vcamm brochure 2012
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Victorian Centre for Advanced Materials Manufacturing
ACCelerAting innoVAtion
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Victoria has considerable skills in adVanced materials and adVanced manufacturing technologies and Vcamm’s role is to proVide businesses with managed access to this expertise.innoVation is a key driVer of our economy and Vcamm will further enhance the ability for our local manufacturing businesses to innoVate.
hon. richard dalla-riva mlc, minister for manufacturing,
exports and trade, Victoria
foreword
for several years Vcamm has been supported financially by the Victorian government. our purpose is to
assist manufacturing companies connect to Victorian universities and other publically funded r&d activities,
to “commercialise” the results of research in materials engineering, and to apply advanced materials to new
manufacturing technologies. we have identified emerging market “demand-side” factors, and constructed
appropriately qualified teams to meet realistic development milestones.
the time-scale for this work is longer, and often more technologically complex, than most australian
manufacturing companies can tolerate. the future returns are not easy to calculate by traditional financial
valuation techniques, so Vcamm provides a bridge between available early venture-capital funding and
in-house company funding. in australia, we have virtually no sources of early stage start-up, or angel/seed
funding, and we have very few people able to manage the evolution of technology into stable companies.
Vcamm has been able to provide this type of patient
finance for appropriately researched ventures with
market potential, and staff who are proving adept at
managing the many challenges. we greatly appreciate
the foresight of the Victorian government in recognising
the risk of market failure in our emerging high-
technology manufacturing industries. support for
the Vcamm innovation centre at knoxfield has been
vital in allowing the development of several fledgling
companies, with brilliant local technologies and will be
key to our future accelerating innovation.
brad dunstan,
Vcamm chief executive officer
dr colin adam,
Vcamm chairman and
independent director
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we help businesses deliver on key elements for success including:
technologyo developing a business case for research investment
o establishing product and process needs
o identifying technical research and development requirements
o identifying and engaging the right research partners
o designing and managing research projects
o technology development and ip management
businesso b2b orchestration and technology transfer
o strategic and business planning
o identifying potential business partners
o market development for new technology or innovations
o mentoring and specialist manufacturing business management
and operational advice
o access to industry research, business, government and
investment networks
o incubation and space for new businesses or new projects at the
Vcamm innovation centre
o commercialisation of innovations and intellectual property
financeo providing pre-seed and incubation funding
o assistance sourcing and applying for government grants
o matching businesses with potential industry-based or
independent investors
o conducting financial evaluations and due diligence tests or reports
Vcamm is the Victorian centre for advanced materials manufacturing. we are a not-for-profit company established specifically to improve the competitiveness and sustainability of the state and the national advanced manufacturing industries through orchestrating innovation and development of leading businesses and technologies.
Vcamm making your business more competitiVe
our mission is to help australian manufacturing businesses develop new ideas, solve problems, find new markets and partners, and attract investment. Vcamm was formed in 2002, and we are backed by a consortium of leading public research and development organisations, with support from government.
Vcamm also provides a wider role in the development of strategic capability within the australian advanced materials and
innovators:skills & resources
start-ups:incubation & investment
r&d:industry partners
government:innovation –driven
industry
manufacturing firms:
project support
strategic infrastructure:
catalyse new industrylarge corporates:support for spin off ip
Vcamm technology,
business & financial
support
investors:portfolio of
opportunities
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typical capabilities our research partners can provide include a broad range of engineering consulting and research services, with expertise in materials testing, materials development and process development:
o a range of engineering capabilities from materials characterisation
to mechanical testing and design, through to aerospace and civil
engineering expertise. specialisation in nano-structured materials,
with the knowledge required to take advantage of nano-structural
manipulation of materials for large scale, application-specific
tailoring of properties.
o in-depth experience in modelling and stress analysis for
components, mechanisms and production methods. this
expertise crosses all of the materials boundaries (composites,
ceramics, metals and polymers) and extends, in scale,
from materials and materials interface investigation and
manipulation to full production modelling and factory layout
analysis.
o advanced surface analysis, both topographical and chemical,
with the ability to discern surface properties down to the nano-
metre scale. the capability to modify surfaces at the nano-
scale, improving the properties of films, adhesion layers, and
even assisting in the forensic sciences. researchers can tailor
surfaces to demonstrate a range of specific characteristics.
o advanced manufacturing techniques. these include
development of rapid production using laser technology and
non-contact measurement of surface contours.
o a full suite of testing equipment for analysing engineering
components, under a range of conditions and simulations.
