Australasian Biotechnology (backfiles) AusBiotech ISSN: 1036-7128 Vol. 11, Num. 4, 2001, pp. 28

Australasian Biotechnology, Vol. 11, No. 5, 2001, pp. 28

MEETING REPORT

Bio 2001 ATTRACTED LARGE AUSTRALIAN CONTINGENT

Keith Maxted

General Manager, Invest Australia

Code Number: au01057

The annual Bio International Convention and Exhibition was held in San Diego from 24-27 June 2001. BIO is the world's largest and most important exhibition and showcasing event for biotechnology.

The event attracted around 16,000 delegates worldwide. More than 340 Australian delegates attended from over 130 government, academic and industry agencies. This represented around twice the number of Australian delegates that attended last year.

Australia's participation in BIO 2001 was coordinated by a National Steering Committee convened by Invest Australia and comprising representatives from Austrade, Biotechnology Australia, Invest Australia, CSIRO, the States and Territories and AusBiotech. The President of AusBiotech, Dr Peter Riddles, chaired the Committee, with the view to leveraging industry support for the event.

This was the first time that Australia adopted a coherent, national approach to its participation at BIO. This is consistent with the decision of industry Ministers in April 2001 to support a national approach to investment attraction in biotechnology, information technology and R&D. The 41 Australian exhibitors (comprising 24 companies, 11 research institutes and Commonwealth, State, and ACT governments) were unified at one national stand under the banner of "Destination Australia".

This coordinated approach proved to be highly successful and was instrumental in lifting Australia's international profile and placing Australian biotech on the world radar screen.

At the Australian delegation debrief at the completion of Bio, there was unanimous support for the continuation of a coordinated national approach to Australia's presence at future international events of this nature. Accordingly, the National Steering Committee will continue to function as a vehicle for the organisation of similar events. Indeed, Invest Australia is now working to ensure a coordinated approach to Australia's participation in Biotechnica and Biopartnering in Germany and UK in October 2001. Invest Australia is also committed to significant involvement in the preparation of Australia's participation in Bio 2002 in Toronto.

Over the three days of the Exhibition, around 600 delegates specifically sought information from the Invest Australia/Biotechnology Australia stand. All of these delegates were provided with an information pack comprising the recently released Australian Biotechnology Report 2001, the Invest Australia flagship publication, five case studies on successful biotechnology investments in Australia, a booklet providing information on all Australian participants at Bio and a leaflet highlighting Australian biotechnology strengths.

More specifically, the Invest Australia/Biotechnology Australia generated 120 potential investment leads or enquiries requiring further follow-up. Of these, 62% were from the US, 11% from Canada and 10% from the UK. All of these enquiries will be followed-up over the next two months through Invest Australia's network. The challenge ahead is to convert these inquiries into productive investments for Australia.

Two concurrent programs operated in conjunction with the Exhibition - an investor forum which provided an opportunity for companies to deliver presentations to delegates and a partnering forum which provided an opportunity for delegates to schedule meetings with business clients. Four Australian companies presented at the investor forum (in previous years we had been unsuccessful in gaining any Australian representation at the forum) and all presentations were well received. The Victorian Government also sponsored one of the investor forum streams and this provided high level exposure for Victoria's biotechnology industry. Ten Australian companies participated in the partnering forum.

The Queensland Premier, the Victorian Premier and the South Australian Deputy Premier led strong delegations from their respective States. The Queensland and Victorian Premiers opened the Australian wine tasting event at the Australian stand on the first day of the Exhibition, an event that proved to be an excellent drawcard. The Australian stand also conducted a quiz on Australian biotech throughout the duration of the Exhibition, with answers to questions being displayed at strategic locations around the stand. Entrants to the quiz were eligible to enter a draw for prizes including Akubra hats and a major travel award. This event was also very effective in encouraging people to move around the stand and in raising awareness about Australian biotechnology.

Some key announcements were made by the Victorian and Queensland Premiers during BIO 2001. The Victorian Premier announced the allocation of $100m towards the development of a national synchrotron for drug research. The Queensland Premier announced $60m for a Nanotechnology Centre, $40m for a Centre of Excellence in Food Science and Technology, $15m for a Queensland Bio Discovery Fund and $3m for a BioStart Program.

It is also significant to note that officials of AusBiotech, the peak industry association, devoted considerable effort towards raising Australia's biotechnology profile and making strategic connections with other industry organisations.

I consider Australia's presence at BIO 2001 to have been highly successful in lifting the profile of Australia's biotechnology industry and raising awareness of the advantages of Australia as a destination for biotechnology investment. However, while we have been effective in enhancing our profile, the real challenge is to secure some substantive investment wins to establish a strong credibility with the investment community. That is, we must convert the investment leads obtained from BIO 2001 into productive investments for Australia. The next twelve months will be important as a window of opportunity to achieve this objective.

I wish to thank all Australian delegates to BIO 2001 for their cooperation in ensuring a coordinated, national approach to Australia's presence at this important event. I look forward to continuing to work with government and industry representatives to help realise the future potential of Australia's biotechnology industry.

Copyright 2001 - AusBiotech