmanns said.

"The approval process in Australia is more complex. In Australia there are more than 250 human research ethics committees and if a company is planning to invest in a multi-location clinical trial the process has been to gain ethics approval from a committee in each of the locations."

Mr Ellmanns said he was pleased by National Health and Medical Research Council initiatives to certify research institutes to approve multi-centre trials but added that different approaches across state jurisdictions were tending to complicate the process.

He stressed, however, that Bayer was not giving up on Australia and had increased its research spend here last year.

"Unlike many of our competitors Bayer is also increasing our local research investment here in Australia. In 2008 alone, Bayer had 659 Australian patients involved in trials carried out at 143 research sites across Australia. This increased by 36% in 2009 to over 195 research sites."

"With 42 pipeline drugs in the making internationally, Bayer also has some very exciting innovative products currently under development in Australia. We have a significant local commitment to the development of a molecular diagnostic product for the diagnostic imagery of Alzheimer''s disease.

"Two thousand and ten will also see Bayer involved in some essential studies to make our own very promising molecule rivaroxaban available to paediatric patients at risk of deep vein thrombosis and for paediatric cardiovascular surgery patients. This will be an important program and will also result in a rational process for dosing in young patients. In each of these programs Australian researchers are centrally involved."

For the full text of Mr Ellmanns'' speech, click here.

Source: Trials in Focus , 22 February 2010