Vcamm is backed by a consortium of australia’s leading materials and manufacturing focused research organisations including deakin university, la trobe university, monash university and swinburne university of technology.
with our consortium partners we can help businesses to access the world-class expertise and facilities that these organisations offer. this includes some of the most advanced technologies and research science available in australia as part of engineering, materials and science related faculties and multiple centres of excellence. it also includes access to business schools and the extensive international research and development networks of consortium members.
each research partner has different strengths and is recognised as a world-leader in its specific fields of expertise. the differences between the research capacities provided by each can be subtle, but can have a profound impact on the outcomes of a project. our experience allows us to help identify the most relevant research partner or partners for your specific project. this may mean coordinating the resources of multiple institutions.
Vcamm’s consortium partners are the first port of call for research needs, but we also have access to other research organisations and networks, both nationally and internationally.
technology
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collaboratiVe research networks
part of Vcamm’s role is to help build industry’s innovation capacity and to promote the capabilities of australian advanced manufacturing and materials industries. to this end we have helped to establish two cooperative research centres (crcs), which enhance national research collaborations and links with industry.
our active participation in these centres and other collaborations provides individual businesses with an access portal, which allows them to participate in large federally funded initiatives to conduct research projects and access new technologies that they would be otherwise unable to access.
advanced manufacturing crc (amcrc)
Vcamm is a founding member of the amcrc, created to
support the development of knowledge-based, high value,
globally competitive and sustainable manufacturing businesses.
research areas include advanced materials, next generation
manufacturing processes and knowledge-based business
practice for manufacturing sectors. industry sectors involved
include aerospace, biomedical, defence, energy, equipment
manufacture, fine chemicals and mining. through the amcrc
Vcamm can help businesses develop greener technologies for
their manufacturing processes, supporting more flexible and
sustainable operations.
defence materials technology centre (dmtc)
Vcamm is also a member of the defence materials technology
centre (dmtc). the dmtc aims to develop and deliver
new materials technologies and manufacturing processes
specifically to enhance australia’s defence capability. it
involves collaboration between defence, defence industry
and research agencies. projects a focused into five areas: air
platforms, maritime platforms, armour applications, propulsion
systems and personnel survivability. dmtc project outcomes
include increasing strength, payload capacity and operating
range of equipment, improving performance and durability of
equipment, increasing efficiency in production, reducing costs
and waste and customising equipment for specific australian
conditions. Vcamm is working with dmtc on a number of
projects to develop new technologies for a number of australian
businesses.
australian future fibres research and innovation centre (affric)
Vcamm is a partner in the world-leading australian future
fibres research and innovation centre (affric) in geelong. the
centre is building australia’s carbon fibre and advanced textile
research capabilities to support innovation in the automotive,
aeronautical and protective clothing industries. research will
focus on a range of innovative materials including nanomaterials,
smart fibrous materials, green natural fibres and carbon fibre.
advanced automotive technology crc (autocrc)
Vcamm helped establish autocrc with the aim of enhancing
the viability and sustainability of the australian automotive
industry. design and modelling research will help to increase
the rate of product and process innovation, reduce design
and development times, improve the quality of products
and accuracy of processes, and reduce the time it takes to
get products to market. reduced concept-to-product cycle
time represents a paradigm shift in process and production
methodologies, aimed at improving manufacturing flexibility and
efficiency and developing new material systems to meet the
automotive challenges of weight reduction, increased safety
and enhanced functionality. Vcamm can access research
and industry partners through the autocrc.did you know?
Vcamm is also a member of a number
of well respected international research
collaborations.
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case studycarbon fibre research facility to expand industry capability together with deakin university and the Victorian state
government, Vcamm is leading a strategic investment of $25
million to establish the australian carbon fibre research facility
(acfrf) in geelong. the acfrf is a world first university
connected open access research and development pilot plant
to support the growth of new carbon fibre based businesses in
australia.
the acfrf is part of the larger $100m australian future fibre
research and innovation centre (affric) which is expected
to create an international hub for fibre science and materials
research and build national capacity in the carbon fibre industry.
the centre is being established at deakin university in waurn
ponds as part of the geelong technology precinct and is co-
located with csiro’s textile and fibre facilities. it will provide
access to industrial and pilot-scale facilities to translate research
into end-user applications.
deakin university’s deputy Vice-chancellor (research),
professor lee astheimer said the centre will bring together
australia’s foremost fibre and manufacturing scientists.
using sophisticated equipment and with strong commercial
partnerships, the centre will be recognised as an international
leader in new materials industries.
facility anywhere in the world. it will be capable of producing
commercial quantities of aerospace quality carbon fibre.
