Medical device manufacturer Cook Medical Australia has officially opened a new commercialisation and development centre in Brisbane, designed to assist businesses, entrepreneurs and researchers from across Asia Pacific to bring innovative medical products and health related technologies to market.Cook Medical Australia is committing $4 million to establishing the Asia Pacific Commercialisation and Development Centre (ACDC), located in the Cook Medical Australia precinct at Brisbane Technology Park, Eight Mile Plains.
The establishment of ACDC represents Cook Medical Australia’s long-term commitment to fostering R&D in Australia, while simultaneously creating opportunities for local advanced manufacturing jobs.
Successful ACDC research partners will have access to a full range of ACDC resources to support product commercialisation, including a world-class fabrication laboratory with 3D printing capabilities, electrical and mechanical systems for testing products, business facilities, as well as workshop and demonstration spaces.
A local team will coordinate the day-to-day operation of ACDC, while advisors, sourced from Cook Medical’s highly experienced management ranks, will provide practical advice and expertise at relevant points along the pathway to commercialisation.
Speaking at the ACDC launch event in Brisbane on Thursday 9 February, the Hon. Leeanne Enoch, Minister for Innovation, Science and the Digital Economy, emphasised the importance of advanced manufacturing to Queensland’s economic future.
“Queensland is in an excellent position to take advantage of the projected growth in the global medical technology industry, which by 2022 will be worth an estimated $530 billion,” Ms Enoch said.
“Cook Medical’s Asia Pacific Commercialisation and Development Centre will operate as an incubator accelerator for medical technology startups, a function that aligns with the Palaszczuk Government’s $405 million whole of government Advance Queensland initiative.
“Cook Medical will be the talent scouts for medical technology breakthroughs that could change the lives of people suffering serious illnesses and disabilities.”
Barry Thomas, Director - Asia Pacific, Vice President - Cook Incorporated, confirmed Cook Medical is looking to help boost the local economy by improving the rate of medical technology ideas achieving commercialisation in Australia.
“Australia’s future economic success will rely on our ability to retain intellectual property (IP) domestically,” he said.
“Cook Medical recognises the long journey required to bring new medical devices to fruition; ACDC will provide access to practical advice and expertise at relevant points along the pathway to commercialisation.”
“Creating an environment that attracts people with ideas from across the region, then nurturing those ideas through to commercial viability, will increase the local knowledge and skills base while potentially creating new employment opportunities.”
General Manager of Cook Medical Australia, Dr Samih Nabulsi, highlighted the company’s desire for ACDC to make a difference by improving patient health outcomes.
“The success of the ACDC will be measured by the outcomes achieved for patients through the devices and technologies created by participants, and it is this commitment by Cook Medical Australia that makes ACDC stand out from other programs of its kind.”
Notable members of Queensland’s research community and academia also attended the event.
Cook Medical is offering placements at ACDC to those businesses, entrepreneurs and researchers who have established concept-proven medical products and technologies to progress through to commercialisation.
Told a year ago that Malcolm Turnbull would only just scrape back into a power with a bigger crossbench including Pauline Hanson, that Britain had voted to leave the European Union and that host of the The Apprentice Donald Trump had been elected US president on a nativist, protectionist platform, most people would scoffed that such improbable events would be a massive downer for the Australian and global economies.
Yet, all that has happened and the bad stuff hasn't. Australian shares are up 19 per cent on a year ago, Wall Street has advanced 26 per cent, key commodity prices have jumped and new Reserve Bank Governor Philip Lowe is feeling at least glass-half-full. The Trump White House could even be good for global growth if it follows through with promises to boost infrastructure spending, cut taxes and slash regulation – and backs off its talk of trade protectionism and currency wars. After a wonky September quarter number produced loose talk of recession, the Reserve Bank boss expects Australia's economic growth to accelerate to an above-trend 3 per cent in the next few years.
Former Goldman Sachs global chief economist Jim O'Neill, who will speak at The Australian Financial Review Business Summit next month, also has picked up signs of stronger growth in the world economy from a series of previously reliable indicators such as US jobless claims, US manufacturing orders, Chinese retail sales and South Korean trade. Mr O'Neill suggests global growth may be accelerating to 4 per cent or more in spite of, not because of Trump and Brexit.
