.jpg)
@AuManufacturing Conversations
@AuManufacturing Conversations is a regular interview program hosted by Brent Balinski (with other hosts occasionally) bringing you discussions with the folks who are contributing to a critical part of Australia's economy.
We hope to capture something of the variety of manufacturing, its place in the nation, its changing nature, and some of the personalities within it.
From the boutique to the billion dollar, if it's manufacturing and it's Australian, then it likely matters to us. This podcast is an extension of the @AuManufacturing news and analysis website and the community around it, and complements what's written online at www.aumanufacturing.com.au.
Interested in advertising? Get in touch via editor@aumanufacturing.com.au
@AuManufacturing Conversations
Episode 123 -- "Patient capital: how long tech takes at times" with James Walker from BluGlass, Geoff Bell from MicroBioGen, Phil Hodgson from Calix, and Ryan Pollett from BDO
This episode of @AuManufacturing Conversations is the "Patient capital: how long tech takes at times" session recorded at our June 25 Spotlight on Scaling Up seminar. SoSU was hosted by @AuManufacturing in partnership with BDO, the Advanced Manufacturing Growth Centre, and the Australian Business Growth Fund.
The panel featured three high-tech businesses, each of which took many years to develop and prove their technology through to eventual adoption, and each of which remains strongly focussed on R&D. It was moderated by Ryan Pollett, Partner, Audit & Assurance, National Leader, Manufacturing & Wholesale, BDO.
The panel guests are:
* James Walker, Chair, BluGlass;
* Geoff Bell, CEO, MicroBioGen; and
* Phil Hodgson, CEO and Managing Director, Calix.
Episode guide
0:12 – Introduction to the panel.
3:22 – A very brief history of MicroBioGen from CEO Geoff Bell.
4:43 – A very brief history of Calix from CEO and Managing Director Dr Phil Hodgson.
6:46 – A very brief history of BluGlass from Chairman James Walker
10:02 – Baker’s yeast and why MicroBiogen focussed on it.
10:55 – How MicroBioGen made investor money last and kept everyone happy during the long period between Series A and their first customer.
12:10 – Having a platform technology and being tempted by the “bright, shiny ball.”
13:06 – What makes a bad patent, and why the worthwhile IP resides with staff.
13:55 – The gallium nitride semiconductor niche.
15:12 – Maximising R&D investment and keeping management costs down.
17:02 – Government assistance for R&D.
18:02 – Spending two years unravelling a $30 million convertible note.
19:02 – On capital raises: “When the ducks are quacking, feed the ducks”.
20:08 – You can be a listed company that also requires patient capital, but it requires transparency with investors.
22:32 – Why MicroBioGen’s strategy was to work with the world’s biggest and best, and why that took a lot of time and effort.
25:16 – Why Calix looked overseas for partnerships with cement companies.
27:02 – The turning point for BluGlass seven years ago with laser diodes.
29:12 – A few words on convertible notes.
30:50 – Lessons from the heady valuations at the peak of the decarbonisation wave.
33:20 – The dream of creating a GaN chip manufacturing industry in Australia,
34:20 – Be willing to accept a pay cut if you want to be involved in a startup technology company.
Further reading
BluGlass raises $5.3 million in SPP
Winners announced at 2024’s Australian Export Awards
Calix raises $25 million to speed low carbon commercialisation
