Taking up the Innovation Challenge in Suzhou

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Chinese students of South East University-Monash in Suzhou and visiting postgraduate students from Australia met in Suzhou, Jiangsu Province in April to take part in an Australian Government supported entrepreneurs’ boot camp.  The Suzhou event followed a two-day program of site visits in Shanghai to entrepreneurship incubators in Fudan University’s Youth Entrepreneurship and Science and Technology Incubator (Shanghai),  and Tongji University’s FabLab O, and the Zizhu Entrepreneurship Incubator, Zizhu National Hi-tech Industrial Development Zone. The site visits showcased the impressive innovation effort and entrepreneurial drive that exists within China today.

The Australian delegation was facilitated by the Australian Academy of Technology and Engineering (ATSE) and was led by Dr Paul Wood ATSE. The boot camp was hosted by South East University-Monash in Suzhou and focused on introducing research students to the principles required to succeed in a competitive innovation‐led world, with a particular focus on Chinese-Australian relationships. Chinese and Australian post-graduate students worked together on real world projects aimed at empowering them to become business leaders of the future.

The boot camp was opened by Australian Consul General to Shanghai, Mr Graeme Meehan, and facilitated by Dr Buzz Palmer, CEO of STC Australia and Director of Entrepreneurship at Monash University.  Participating institutions included Monash University, South East University, Queensland University of Technology, the University of Melbourne and the University of Technology Sydney. The four day event was truly a great experience for all.

Thanks go to the Shanghai Association for Science and Technology, Fudan University’s Youth Entrepreneurship and Science and Technology Incubator, Tongji University’s FabLab O, the Zizhu Entrepreneurship Incubator, South East University-Monash Graduate School and Suzhou Dushu Lake Science and Education Innovation District Admin Committee for making this visit such a success.

Digging deep to unearth success in mining ventures

New light has been shone on the pathway to success for mineral exploration ventures in Australia.

Researchers from QUT’s Australian Centre for Entrepreneurship Research (ACE) investigated more than 1000 joint ventures in the Australian mining industry to uncover why some succeed and others fail.  QUT research has found mining firms that bring new partners in to exploration projects increase the risk of termination – even if the new partner has deep pockets.

They discovered stability was the key to successful projects, providing valuable security in an industry affected by changing regulations and wider economic factors.

The research was sponsored by the Queensland Exploration Council (QEC) and the Australian Research Council.

Lead researcher Dr Rene Bakker said, surprisingly, bringing on new partners to joint venture mining projects sometimes increased the risk of a project being terminated.

“It is not always beneficial for smaller firms to bring on board a new partner, even one with deep pockets,” he said.

“A new partner can upset the status quo, disrupting the balance of power and making the project more likely to fail.

“Joint ventures can be a great resource for mining firms if executed correctly. But, as one mining executive said, you have to be very careful who you get into bed with.

However with significant challenges facing the mineral exploration sector, Dr Bakker said joint ventures would continue to feature prominently.

“New discoveries are becoming harder and more costly and joint ventures can help fill in gaps in specialised knowledge and financial resources,” he said.

“Challenges for investors include the upfront cost of capital investment, difficulty of discovery processes, increased lead time to advance deposits and increased global competition.

“We found successful projects were stable and this stability was maintained by factors including choosing projects widely, coming into the project with confidence, clearly defined needs at each site and patience and stamina to cope with the long lead times and high costs.

Chair of the QEC Geoff Dickie said patience and stamina were required by investors, given the long lead times and high costs.

“Joint venture partners need to be able to take a long-term view even in the face of a highly volatile market,” he said.

“This research gives explorers valuable insights into setting up and maintaining successful ventures.”

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Media contact:

Rob Kidd, QUT Media, 07 3138 1841, rj.kidd@qut.edu.au
After hours, Rose Trapnell, 0407 585 901

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Forum: Entrepreneurial Ecosystems and Regional Development: Bridging the Valley of Death and Capturing Value in Region

http://acereconference.com/policy-forum/

Entrepreneurs, new venture supporters, funders and governments worldwide want to create places that stimulate innovation and entrepreneurship that foster economic development and growth. The question is how?

We know that entrepreneurial ecosystems such as that experienced in Silicon Valley work. We also know that not many (if any) places are like Silicon Valley. The ecosystems that support and sustain entrepreneurship in different places will each have a unique set of characteristics. So, in creating a successful entrepreneurial ecosystem finding the right unique set of characteristics is crucial. In this regard everybody has a responsibility.

No matter where you are, the region you occupy will have a level of entrepreneurial activity which serves local needs and will have links with international markets. The Forum aims to raise and discuss issues concerning policy challenges and approaches to stimulate Entrepreneurial Ecosystems, using the local Adelaide movement as a case study.

The forum will focus on how each contributor can help to address localised issues while gathering international perspectives on what others do. This is your chance to have a say in how your ecosystems are formed. 

