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The Bay Area-Silicon Valley and Australia an Expanding Trans-Pacific Partnership

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The Bay Area-Silicon Valley and Australia an Expanding Trans-Pacific Partnership The Bay Area-Silicon Valley and Australia An Expanding Trans-Pacific Partnership December 2020 Acknowledgments This report was developed in partnership with the Odette Hampton, Trade and Investment Commissioner American Chamber of Commerce in Australia, with and Deputy Consul General, Australian Trade and support from Cisco, Google, Lendlease, Salesforce, Investment Commission (Austrade) Telstra, University of Technology Sydney, and Wipro. Joe Hockey, Founding Partner and President, Bondi Development of the project was led by Sean Randolph, Partners, Australian Ambassador to the US, 2016–2020 Senior Director at the Bay Area Council Economic Institute. Neils Erich, a consultant to the Institute, Vikas Jain, Asia-Pacific Business Head for Engineering, was co-author. The Institute wishes to thank April Construction and Mining, Wipro Palmerlee, Chief Executive Officer of the American Claire Johnston, Managing Director, Google Chamber of Commerce in Australia, for her support Development Ventures, Lendlease throughout this effort and the following individuals for Joe Kaesshaefer, Trade and Investment Commissioner– their valuable input: USA, Department of Industry, New South Wales Jeff Bleich, Chief Legal Officer, Cruise, US Ambassador Michael Kapel, Trade and Investment Commissioner to to Australia 2009–2013 the Americas in San Francisco, Government of Victoria Michael Blumenstein, Associate Dean, Research Damian Kassabgi, Executive Vice President, Public Strategy and Management, Faculty of Engineering Policy and Communications, Afterpay and Information Technology, University of Technology Sydney Leigh Kelson, Program Director, FireTech Connect Chris Boshuizen , Operating Partner, DCVC Dawn Lillington, Executive Director, Australian American (Data Collective) Chamber of Commerce David Brown, Director, Market Entry Services, Susan Lucas-Conwell, Executive Vice President, San Francisco Landing Pad (Austrade) CSIRO (Commonwealth Scientific and Industrial Research Organization) William Caswell, Lendlease Digital Products Group Alex Lynch, Manager, Australia Public Policy and Diana Coatney, Director, Business Development & Trade, Government Relations, Google Sydney and New South Wales–San Francisco Office Pip Marlow, Chief Executive Officer, Salesforce Australia Chloe Cohen, Community Manager, and New Zealand Aussie Founders Network Geoff McQueen, Founder & CEO, Accelo Nicholas Collins, President, Americas, Telstra Excutive Director, Aussie Founders Network Hayden Cooper, Head of Corporate Communications, Zina Moukheiber, Director of Corporate Atlassian Communications, 500 Startups Robyn Denholm, Global Chair, Tesla, Inc. Nick Nichles, Australian Consul General, San Francisco Michael Farrell, Chief Executive Officer, ResMed Vijay Rajendran, Director, Head of Corporate Innovation Tim Fawcett, Director of Government Affairs, Cisco and Partnerships, Ecosystems Group, 500 Startups Australia-New Zealand William Ruh, CEO, Lendlease Digital, Lendlease Viki Forrest, Trade and Investment Commissioner–North Pankaj Srivastava, Chief Technology Officer and Senior America, Trade and Investment Queensland Vice President, Digital Technology, Lendlease Contents A Message from Australia’s Ambassador CHAPTER 3 to the United States ..................................................2 Trade: An Evolving Value Proposition .....................33 Foreword ...................................................................3 California-Australia Trade ........................................ 36 Executive Summary ...................................................4 Bay Area-Australia Trade ......................................... 36 Converging Economic Interests ................................. 4 CHAPTER 4 A Busy Two-Way Street .............................................. 6 Foreign Direct Investment: Trade and Investment ................................................ 6 A Busy Two-Way Street ...........................................39 Coordinated Networks .............................................. 8 Navigating the Obstacles .................................... 41 Conclusion ................................................................. 9 US-Australia FDI ....................................................... 41 Introduction .............................................................10 Cisco Systems: Getting Research to Market ....... 42 CHAPTER 1 Salesforce: Do-it-Yourself IP ................................ 44 Australia Performs in the Global Economy .............11 Google: Every Successful Journey Starts Slow but Steady ....................................................... 12 with a Map ........................................................... 46 A Snapshot of the Economy .................................... 12 Tesla: A Wall That Australians Will Pay For .......... 47 Resources ............................................................ 15 Australia-US FDI ....................................................... 48 Agriculture ........................................................... 15 Investment Growth Trends ...................................... 49 Manufacturing ..................................................... 18 Telstra: Balancing Global with Local.................... 55 Construction ........................................................ 20 Lendlease Embraces Building 4.0 ....................... 56 Banking and Finance ........................................... 21 CHAPTER 5 Healthcare ........................................................... 22 The Australian Community in Northern California .............................................59 CHAPTER 2 Australia Strengthens Its Innovation System ..........25 A Colorful History .................................................... 59 A Snapshot of the Innovation System ...................... 26 Building Today’s Community ................................... 60 Innovation Activity ............................................... 26 Academic Connections ............................................ 61 Digital Innovation ................................................ 26 UTS Seeks Industry Partners to Commercialize Research ................................. 63 Entrepreneurship ................................................. 27 Supporting Digital Democracy and Security ...... 64 Startup Finance ................................................... 27 Coordinated Networks ............................................ 65 Research Spending and Output .......................... 28 Startups and Venture Capital .............................. 65 Innovation Connections ...................................... 29 Government Trade Promotion and Investment ... 66 Skills and Capability ............................................ 30 Strategic Connections ......................................... 67 Innovation Capability .......................................... 30 Business and Professional Support ..................... 70 The Vision for Australia in 2030 ............................... 30 Growing in the United States ................................... 71 Education ............................................................. 30 Space Entrepreneur ............................................. 71 Industry ................................................................ 30 Afterpay: A Retail Fintech Survives COVID-19 .... 72 Government ......................................................... 31 ResMed: Respiratory Care and Research and Development ................................ 31 Digital Transformation in the COVID-19 Era ....... 73 Culture and Ambition .......................................... 31 Government Support for Innovation ....................... 31 Conclusion ...............................................................75 Public-Private Collaboration ................................ 31 Cross-Border Opportunities ................................ 32 Notes .......................................................................76 Growing Innovation Through Immigration .......... 32 A Message from Australia’s Ambassador to the United States The relationship of California and the San Francisco Bay Bay Area’s commercial Area with Australia is long standing and ever growing. world through people It goes back one hundred and seventy years, shaped by like Robyn Denholm, strong people-to-people links and common values that Chair of Tesla, to name we have not been afraid to fight for, together. but one. On 4 July 2018, Australia and the United States Australia even managed celebrated the first 100 Years of Mateship. The to penetrate the rarefied mateship forged in battle is the bedrock of a unique halls of American contemporary relationship that carries across college sport through government, business, and societies. San Francisco Saint Mary’s College was once the staging area for many US soldiers, sailors successful recruitment of and airmen who fought alongside their Australian Australian talent to lead counterparts during the 20th Century. its basketball program to several appearances in the NCAA tournament. Current NBA players Patty Mills and Today Australia and the United States are forging a Matthew Dellavedova are Saint Mary’s alumni. new partnership that embraces science, technology, Major Bay Area companies with operations in Australia and innovation to build the industries of the future. that are headquartered in the region include Apple, The United States-Australian relationship in the San Chevron, HP, and Alphabet (Google). There are over Francisco Bay Area is integral to that
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