the research facility will make the region attractive for carbon
fibre commercial production and manufacturing products such
as airplane fuselages and blades for wind turbines. it is expected
to be operational in 2012, and to generate more than $1 million a
year in research income from industry within five years.
through its links with global aerospace and automotive
companies who will use the facility, Vcamm is well placed to
help australian businesses evolve into carbon fibre composite
manufacturers and to help introduce them into the global supply
chain.
deakin university’s centre for material and fibre innovation
(cmfi) already has an international reputation in advanced
composites and fibre research with extensive partnerships with
the aerospace and automotive sectors. csiro brings expertise
and equipment in commercially critical areas such as 3d
weaving and surface finishing.
exceptionally strong and light, carbon fibre is a defining material
for 21st century manufacturing. research to extend its properties,
functionality and production is undeveloped globally.
by leveraging the combined expertise and equipment of
the partners, the facility will offer an institutionally-based,
industrial-scale carbon fibre capability. there is no equivalent
did you know?
it is expected to be operational in 2012, and to generate more
than $1 million a year in research income from
industry.
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case studyautohorizon fr1: fostering innoVation in the auto industryfor the past nine years, the charitable foundation ‘autohorizon,’
has been developing the fr-1 concept vehicle – a one-off, hand
crafted, high performance vehicle that showcases australian
automotive design and manufacturing.
it is also being used to develop and design related study
programs for secondary, tafe and tertiary students, to encourage
students to consider automotive design and manufacturing
related careers. the vehicle has the hot-rod styling of the
roadsters of the 1930s. it was designed with assistance from
gm-holden and built at the automotive centre of excellence
(ace) in melbourne, under the direction of brian tanti, curator of
the world class fox collection of classic vehicles at docklands.
Vcamm is one of 90 sponsors for the project and has made a
major contribution with full time engineering staff leading the
engineering of the vehicle including the design and construction
of the carbon fibre composite monocoque chassis.
the carbon fibre ‘tub’ weighs around 80kg, and showcases
several new composite technologies developed locally. these
include a low temperature, out-of-autoclave curable carbon
fibre prepreg, suitable for high strength applications, which was
provided by gms composites. this newly formulated material
is oven-cured under vacuum pressure and provides comparable
strength to autoclave-cured materials, without the costs
associated with running an autoclave.
Vcamm and bellmont nominees developed low cost tooling
for the carbon fibre tub capable of producing parts with minimal
temperature distortion and a class ‘a’ standard surface finish.
the chassis was laid-up in two moulds, and bonded together
using aerospace-grade, high strength adhesives and curing was
conducted at boeing in port melbourne.
fr-1 is powered by a mid-mounted holden V8 engine. this
is mated to a ferrari 355 transmission and along with the
suspension is carried on chromoly subframes mounted to the
carbon fibre chassis.
supplied by diver consolidated industries the unequal length,
double wishbone rear suspension and a unique hydraulically
actuated front in-wheel hub suspension ensure the lightweight
chassis stays on the road.
all of this technology is covered by a hand crafted aluminium
skin, coach-built using a wooden buck and traditional coach
building techniques.
fr-1 will be auctioned, with all proceeds being donated to four
children’s charities.
the fr-1 project is expected to be completed in 2012.
for more information on the fr-1 project, please
visit: www.conceptfr1.com.did you know?
the fr-1 carbon fibre chassis is the
first composite chassis built in australia!
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“ to maintain the company’s competitiVe adVantage, we were keen to expand its carbon composite component manufacturing capabilities and sought Vcamm’s help to undertake a research and deVelopment program.”
al d’alberto, bellmont nominess
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business profile case studycarbon composite research proVides competitiVe edgeinvesting in carbon fibre research is helping bellmont nominees
to convert its business from high-volumes of low-technology
automotive components towards a low volume-high value model.
the business is a privately owned engineering, painting and
composites company that has been operating in Victoria for
more than 30 years and is an integral supplier to the automotive
and truck industries.
bellmont already has a reputation for flexibility and innovation,
specialising in exterior vehicle components in a variety of
materials that require an a class surface finish. its core business
has been the supply of painted and assembled parts: front and
rear bumpers, side skirts and spoilers, as well as truck cabs,
fairings, and skirts.
managing director al d’alberto says that to maintain the
company’s competitive advantage, it was keen to expand its
carbon composite component manufacturing capabilities and
sought Vcamm’s help to undertake a research and development
program.
he said they wanted to evaluate whether out-of-autoclave
forming could reliably produce complex composite automotive
components such as front fenders and bonnet scoops, while
meeting quality, surface finish, manufacturing speed and cost
the payback period for the research and development, and the
new tooling and equipment required to produce the new carbon
composite component is 32 months. mr d’alberto says within
five years of adopting the new system he expects the return on
investment to be substantial.
requirements. its research and development program tested
out-of-autoclave forming with the Quickstep system.