Outstanding keynote academics, including Professors David Audretsch (USA), David Storey (UK) will feature, as well as our own local academic team Professor Göran Roos and Dr Allan O’Connor.

The Forum is timed to coincide with the 2015 Australian Centre for Entrepreneurship Research Exchange (ACERE) to be held at the University of Adelaide from 3 – 6 February 2015.

This is an annual Australian research conference that attracts leading international scholars and provides a platform that allows attendees to share ideas about entrepreneurship and what makes it work.

The timing of the Forum means that an international mix of world-class entrepreneurship scholars will also be participating and adding new perspectives to enhance our understanding of our unique entrepreneurial ecosystem.

To register for the Forum to be held on Tuesday 3 February 2015 at the Adelaide Conventions Centre  CLICK HERE.

The Entrepreneurial Ecosystems and Regional Development: Bridging the Valley of Death and Capturing Value in Regions Policy Forum is supported by DIMTRE, Adelaide City Council and ECIC.

Dimensions of Innovation presentations now available online

On 17 October 2014, QUT was pleased to host two of the world’s leaders in innovation and entrepreneurship research, Harvard Business School Professor, Josh Lerner and Professor Adam Jaffe.

This event explored how government policy can support firm and industry innovation; the capabilities organisations require to respond to turbulent environments; and how entrepreneurs recognise and pursue opportunities through the formation of new independent or corporate ventures. The presenters were Harvard Business School Professor and head of the Harvard Business School Entrepreneurial Management unit, Professor Josh Lerner, and Professor Adam Jaffe formerly at Harvard and now Director of Motu, New Zealand’s leading non-profit economic and public policy research institute. This sharing of their world leading research on entrepreneurship and innovation was followed by QUT led panel discussion.

you tube small     Professor Josh Lerner

you tube small     Professor Adam Jaffe

you tube small     QUT Panel Discussion

Small Business Week presentations now available online

The Australian Centre for Entrepreneurship Research at the QUT Business School hosted three events to inspire and build business as part of 2014 Queensland Small Business Week, an initiative supporting and celebrating the important role of small business in the Queensland economy.

Presented by Professor Per Davidsson, Director, Australian Centre for Entrepreneurship Research, and Dr Scott Gordon, Research Fellow, Australian Centre for Entrepreneurship Research: This seminar reports some main findings from the Comprehensive Australian Study of Entrepreneurial Emergence, which is the largest study of business start-ups ever undertaken in Australia.

Well over a thousand emerging and young firms were followed over a six-year period. Four doctoral dissertations; eight reports to the federal Department of Industry, and a range of other works have been written on the basis of this project. The seminar will cover the dos and don’ts of business planning; low-cost strategies to start a business; the challenges of innovation; more vs. less successful start-up processes, and a number of other topics.

 you tube small     The creation process: What works and doesn’t work for Australian start-ups?

you tube small      Small Firm Growth: Lessons from systematic research

you tube small      Entrepreneurship in Australia

You are invited to our GLOBAL ENTREPRENEURSHIP WEEK EVENTS!

Global Entrepreneurship Week is 17 – 22 November 2014.  Global Entrepreneurship Week is the world’s largest celebration of the innovators and job creators who launch startups that bring ideas to life, drive economic growth and expand human welfare. During one week each November, GEW inspires people everywhere through local, national and global activities designed to help them explore their potential as self-starters and innovators.

This year the Australian Centre for Entrepreneurship Research Centre at the QUT Business School have organized a couple of events to kick off the week – Read more

QSBW – a busy time for ACE !

2014 Queensland Small Business Week (September 1-5) was a busy time for ACE, with lots of external exposure and great networking. It started on the Monday with the high profile event “Are You a Business Tiger?”, organised by the Small Business Minister’s office, in QUT’s exquisite “Room Three-Sixty”. ACE Director, Per Davidsson, was one of the key presenters-panelists, along with Dhruba Gupta, Paul Niederer, Kit Kriewaldt and Emily Jade O’Keeffe.  Per’s speech was one of “encouragement and caution” – based on research – in relation to canonising the most rapidly growing firms in the economy. The event was also streamed to over 700 participants in regions throught out Queensland.  The Queensland Minster for Tourism, Major Events, Small Business and the Commonwealth Games, Honourable Jann Stuckey MP, closed the plenary part of the event. This was followed by roundtable sessions, many of which were facilitated by ACE and QUT Business School affilates, Paul Steffens, Rowena Barrett, Stephane Tywoniak, John Polichronis, Sukie Sawang, Sandeep Salunke, Tonis Mets, Julienne Senyard and Deb McGregor. Read more

Promoting the culture of entrepreneurship and startups at QUT

QUT Starters promotes a culture of entrepreneurship and startups among students and focusses on experimenting with startup ideas through the use of modern business methodologies such as the lean startup. Their goal is to create a supportive community of entrepreneurs in which teams can be formed, ideas can be generated and startups can learn and grow.

