Building Queensland's future
Building Queensland has had a remarkable impact on the Queensland Government’s infrastructure development process, as Business Review Australia reports.
Tasked with providing impartial advice to the Queensland Government on key infrastructure decisions, Building Queensland has shown planners across the world what can be achieved in little over 12 months. Cemented into the State’s statutory body with the Building Queensland Act 2015, the advisor has already played a decisive role in government decision making.
“Building Queensland’s vision is to contribute significantly to superior infrastructure decision making for Queensland,” says Chief Executive Officer, David Quinn. “In pursuit of this vision this independent statutory body is providing strong leadership in developing a consistent longer-term approach to infrastructure proposal development and prioritisation.”
“Building Queensland is fast emerging as the pre-eminent source of independent and expert infrastructure advice to government, holding the ability to facilitate investment decisions made by the Queensland Government’s State Infrastructure Fund.”
In its advisory role, Building Queensland draws on domestic and international policy examples in order to first identify emerging issues (these could be in infrastructure planning, policy, assessment and project delivery) then prioritise and advise the correct course of action. As standard, Building Queensland identifies projects that provide the greatest value for money as well as long term benefits to communities.
Building Queensland has also purposely developed a suite of frameworks to assist in the development of quality business cases; these provide a consistent and robust approach to major proposal development.
Quinn adds: “Building Queensland is leading the charge to improve the way the Queensland Government develops infrastructure proposals having developed its own best practice Business Case Development Framework. The Framework ensures that a rigorous and robust assessment is undertaken prior to investment consideration.”
Building Queensland is also consulted on proposals pertaining to infrastructure that are part of the government’s Market-Led Proposals (MLP) framework. This is an initiative bring together innovation, private sector funding and entrepreneurship that works by contracting exclusively with proponents rather than competitive tendering.
Infrastructure Pipeline Report
So how does Building Queensland actually share its advice? Its Infrastructure Pipeline Report presents Building Queensland’s view of priority infrastructure proposals – in various stages of development – by the State Government.
Using an interactive online tool, users are able to chart the progress of sector-specific projects, as well as explore them in more detail by seeing how the need had been identified, the preliminary evaluation work, and the business case for a given project. Interested parties are also able to view proposal summaries online.
Although the first Pipeline Report was only published earlier this year, Building Queensland is already making waves, Quinn explains: “Since the release of the first Infrastructure Pipeline Report in June 2016, three of the four proposals recommended by Building Queensland as being ready for government investment consideration have secured a funding commitment from the Queensland Government.”
He also highlights that Building Queensland’s Infrastructure Pipeline Report supports the Queensland Government by developing better infrastructure proposal development; the Government is better informed while making key investment decisions because, simply put, it has a better selection of projects.
“The Infrastructure Pipeline Report is the first time independent, expert analysis has been used to assess all major infrastructure proposals, including economic and social infrastructure, in development across the Queensland Government,” he adds.
Having advised on a growing number of important projects in the State, Building Queensland has shown in a very short space of time that widening the debate is both needed and achievable. Quin concludes: “In delivering its independent advice to government, Building Queensland is also providing industry and the community with visibility of infrastructure proposals currently being considered. It is stimulating more informed debate, as more Queenslanders are able to engage in discussion on future infrastructure needs.”
Follow @BizReviewAU on Twitter.
Seo JungJin: Who is EY’s World Entrepreneur of 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.”