Vcamm was able to link bellmont with research opportunities
available through cooperative research centre funding.
being a small company, bellmont would have been stretched
to undertake a project as extensive as the one embarked on
through the amcrc. Vcamm also helped to secure Victorian
government funding to assist with the research, which began in
2008.
mr d’alberto says there is no doubt that Vcamm’s assistance in
putting together the opportunity and the support of the Victorian
government cemented the go-ahead for this project.
apart from brokering the project, Vcamm has been involved
in project managing the whole activity, acting as the liaison
between bellmont, and the research provider, deakin university.
deakin’s role has been to carry out research and development
of new carbon fibre automotive components, working alongside
engineers and technicians at bellmont nominees. this work
includes investigation into new composite materials, curing
techniques, tooling, design for manufacture, and the required
a-class surface finish.
at a glance company: bellmont nominees, kilsyth, Victoriaindustry: automotive component and composite materials manufacturingsummary: an automotive component manufacturer invests in a research partnership to develop new carbon fibre composite manufacturing capabilities that will allow it to diversify and remain competitive.Vcamm assistance: brokering research, securing r&d grant funding for research, research project management
did you know?
carbon fibre is 3 times as strong and 4 times
lighter than steel.
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knowledge-based manufacturing
manufacturing in australia is under immense pressure – squeezed between declining prices and the rising cost of raw materials. there is less and less room to manoeuvre between operating costs and profits.
supply chain management improvements and lean manufacturing strategies are critical for survival but are no longer enough in a dynamic global environment to ensure a sustainable and prosperous business.
across the developed world manufacturing is increasingly moving to an innovation-driven economic model. competitive performance depends less on input costs and production efficiencies and more on the capacity to efficiently and sustainably produce innovative, leading-edge technology goods and services.
knowledge management, value networks and intercompany collaboration provide the basis of the agility businesses need in an innovation economy to continuously and reliably develop high-value integrated products and services. these collaborative mechanisms can be provided through Vcamm.
Vcamm provides tailored assistance along the innovation spectrum and can help connect firms with appropriate expertise to assist with business strategy, planning and knowledge-process improvements.
business
initiation selectionproduction
development
innoVation processes
market realisation
innoVator
Vcamm
research institutions industry partnersgovernment investors
characteristics of knowledge based manufacturing businesses*:
o self-sustaining innovation permits efficient uptake of new
technologies in parallel to the development of new products –
thereby reducing time to market;
o much closer coordination exists between the demand and
supply sides
o sharing of knowledge within and between organisations
becomes the norm;
o supply chains take the form of flexible collaborations, networks
of specialised small and medium-sized enterprises (smes) and
‘virtual enterprises’;
o well-defined work procedures and specifications are
commonly used to maximise efficiency;
o social, environmental and economic considerations get equal
weight in decision making; and
o provision of services, rather than the outright supply of goods,
facilitates
* definition from manufuture eu initiative, wwwmanufuture.org
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initiationinnovation requires the right environment to thrive; new ideas can
be fragile. customer needs must be matched with technological
capabilities, and a framework is needed to articulate and build
substance into the innovative concept.
o Vcamm provides a framework and culture for innovation through
its regular dialogue and activities with a broad network of industry
and research associates and through the Vcamm innovation
centre, which provides an environment for repeated innovative
engagement.
o in particular, Vcamm conducts ongoing campaigns involving both
individual communications and broader forums to raise awareness of
new technologies and trends and to connect capabilities, skills and
resources around commercial opportunities.
o Vcamm also initiates technology-based opportunities where these
provide a strategic platform around which a variety of businesses
can engage and prosper.
o initial consultations with Vcamm is generally free and our staff
are always keen to meet with firms and explore needs, issues
and opportunities to leverage skills and build pathways to
commercialising innovative technology.
deVelopmentimplementing a technology-based innovation is a business
investment. in some ways it is similar to purchasing a new piece
of plant or equipment, but the risks and returns are much greater.
failing to invest in innovation or investing poorly can lead to
long- term decline; success leads to sustainable prosperity and
provides a base for ongoing growth.
innovation investments include modelling, prototyping, validation
and field testing in the development of new products and
processes. the rewards may be substantial but the considerable
investment required to investigate an uncertain outcome can
make the decision to invest in innovation more difficult than the
decision to invest in infrastructure or equipment.
