Our time (and zone) for global success has come

With a third of the world market opening up dramatically in our region, an Australian company can become globally significant and achieve as much success, if not more, by being headquartered in Australia as in Europe or America. 

This was the critical message delivered by Dr Keith Williams AM, CEO of the dynamic biotechnology company Proteome Systems Ltd, when he delivered The Warren Centre's 9^th Innovation Lecture in Sydney and Melbourne in May.

And he used the rapid growth of his own company to prove the point.

“Japan is likely to remain Proteome Systems’ biggest market, and other world markets in our region such as China, India, Korea and Malaysia, are undergoing huge and rapid growth. Combine our proximity to that region with Australia’s tolerant multicultural society, and being based in Australia gives a significant edge to any company that wants to achieve international success, particularly in Asia, and remain Australian.  Of course we are in the US but we operate in the US through our American management team,” he argued.

Dr Williams, who has been at the forefront of the proteomics (protein science) revolution for the last 10 years and more, founded Proteome Systems in Sydney in 1999 with 14 staff. Today the company has 140 employees, a wholly owned subsidiary in Massachusetts and joint ventures in Massachusetts and Tokyo. In 2003 the company grew by 80 per cent to a turnover of $21.5 million and was ranked 34^th in the Business Review Weekly’s latest Fast 100. It is currently planning a public listing on the Australian Stock Exchange.

Proteome Systems is at the very cutting edge of industrial scale protein science that is transforming the life sciences. As Dr Williams explained:

“When you get sick you treat the disease and the disease is manifested as changes in protein. Take away the water, and you are half protein, and proteins are responsible for making the other bits (sugars and fats). Virtually all drugs target proteins in providing treatment and many of the new therapeutics are themselves proteins.  Proteomics is therefore at the centre of diagnosing as well as treating disease.”

What makes Proteome Systems unique in this field is that it is the only company in the world to develop and sell a global, integrated solution that addresses all the needs in the chain of proteomics research, technology and ongoing technology development, as well as discovery research and diagnostics. Through its partnerships and using its own manufacturing capabilities, Proteome Systems has assembled an integrated platform which includes computer hardware, software, scientific instrumentation, chemical consumables, methodology and training.

For cystic fibrosis sufferers, for example, the company is developing a method of analysing the state of the patient’s lungs using sputum or plasma, to replace the cruder technique of measuring breath power during exhalation. This produces a fast and direct measurement, which in turn leads to early and better diagnosis, levels the peaks and troughs of the disease and when implemented should  result in greater patient stability.

Proteome Systems is also working to find the markers that will make a three-minute diagnostic test for TB possible, an achievement with major worldwide health implications.

Because it is using these technologies to conduct its own research and discover revolutionary diagnostic and prognostic techniques for disease treatment, as well as the next generation of drugs , Proteome Systems is able to anticipate market needs and stay globally competitive.

How has an initially very small company achieved so much in so short a period? Dr Williams was very clear on the lessons for aspiring global innovators:

·  Pay a lot of attention to your people and use them productively. This gave Proteome Systems an intellectual advantage in every aspect of its business.

·  Be brave, know your strategic edge and enter into wise strategic partnerships with bigger companies in a way that both sides benefit. Proteome Systems teamed up with IBM, Charles River Laboratories and Shimadzu, which resulted in rapid growth and reaped huge manufacturing, marketing and financial benefits.

·  Build a global brand that customers recognise easily.

·  Make useful products and market them well.

·  Use downstream integration, particularly in emerging industry sectors. If you use the products you manufacture, you will know how to improve them and where to go next.

Describing himself as “hopelessly optimistic”, Keith Williams is convinced that Australian entrepreneurs live in the right part of the world to take advantage of where the greatest growth in the world can be found. And he wants to inspire them to seize that opportunity.

In May, Keith was presented with a 2004 Warren Centre Innovation Hero award for his leadership in creating, developing and commercialising proteomic products.

Dr Keith Williams AM

To download a copy of Dr Williams 2004 Innovation Lecture please click here

WHAT'S NEW:

2003 Annual Report
 

DIARY DATES

Warren Centre Events

Difficulties with the above,
contact Fiona Hearne on (02) 9351 7205
or  fionah@eng.usyd.edu.au

Events Supported by The Warren Centre

21 to 24 July 2004
Universities, Cities and Society in the 21st Century
Venue: Sydney Convention Centre & various Sydney University venues
Web: www.usyd.edu.au/ac21
Email: ac21@usyd.edu.au

21st & 22nd July 2004
Australian Energy & Utility Summit 2004
The future of Australia's energy and
utility sector
Venue: Sydney Convention Centre
Click here for more information or 

August/September 2004 (tbc)
"Disruptive Technologies - Risk and Reward"
An ATSE workshop
Email: Dr John Nutt, ATSE for more info.


23 & 24 September 2004
Engineers Australia - Engineering Leadership Conference 2004
Venue: Sydney Convention and Exhibition Centre
Click here for more information on the web or  here to request info by Email

27 to 29 September 2004
CHEMECA 2004
Venue: Australian Technology Park, Sydney
Click here for more information on the web or  here to request info by Email

15 & 16 November 2004
ATSE 2004 Symposium - "Living Longer, Living Better"
Venue: Adelaide Hilton Hotel
 see www.atse.org.au for more details
Paula Williamson (03) 9347 0622 or paulaw@atse.org.au
 

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