The global economy's long and tortured recovery from the 2008 recession should not be surprising – that's typical for recessions caused by financial boom-busts. And, while initially shielded from the GFC fallout, Australia has since had to digest the downside of our biggest ever resource investment boom. The transition to the post-resources boom economy has been drawn out and economic growth sub-par. But the sharp downturn in resource investment will soon blow itself out, says Dr Lowe. Higher iron ore prices are boosting BHP Billiton, Rio Tinto and Fortescue and will flow through to household income and government tax revenues. And record low interest rates and a lower dollar eventually will fuel growth.
Meanwhile both federal government and some states are taking advantage of the historically cheap money to build new infrastructure to catch up on the roads, rails and ports that Australia's rapid economic expansion and population growth of the last 30 years has outpaced. NSW is leading the pack by recycling the funds it has raised through privatising mature infrastructure assets such as ports and power grids.
Obviously there are significant risks to this more optimistic outlook, such as from a Trump trade war or the bursting of an Australian housing bubble in Sydney and Melbourne, fuelled in part by the Reserve Bank's cheap money that Dr Lowe would like to withdraw. But perhaps the bigger risk is that our political class and culture are too slow to recognise that Australia has come through the GFC and our biggest ever resources boom in relatively good shape. What's needed now is orthodox responses, not some retreat to populist protectionism and redistribution. Rather than the mad politics of the Senate backbench and the faux class warfare of Shorten Labor, what's needed is a continuation of the pro-market growth agenda begun under Hawke-Keating Labor and continued until Howard and Costello. First of all, the political class needs to get the federal budget under control, or, as Dr Lowe says to build up the economy's fiscal buffers. And, as the Governor also suggests, it needs to sharpen our wealth creation incentives, such as by cutting our uncompetitive company tax rate. At the moment, Canberra is still arguing over whether to cut a welfare handout to compensate for a carbon tax that was abolished in 2014.
Though the headline utility-scale figures indicate a come-down of mammoth proportions, it was always going to be impossible to fill the gap left by Nyngan, Broken Hill, and Moree – heavily-subsided projects over five years in the making. However, if we exclude systems exceeding 20MW (Baracaldine being the only project last year above this threshold), there was actually significant growth. There was a record volume of systems in the 5-20MW range: Mugga Lane, Williamsdale, and Dugrussa (Sandfire), as well as growth in every other size category above 100kW.
Commercial systems in the 10-100kW range had a lacklustre start to the year, but finished strongly with a record 27MW of systems in the 10-100kW range installed in December alone – 32% of STC systems exceeded 10kW in the final month of the year. As a result the average system size climbed to a record high, finishing the year at 6.25kW/system (for sub-100kW systems). Greatest growth was seen in the 75-100kW range, and the image below shows a skyrocketing level of installations of 100kW systems in December 2016.
Electricity price rises are the talk of the town in states like WA and Queensland, and are again driving interest in solar power. As a result, residential PV underwent a bit of a renaissance, at least in WA where it drove the market 33% higher than 2015’s values, in the process setting a new record for annual installation volume (all without a feed-in tariff or STC multiplier reduction).
Australia became a hot spot for battery sales globally. International companies staged global launches of energy storage products in Australia. SunWiz’s Battery Market 2017 report shows that there over 5% of new PV systems included energy storage in 2016. Its fair to say 2016 exceeded the expectations of many in the industry, and set the stage for some stellar market growth in 2017. But it wasn’t all residential installations – the chart below shows there was a record 11MWh of major projects installed in 2016, with highlights including Sandfire Copper Mine, Nauiyu Aboriginal Community, Bunninyong, and Alkimos Beach Community systems.
All in all the year ended up on 839MW, comprising 87MW of identified LGC systems and a projected 752MW of sub-100kW systems.