being able to leverage this investment with contributions
from collaborating partners and/or government grants can
make the difference to whether a project proceeds or not. the
most successful outcomes come from teams that incorporate
specific expertise and perspectives across business functions
and between organisations in a reliable process, and from
development processes that engage customers and incorporate
their feedback.
o Vcamm offers a variety of services to firms in the implementation of
technology innovations, including case management (for
government grants and programs) and regular project evaluation
as well as connections with experienced, skilled resources and
service providers
o Vcamm is able to host development teams at the Vcamm
innovation centre where they are co-located with other innovative
ventures and able to access a variety of resources and expertise.
selection generating interesting ideas is one thing. developing them into
a commercial proposal with a verified, viable business case
and getting the commitment of key resources is quite another.
inevitably, firms and key collaborating organisations have a
portfolio of opportunities competing for investment of time,
resources and money.
priority should always go to innovations that are thoroughly
assessed and well planned, presenting a sound business
case for investment. in many cases, this requires preliminary
investigations or feasibility studies to establish technical and
commercial feasibility and eliminate significant uncertainties.
these studies may be beyond the capabilities of the innovator
alone and they also require the involvement of key customers,
suppliers and technology experts.
o Vcamm can help firms and technology entrepreneurs develop their
business model and commericalisation strategy including selection
of critical partners, identifying sources for key resources and funding
options.
o Vcamm can help evaluate technical and commercial feasibility. in
some cases this may require access to expertise from collaborating
firms or research institutions. it may also require access to
experimental facilities or manufacturing space which Vcamm can
support through the innovation centre or through partner research
organisations.
o the work required to get stakeholders to formally commit to
proceeding with a technology innovation initiative can vary
substantially. in many cases, Vcamm services in this area can be
provided through leveraging government programs. in some cases,
a contribution to feasibility project costs may be required from
participants.
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o Vcamm can also provide experienced project management
services to development teams, which can be particularly
valuable in projects requiring coordinated activity across multiple
organisations.
o innovators may be able to access financial support through
Vcamm’s involvement in several cooperative research centres
or through co-investment in initiatives by Vcamm directly or via
partners
productionin parallel with the implementation of an innovation project,
and the ramping up of operations, additional investment is also
required to provide the infrastructure to deliver the products and
services to the market.
this might involve retooling for production. in the case of
advanced technology projects it might also involve reconfiguring
or rebuilding organisational structures and commercial
agreements.
for new business start-ups, the organisation itself must be
established and scaled up. it is at this stage that new enterprises
are most vulnerable as expenditure peaks prior to the scale-up of
revenue inflows.
o Vcamm can facilitate connections to customers, suppliers, co-
investors and co-funders, which can often be critical to enterprises
at this stage of the innovation cycle.
o the Vcamm innovation centre and research consortium partner
facilities may also be available to establish full-scale pilot production
lines under the scrutiny of development teams prior to transferring
to permanent locations.
market realisationas production investments ramp up, it is essential that the
sales strategies and resources, including personnel, are in place
to ensure secure sales and service markets. as the business
becomes profitable and grows, market feedback should be
leveraged to recommend refinements and new generations of
the innovation.
o firms can leverage Vcamm’s local and international networks and
advocacy to support effective marketing, procurement and sales
operations.
o Vcamm project management services and other supports,
including financial assistance are usually phased down as the
Vcamm innovation centre, knoxfield
Vcamm’s innovation centre at knoxfield is designed to
support the incubation of business start-ups, providing space
and ongoing mentoring and access to business support
services and technical expertise.
this new centre provides a focal point for advanced
engineering projects in a flexible environment. it caters for
a mix of industry and research collaborations, from small
start-up companies to project teams from larger established
organisations.
an important element of the centre is the potential for
interaction between different businesses and sectors of the
advanced materials and manufacturing industry, allowing
enterprises to develop globally relevant new technologies in
a unique incubative environment.
Vcamm innovation centre provides comprehensive business
incubation support to technology based start-ups:
o flexible office/factory space and terms
o staged financial support
o facilitated process and network
it also provides a collaborative facility and operating
framework that will allow businesses to work on projects
with university researchers and the centre’s technology staff
together as a team.