This exciting new group have big plans for this semester, including hosting a number of workshops, guest speaker presentations and competitions with prizes to be won. As well as teaching members the best methods for success, they offer personalised business advice and support to students through their growing network of industry and professional contacts.

Anyone is welcome to join the society and or come along to the events. Check them out on facebook or visit the website at www.qutlean.com

You are invited to join the 2014 Queensland Small Business Week celebrations!

The Australian Centre for Entrepreneurship Research at the QUT Business School will host three events to inspire and build business as part of 2014 Queensland Small Business Week. 2014 Queensland Small Business Week from 1-6 September is a Queensland Government initiative supporting and celebrating the important role of small business in the Queensland economy.

You are invited to attend all or any of these events, registration is essential to secure your place:

Small Firm Growth – Lessons from systematic research

Presented by : Professor Per Davidsson, Director, Australian Centre for Entrepreneurship Research

What is gained and lost when a firm grows larger? Where do “high growth firms” come from; what challenges do they meet – and are they able to sustain their growth over time? What risks and opportunities are associated with different forms of growth, such as domestic vs. international expansion; organic vs. acquisition-based growth; “mere” volume expansion vs. growth through new products and new markets? When should and should not sales growth be accompanied with internal growth in personnel? Last but not least – how are growth and profitability related? Do firms become profitable as a result of their growth, or is it the other way round? During the last 20 years a lot has been learnt from systematic, large-scale research about the drivers, forms, and consequences of growth in small firms. This seminar summarizes some of the highlights in an accessible and entertaining form.

Date: Wednesday 3 September 2014
Time: 1:30 to 2:30 pm
Venue: Gibson Room, Level 10 Z Block, QUT Gardens Point Campus, 2 George Street, Brisbane 4000
Cost: Free
Register to attend

The business creation process: What works and doesn’t work for Australian start-ups?

Presented by: Professor Per Davidsson, Director, Australian Centre for Entrepreneurship Research, and Dr Scott Gordon, Research Fellow, Australian Centre for Entrepreneurship Research.

This seminar reports some main findings from the Comprehensive Australian Study of Entrepreneurial Emergence, which is the largest study of business start-ups ever undertaken in Australia. Well over a thousand emerging and young firms were followed over a six-year period. Four doctoral dissertations; eight reports to the federal Department of Industry, and a range of other works have been written on the basis of this project. The seminar will cover the dos and don’ts of business planning; low-cost strategies to start a business; the challenges of innovation; more vs. less successful start-up processes, and a number of other topics.

Date: Thursday 4 September 2014
Time: 1:30 to 2:30 pm
Venue: Gibson Room, Level 10 Z Block, QUT Gardens Point Campus, 2 George Street, Brisbane 4000
Cost: Free
Register to attend

Entrepreneurship in Australia: How does our start-up activity hold up against other countries?

Presented by: Associate Professor Paul Steffens, Deputy-Director, Australian Centre for Entrepreneurship Research

Australia is not Silicon Valley –but neither is 99% of the US! How does Australia’s level of entrepreneurial actually fare in comparison with other countries? What is the rate and quality of new business formation compared to relevant other countries? Are women, immigrants and different ethnic groups over- or under-represented—and how does their representation compare internationally? Looking beyond small, independent start-ups: Is Australia high or low in “producing” self-made billionaires who created their fortunes based on business activities? What about entrepreneurial initiatives among employees in established businesses? Various types of research actually points a rather bright picture of the state of entrepreneurship in Australia, and even if there are things that could be improved we should perhaps think twice about thinking and saying that everything is much better elsewhere.

Date: Friday 5 September 2014
Time: 1:30 to 2:30 pm
Venue: Gibson Room, Level 10 Z Block, QUT Gardens Point Campus, 2 George Street, Brisbane 4000
Cost: Free
Register to attend

 

These research-informed events hosted by the Australian Centre for Entrepreneurship Research at the QUT Business School are open to business owners, industry, and policy makers interested in the growth of entrepreneurship in Australia. Small business is vital to Queensland’s economy, representing approximately 95 percent of all Queensland businesses and employing almost half of the state’s private sector workforce. These events are designed to provide information that will inspire the entrepreneurial ecosystem and provide networking to build and grow businesses.

For more information about the presenters and the Australian Centre for Entrepreneurship Research visit www.qut.edu.au/business/ace

2014 Queensland Small Business Week is being delivered by the Department of Tourism, Major Events, Small Business and the Commonwealth Games. For more information on 2014 Queensland Small Business Week visit www.business.qld.gov.au/smallbusinessweek

small business week logo

 

Invitation to the launch of the Brisbane Business Excellence Roundtables

Thursday 17 October 2013 5.45pm for 6pm start – 7.30pm

to be held at QUT Gardens Point: The OJW Room, Level 12, S Block

Brisbane is a great place to do business and the Business Excellence Roundtables will bring experienced facilitators and business owners together to help businesses to improve and grow.  Running a small business is hard and sometimes lonely so why not explore how these groups of 8 to 12 business owners and professional business facilitators can help your buisness grow. Read more