Source: Renew Economy
The UK and India on Thursday agreed to ease restrictions on the number of scheduled flights between the two countries to provide a boost to trade and tourism. Limits on flights from key Indian cities, including Chennai and Kolkata, have been scrapped, allowing for a greater range of flights for passengers
“India is one of our closest allies and key trading partners and this new agreement will only serve to strengthen this crucial relationship. We are unlocking new trade and tourism opportunities which will boost our economies, create new jobs and open up new business links,” UK aviation minister Lord Ahmad of Wimbledon had said during his visit to India this week
“This is a great news for both the UK and India and is yet another sign that we are open for business and ready to build and strengthen our trade links,” he said
With about 2.5 million passengers flying direct between the UK and India each year, and 88 scheduled services per week in each direction between the two countries, the agreement will open up even more routes and opportunities
Indian Civil Aviation Minister Ashok Gajapathi Raju Pusapati said: “The increase in number of flights between the UK and India is encouraging news for our businesses and tourists. We already enjoy strong ties with the UK and we welcome such continued association which in the long run will not only encourage business activity, but also people-to-people contact.
“I am sure that this agreement will bring direct and indirect benefits to many sectors of the economies of our two countries,” the minister said
As it prepares to exit the European Union (EU) following a referendum in favour of Brexit last June, the UK government has stressed that building new links with important trading partners is a key part of its plans for a “Global Britain”, as well as opening up new export markets and creating jobs and economic growth
“India is a rapidly expanding and important market for aviation and the agreement signed today will allow airlines to develop new services and routes,” the UK government said in a statement
It highlighted that tourism from India makes an important contribution to the UK economy. In 2015, there were 422,000 visits from India to the UK, bringing more than 433 million pounds to the economy
The latest agreement was formally signed during a visit to India by Lord Ahmad, where he led a delegation of British companies for the 2017 CAPA India Aviation Summit
Meeting with Raju, Minister of State for Civil Aviation Jayant Sinha, and India’s leading airlines, Lord Ahmad encouraged Indian businesses to partner with UK aerospace companies to capitalise Britain’s world-class aviation expertise. The final decision on additional flights between the UK and India will be a commercial one for airlines.
Source: The Indian Express
Seeking to enhance India’s trade ties with Egypt, a 17-member business delegation has arrived here to participate in a seminar to scout investment opportunities in the country. The Confederation Indian Industries (CII) delegation is led by Ajit Gupte, Joint Secretary, Ministry of External Affairs, Government of India is in Egypt, at the invitation of Federation of Egyptian Industries (FEI)
The delegation members are drawn from various sectors including agri-business, infrastructure, chemicals, power, food industry and business services. During their visit, the delegation will call on several Egyptian Ministers including Minister of Trade and Industry, Minister of Petroleum and Metallurgical Wealth, Minister of Electricity and Renewable Energy and Minister of Transport
The three-day visit of the CII delegation is a part of the efforts to boost the trade relations between the two countries, spanning across diverse sectors. They will also be meeting senior officials from General Authorities for Investment and Free Zones (GAFI) and Suez Canal Economic Zone Authority.Seeking to enhance India’s trade ties with Egypt, a 17-member business delegation has arrived here to participate in a seminar to scout investment opportunities in the country. The Confederation Indian Industries (CII) delegation is led by Ajit Gupte, Joint Secretary, Ministry of External Affairs, Government of India is in Egypt, at the invitation of Federation of Egyptian Industries (FEI)
The delegation will attend India-Egypt Business Seminar organised jointly by the Embassy of India in Cairo, Confederation of Indian Industries (CII) and Federation of Egyptian Industries (FEI). The seminar will deliberate upon various trade and investment opportunities between India and Egypt. It will be attended by business persons from various Egyptian business chambers and government officials
India has a significant economic presence in Egypt with over 50 companies and joint ventures and an investment exceeding $3 billion. Indian entrepreneurs are optimistic about the long-term potential in Egypt and look forward to mutually beneficial win-win collaborations
India is the ninth largest trading partner for Egypt, with 12th largest source for import and seventh largest destination for exports. The government and business community in both the countries are working closely to promote and expand bilateral economic relations.
Source:The Financial Express