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brad dunstanchief executive officer
bsc beng(mech), grad dip mil av, maicd
adjunct professor (deakin university)
brad has provided leadership for Vcamm since its inception in
2002, and has been instrumental in
growing an entrepreneurial organisation focused on building
innovation capability in the local manufacturing industry.
brad has helped create new and exciting opportunities such as
new cooperative research centres and the australian carbon
fibre research facility. he plays an important role in promoting
Victorian and australian advanced manufacturing capability in
both national and international forums. brad has a background
in science, engineering and senior management. brads career
has involved operational roles in the royal australian air force
and senior positions within the australian automotive industry
with general motors and holden special Vehicles where he was
chief engineer before moving to Vcamm. brad is a councillor
on the federal government’s future manufacturing industry
innovation council (fmiic) and member of the Victorian
government’s small business advisory council where he
leads the manufacturing working group. he is also a director
on the boards of a number of advanced manufacturing related
businesses and the advanced manufacturing cooperative
research centre.
david owengeneral manager
b.eng (mech) 1st class hons
david is responsible for the day to day operations of Vcamm including
technology research project management and commercialisation
activities. he has more than 25 years of experience within the
manufacturing industry. he has a wealth of knowledge in product
development, operational and financial management and business
strategy, gained both in australia and overseas, experience that offers
significant value for clients. prior to joining Vcamm, david held senior
positions in industry working with holden special Vehicles and a
number of fortune 500 manufacturing companies (general motors,
general electric, borgwarner), and he has served on the boards of
several manufacturing and tech start-up companies.
iain ralphenterprise development manager
b.eng (mech), mba (tech management)
iain is responsible for promoting Vcamm’s innovation centre,
identifying and working with firms who may benefit from the
facilities and services offered at our knoxfield location. he also
helps clients to commercialise their activities, whether that
be new start-up businesses and technologies or refinement of
existing technologies and processes.
with a background in a variety of industry and consulting
roles, iain has been responsible for business process
improvement, general management, business development,
product development, manufacturing and management of r&d
portfolios.
he has a solid understanding and passion for business,
entrepreneurship and the management of innovation as
the foundation for building viable, profitable manufacturing
enterprises.
lisa ratcliffe commercial manager
assoc dip accounting, b.a.
lisa ratcliffe is Vcamm’s company secretary, but with
extensive experience in finance, administration and corporate
government she is able to act as a mentor for start-up
businesses as they establish their business and compliance
structures.
lisa has more than 20 years of experience in accounting and
the financial sector, working with the major accountancy firm
bird cameron, roles as senior financial manager in private
enterprise and with the Victorian state government. more
recently, she was the finance manager for the international
fibre centre and has extensive experience in the not-for-profit
sector. as Vcamm’s commercial manager, lisa oversees
and directs all significant aspects of Vcamm’s finance,
administration, accounting, treasury, risk management and
financial compliance operations as well as leading a financial
team providing support services to a number of start-up and
Vcamm incubated businesses.
our expertiseVcamm has a dedicated team with many decades of technical and business experience, committed to advancing australia’s
advanced materials and manufacturing capacity and competitiveness. key staff who provide the liaison between clients,
research providers, industry, government and investors include the following.
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“ what you need is time and financial support to bring an idea through to commercialisation. goVernments are generally risk adVerse, and it can be a challenge to attract independent inVestors with a new technology, untested inthe market place. this is where Vcamm can help.”
tony duncan, circa pty ltd
circa group (l to r),greg court,stephen lawrence,
dr warwick raverty,tony duncan
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business profile case studyseed funding and support for cellulose technologyit has been more than a six-year journey for the trio of inventors
behind a breakthrough cellulose recycling process. they have
created a new thermochemical process known as furafuel that
converts waste products such as paper and straw into valuable
industrial and pharmaceutical chemicals. the resulting products
provide an alternative to petro-chemical based ingredients used
in a wide range of products from medicines to agrichemicals,
solvents and polymers.
the developers are tony duncan, dr warwick raverty and greg
court. all three have decades of experience in the paper industry.
together, with a small number of co-investors, they formed
circa group pty ltd to develop and market their new process
and products. circa ceo tony duncan says the period between
developing the process and scaling it up to a commercial level has
been a difficult one for the company, as it is for many start-ups.
“what you need is time and financial support to bring an idea
through to commercialisation. governments are generally risk
averse, and it can be a challenge to attract independent investors
with a new technology, untested in the market place,” he says.
the three founders of the circa group had already done the hard
work in developing and verifying a new chemical process when
they first approached Vcamm for assistance. through Vcamm,
circa has been able to source seed funding that has allowed
it to continue to scale up its furafuel process from laboratory
the initial focus may have been on a productive use for the 1.5
million tonnes of paper that ends up in australian landfill each
year, but the emerging technology has significant international
potential to produce valuable chemicals from a range of other
cellulose-based wastes.
