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Australasian Biotechnology, Vol. 12, No. 4, Aug-Sept, 2002, pp. 40-41 NEWS FROM AUSTRADE BIO2002: GATEWAY TO GLOBAL MARKETS Prepared by Austrade and Invest Australia Code Number: au02024 BIO as a business venture The BIO event stands alone as the one event capable of attracting the global biotechnology community to one place at one time. In the context of commercial opportunities, however, it is foolhardy to look upon BIO as a singular event. Australia was represented by the fourth-largest national delegation at B102002, held in Toronto, Canada from 9-12 June 2002, just behind the US, Canada and Germany, yet Australian biotechnology accounts for less than 2 per cent of the industry's global activity. So how do we drive representation at key international events to deliver comparable commercial figures? The issue is, how to translate gains made at short-term events into sustained industrial development? Recent developments in Australian participation at BIO events may provide some answers. Sally-Ann Watts, Austrade's Global Team Leader for Biotechnology, believes that Australia's profile at B102002 reflects the growing maturity of commercial opportunities in Australian biotechnology. 'It also reflects the coordinated national approach badged Destination Australia 1 by the Commonwealth, State and Territory Governments, and AusBiotech, to participate in international biotechnology events', says Barry Jones, Acting CEO, Invest Australia. This year, Australia extended its prominence at BIO on many fronts. Australians gained unprecedented representation on the Conference program, and participation in the Investment and Partnering forums. Greater emphasis was also placed on achieving commercial outcomes through targeted business-matching activities. These developments show that BIO itself is not a singular event, but part of a complex web of interrelated activities. An outline of the activities organised in and around B102002 is listed in Table 1. Given the size, complexity and short duration of the program, genuine business opportunities will be missed unless the event is well managed and companies undertake preparation well in advance of their actual attendance.
* N= in parentheses refers
to the number
of Australian individuals or organisations BI02002 The Australian Pavilion at BI02002, poised under the Destination Australia banner, served to focus attention on the breadth and quality of Australian biotechnology, including 68 organisations ranging from companies to research organisations and government. Beyond the branding of Australian biotechnology, the exhibition stood as a focus for business relationships. The traditional Destination Australia networking event which is becoming well known amongst the B1O delegates, not only for the quality of the Australian wines, but also the opportunity it provides to network in a more casual atmosphere with the Australia delegation. Another activity centred on the Australian National Pavilion was a business-matching event attended by Swedish and German delegates and organised through Austrade's Frankfurt office. This provided an opportunity to advertise the upcoming AusBiotech national conference and also to do some pre-marketing for European events being targeted by the BENC in the latter half of 2002. The major partnering event held on the Sunday afternoon before the official opening of B102002 occurred with Australian/NZ/Canadian/UK companies; of a total of 240 meetings, 114 were arranged for 38 Australian companies. A total of 35 Australian companies represented Australia in the BIO 2002 Business Forum, incorporating the Investment Forum, the Technology Transfer Forum and the Partnering Forum, all of which helped to generate business leads. 1. The Destination Australia approach is coordinated through the Biotechnology Events National Committee or BENC. Dr Peter Riddles President of AusBiotech, chairs the Committee which is comprised of representatives from the Commonwealth, States and Territories, CSIRQ and AusBiotech. Invest Australia and Austrade provide the pivotal support role for the Committee. Follow-up, follow-up The challenge now is to translate participation in BI02002 into success. The importance of follow-up can barely be overstated. Feedback from foreign delegates suggests that, in the past, Australia has made a good impression, but failed to follow-up. Apparently, the perception in offshore markets is that Australians make a big splash and disappear, leaving others to capitalise on their groundwork.. Individual companies are responsible for pursuing their most promising leads, but they need not act alone. The global networks of Austrade and Invest Australia are available to help in this regard. We are also working to increase the international contingent of AusBiotech 2002, and to run a series of international Roadshows to build on the gains made at B1O2002. Measures of Success BI02002 is one means of raising the international profile of Australian biotechnology. Persistence, sizeable delegations, the national pavilion and representations in conference and forums all work to reinforce the perception of quality, breadth and credibility of Australian capabilities. The number and quality of international partnerships is the benchmark of our industry's development. Accordingly, the level of international business generated by B102002 will determine the value of the event. A survey of business outcomes from BI02002 is currently being finalised, with only half of the surveys completed, initial figures indicate almost 400 quality leads and over 100 potential partners have been identified, with significant business anticipated. Debra Rathjen, CEO of Bionomics and a participant of this year's Bootcamp, provides a case in point. "We met with representatives from Hybrigen and Genmab for the first time at BIO 2001 in San Diego, and that was the start of relationships which have resulted in major collaborations between Bionomics and these companies," she said. We need to monitor the level of business activity that stems from B102002. So, let us know what deals have come from BIO? The example of your success may shape plans for future events. For further information please contact: Invest Australia The Invest Australia biotechnology team works to lift Australia's biotechnology profile internationally and to raise awareness of our biotechnology capabilities, opportunities and advantages as a site for investment. Invest Australia also supports Australian companies to participate in key international events as a way to promote investment opportunities in Australian biotechnology, specifically through its role on the Biotechnology Events National Committee (BENC). Invest Australia is currently working a pipeline of biotechnology investment interest from Europe and the USA in cooperation with State and Territory Governments. Efforts are being focused in 2002 on increasing interest from China, Japan and Taiwan. For further information please contact: Copyright 2002 - AusBiotech |
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