May 20, 2020

AustCyber: enabling innovation across Australia

Cybersecurity
AustCyber
Government of Tasmania
Tasmania Cyber Security Innovation Node
Allen Jack
2 min
AustCyber: enabling innovation across Australia

Australian non-profit organisation AustCyber has announced the official launch of its Tasmania Cyber Security Innovation Node.

Designed in collaboration between AustCyber and the Government of Tasmania, the company’s new solution promises to expedite Australia’s cyber development and innovation capabilities. 

In the press release, Michelle Price, CEO, outlined how she envisioned the implementation of the Node. “The Tasmania Node will have a particular focus on driving national strategy in the smart cities, Internet of Things (IoT) and marine technology sectors.”

“Growth in the sector locally will attract business investment, create employment opportunities and support Australia’s national security through development of advanced cybersecurity capability,” she said.

A growing sector

With the cybersecurity sector expanding rapidly across the globe, AustCyber’s decision to facilitate the next generation of innovation is well-timed, particularly as the Australian market alone grew from 6% to 8% between 2017/18. 

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As stated on the Australian Government’s website, although the majority of the country’s digital infrastructure is privately owned, the task of securing it must be a responsibility shared between companies, governments and private individuals.

For its part, the Government intends to invest over AU$230mn in 2020 on initiatives and projects to build stronger digital defences. Areas of focus include fostering responsibility, pooling resources and creating incentives for innovation and sectoral growth. 

Bringing in new talent

With the launch of AustCyber’s Node, the country has shown that it’s well on the way to achieving its goal of playing a part on the global cybersecurity platform.

“We are humbled by the industry and community support at the launch today and excited about the opportunities unfolding for the cybersecurity sector in Tasmania,” said Casey Farrell, Tasmania Cyber Security Innovation Node Manager.

“We’re set for a busy year delivering Node activities – including the addition of a cybersecurity stream to the Enterprise incubator, supporting early-stage cybersecurity startups, and numerous community-building activities to continue to bring new talent into the sector,” he added.

For more information on business topics in ANZ, please take a look at the latest edition of Business Chief ANZ.

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Jun 13, 2021

Seo JungJin: Who is EY’s World Entrepreneur of 2021?

EY
entrepreneurs
Leadership
celltrion
Kate Birch
3 min
From just US$45,000 capital in 2003 to a world-leading biopharma giant with revenues of US$1.69bn today, Seo JungJin is crowned EY World Entrepreneur 2021

Seo JungJin, founder of biopharma firm Celltrion, which most recently developed an antibody treatment for COVID-19, has been named the EY World Entrepreneur of the Year 2021, becoming the first South Korean in the award’s 21-year history.

Regarded as one of the world’s most prestigious business awards program for entrepreneurs, the EY Entrepreneur of the Year celebrates visionary and innovative leaders from across 60 countries who are transforming the world and fostering growth.

JungJin, who is now honoroary chairman of Celltrion Group, was up against a worthy cast of entrepreneurial competitors, taking the crown from among 45 award winners across 38 countries and territories.

Speaking during the virtual event, JungJin described his own interpretation of entrepreneurship as something that brings together “a group of people toward a common vision, embracing challenges as opportunities and committing oneself to contribute to the greater good”.

Why was JungJin crowned King Entrepreneur?

A South Korean native and now 63 years of age, JungJin founded biopharmaceutical firm Celltrion in 2003. In the nearly two decades since its founding, Celltrion has lived up to its goal of advancing health and welfare for all by developing ground-breaking drugs to treat autoimmune disease, various forms of cancer and, most recently, COVID-19.

The company, which JungJin started with just US$45,000 and five of his colleagues, has since growth to more than 2,1000 employees with sales permits in more than 90 countries and revenues exceeding US$1.69bn.

According to the panel, JungJin’s story is a shining example of the power of an unstoppable entrepreneur to change the world with the pandel moved by both his incredible story and his purpose-driven leadership, innovative mindset and entrepreneurial spirit.

Described by the chair of the EY judging panel Rosaleen Blair as “representing everything an unstoppable should be” from taking on the world’s biggest health care challenges to consistently creating long-term value for his company, JungJin’s story is one of incredible tenacity and perseverance that the judging panel felt most represented the entrepreneurial spirit.

“He’s taken breathtaking risks, both personal and professional, to found Celltrion and grow it into one of the world’s leading biopharmaceutical companies,” says Stasia Mitchell, EY Global Entrepreneurship Leader. “His passion for creating affordable, life-saving health care and flair for tackling global problems has led to many treatments that have helped millions of people worldwide and was especially evident this past year through the creation of a COVID-19 antibody treatment.”

How did JungJin get there?

JungJin's entrepreneurial journey started at an early age when he worked as a taxi driver to get himself through Konkuk University in Seoul, South Korea. After studying industrial engineering, he rose through the ranks of Daewoo Motor Co. before losing his job amid the carmaker’s financial troubles following the 1997 Asian economic crisis.

Following this, JungJin started collaborating with colleagues to explore business opportunities in different industries, though none delivered lasting success. The turning point came after he attended a talk hosted by renowned scholars, which inspired him to focus on the biopharmaceutical sector.

And so he founded Celltrion with just US$45,000 of his savings. The launch of Remsima, credited with being the world's first antibody biosimilar, quickly moved Celltrion up the ranks of the country's fairly underdeveloped pharmaceutical sector. Celltrion followed this success with the launch of drugs for breast cancer and lymphoma that today are being used worldwide.

With ambitions to be the world’s first in different areas, Celltrion has pioneered numerous uncharted areas to great success over the past two decades, most recently responding to the global pandemic by successfully developing an antibody treatment for COVID-19 and working to ensure a timely supply of the safe and effective treatment.

“When I first started, my vision was to help patients gain access to safe, effective and affordable medicines and thereby enhance the quality of people’s lives,” explains JungJin. “The success of Celltrion has enabled me to expand on this while finding new ways to fuel my entrepreneurial drive.”

 

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