Vcamm is also helping circa to make new investment and
market contacts through its extensive networks and tony says
efforts are beginning to pay off. Vcamm introduced circa to
a Victorian manufacturing company looking to diversify and
helped broker an agreement between the organisations to allow
the manufacture of the first industrial scale unit with minimal
investment from both sides. chinese investors are among those
showing the strongest interest in the furafuel system because
it offers a modular, scalable design and the process can be
operated by local expertise. this means it can be established
where the fuel stocks are located, rather than having to transport
fuel stocks to a central location.
it is energy self-sufficient, does not need to generate a strong
vacuum, can tolerate variable moisture levels in its feed stocks,
and does not use food products as fuel stocks as some biofuels
do. the process actually produces water, and also char, which
could potentially be used as a soil conditioner.
tests producing one kilogram of chemicals a day to a larger
proof-of-concept assembly line producing 10kgs a day, and are
commissioning a pilot plant, which will convert 100kgs a day.
“often, when you are looking for early stage investors,
the cash to equity trade-off can be crippling, but Vcamm has
been very supportive and we were able to negotiate an equity
deal that allowed us to stay in charge of the business we
founded,” tony says.
Vcamm has been a shareholder in circa since 2010. it has
also provided a new location for circa that includes office and
laboratory space at the Vcamm innovation centre in knoxfield.
“before we were in a small factory by ourselves. it is good to
have space in an office that provides support services, and where
there are other people around to interact with. it’s also a relief
to go back to developing our business instead of worrying about
whether there’s a leak in the roof that needs fixing,” tony says.
business support provided by Vcamm includes an assessment
of the company’s corporate governance processes. tony says it
has put more rigour into business management practices, and
this would help give other potential investors more confidence in
the soundness of the business. Vcamm enterprise development
manager iain ralph says the circa technology has some amazing
potential particularly given its positive environmental footprint.
at a glance business: circa group pty ltd, knoxfield, Victoriaindustry: chemical manufacturingsummary: a start-up company with a break-through proprietary thermochemical technology adding value to cellulose feedstocks such as waste paper, finds a home base with VcammVcamm assistance: office facilities, business development and networking, seed funding.
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incubation fundingVcamm operates an incubator support fund to seed advanced
technology manufacturing start-ups and early stage enterprises.
if a piece of intellectual property shows commercial promise,
Vcamm can invest in and develop that idea, re-investing royalties
into other business partnerships.
the fund provides seed capital to:
o entrepreneurial ventures spun-out from Vcamm’s consortium
partners and other research organisations
o independent ventures in advanced manufacturing and material
technology fields, either start-ups or corporate spin-off initiatives.
an independent investment board is used to assess and
make investment decisions and Vacmm’s management and
administrative staff closely monitor the investments and work
with businesses to achieve agreed outcomes.
Vcamm may also become a co-investor in a new business by carrying
out work ‘at cost’, in return for royalties or equity.
goVernment grantsVcamm has a thorough understanding of state and federal
government funding and grant opportunities – a critical area for
small organisations faced with the sizeable development costs
that precede commercialisation.
we help identify and leverage the opportunities that exist in
public funding; we offer assistance to businesses in identifying
opportunities and in grant application requirements; we liaise with
state and federal governments. direct inVestmentidentifying potential opportunities in the science sector for industry
and independent investors can be a challenge for the uninitiated.
Vcamm can connect businesses to potential third party investors. we
have a strong relationship with the venture capital community and
our proposals attract the serious consideration of potential investors.
potential investors may also be other businesses with complementary
interests considering investment through a business partnership
arrangement. all investment partnerships are treated as
commercial in confidence. direct investment partnerships
include an exit strategy to ensure that future financial
structures are not impeded.
funding research and development is a major challenge. Vcamm can help your business meet this challenge.
finance
ip eValuationsinvestment at all levels requires rigorous technology and
opportunity evaluations and due diligence reports to assess
the risk and provide confidence to investors. Vcamm has
the expertise in technical assessment of intellectual property
to support business case development, technology portfolio
planning and financial decison making.
did you know?
Vcamm has been successful in raising over
$100 million in state and federal funds for its
technology partners.
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amsterdam fab lab at the waag society
creating a fab-lab
in the future the Vcamm innovation centre expects to host
a ‘fab lab’ – a concept created by mit in the united states.
the global network of local not-for-profit labs has already
been established in 16 countries around the world.
a fab lab creates a shared space for research, invention,
problem solving, learning new skills and collaboration. it
provides access to tools for digital fabrication – tools often
only available in commercial-scale organisations.
equipment available in fab labs generally includes an array of
flexible computer controlled tools that cover several different
length scales and various materials, with the aim to make
almost anything. commercial activities and new enterprises
can be incubated through access to a fab lab’s equipment,
although the lab remains essentially an open access venue.
supported technologiesVcamm has undertaken key projects, incubated businesses,
held shares and invested in a number of advanced technology companies including:
cell growth scaffolds – cytomatrix
surface wear coatings – hard technologies
carbon fibre process – Quickstep technologies
armour tech – australian defence apparel (ada)
automotive carbon fibre – bellmont composites
nanotechnology – micronisers
fluid mixing – tasweld engineering
tyre recycling – Vr-tek
rapid fluid heating - microheat technologies
biomass and high value chemicals – circa group
carbon fibre structures - autohorizon fr1
continuous enhancement of sheet metal alloys - cecap
solid oxide fuel cell technology - ceramic fuel cells ltd
dendrimer nanotechnology products - starpharma
anti-cancer therapeutics - prima biomed
x-ray phase contrast imaging technology - xray technologies
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“ the immediate follow on was that Vcamm introduced us to the Victorian science agenda program and to a collaboration focused on producing new technologies for bushfire protection”
Jim griffin, diver consolidated industries
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from its origins in 1935 as a supplier to the automotive industry,
the family-owned engineering firm diver consolidated industries
has recently diversified its interests to ensure a future that is less
reliant on a shrinking local automotive industry.
diver consolidated industries had sought Vcamm’s help to
identify technical and business opportunities that would allow
it to diversify and value-add to its core capabilities to reduce the
exposure to automotive and find new growth sectors.
diver ceo Jim griffin says economic conditions were affecting
the engineering business. markets for their core services were
contracting and sales volumes halved, which forced them to
downsize parts of the business.
“at the same time we were on the lookout for opportunities that
would complement our own, where we could bring our expertise
and financial muscle together with our export experience and
networks for mutual benefit,” Jim says.
Vcamm initially identified the opportunity to provide stamped
metal plates for microheat’s new highly advanced systems
for rapid heating of fluids for both domestic and industrial
applications. the new technology, protected by a family of patents
in more than 52 countries, saves energy, water and greenhouse
gas emissions, and has enormous global potential, particularly in
the developing green economy.
“we worked with Vcamm and could see that our advanced
automotive heat shield materials would ideally be suited
to applications for both domestic dwellings. as a result of
significant testing and development we have been able to
develop new radiant heat protective window curtains for use on
houses and buildings.
there are a number of new opportunities for diver on the horizon
including looking at emerging carbon fibre manufacturing. Jim
points to the value of ongoing business relationships, noting
“without Vcamm’s counsel we wouldn’t have felt comfortable
taking the position we have.”
diver had capability in advanced metal stamping and fabrication,
suitable for production of components such as electrodes, as well
as subsystem assembly.
“Vcamm also saw the immediate opportunity for us to supply
metal stampings to help with their electrodes, which are a core
part of the technology, and to extend that involvement over time,”
Jim says. “we also saw that we could help microheat with
some product design and engineering support as well as part
manufacture.”
Jim says that while diver won’t be supplying microheat in
the short term there have been a number of opportunities
for collaboration and a significant shift in the diver’s business
approach as a result.
“if Vcamm didn’t understand our needs, then the relationship
with microheat technologies would not have happened,” he says.
“our engagement took us outside our normal area of business,
and has caused us to look at new opportunities that fit our
strategic objectives but still draw upon our key competencies to
develop new products and expand our business.
“the immediate follow on was that Vcamm introduced us to the
Victorian science agenda program and to a collaboration focused
on producing new technologies for bushfire protection”.
at a glance business: diver consolidated industries, reservoir, and microheat technologies, ferntree gully, Victoriaindustry: metal manufacturing and engineeringsummary: a family owned metal fabrication company diversifies with development of new technologies and venture in new sectors.Vcamm assistance: analysis of compatible technologies and investment opportunities – business matching
business profile case studycollaboration brings new growth opportunities
Vcamm limitedVcamm innovation centre
551 burwood hwy knoxfield Victoria 3180
t +61 3 9955-9000www.vcamm.com.au
correspondence to: Vcamm limited
po box 62 belmont Vic 3216
registered office: Vcamm limited
c/- geelong technology precinctpigdons rd
deakin university Vic 3217 t +61 3 5227-1101 f +61 3 5227-1103
abn 90 102 661 530
acn 102 661 530
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