IC Sydney

IC Sydney

SYDNEY SHINES

CONTENTS Page 4 Professional services Page 5 Finance Page 6 & 7 Innovation shines Page 8 ICT & digital

Page 9 Research & a smart future Page 10 Health & medical research

Page 11 Education first Page 12 Useful contacts

WELCOME TO SYDNEY – IT’S THE MEETING PLACE OF PEOPLE, OPINIONS AND IDEAS

The investment in infrastructure goes hand-in-hand with Sydney’s Global Talent Hub initiative, a unique partnership between New South Wales (NSW) State Government and the business-led Committee for Sydney. This project aims to deliver targeted, high-end information that will support delegates, businesses, institutions and individuals from all over the world who want to meet, connect, expand their business and research, or even relocate to the city. Key to the State’s broader strategy is to create a legacy from each international event that will benefit associations and delegates and, at the same time, build on the region’s economic growth and intellectual capital. “BESydney works hard to understand what’s important for event organisers. Strategy and relationships drive successful international events that deliver long-lasting legacies for all involved,” says Business Events Sydney (BESydney) CEO, Lyn Lewis-Smith. Delegates visiting Sydney are encouraged to extend their stays and engage with globally competitive businesses and

diverse NSW communities, and of course the broader Asia Pacific region on Australia’s doorstep. As Australia’s economic powerhouse, NSW has seen continuous stability and growth for more than two decades and accounts for nearly a third of the country’s GDP; significantly, its economy is now larger than many national economies in the Asia Pacific region. And as Australia’s largest city, Sydney alone represents a quarter of the nation’s economic activity. Investment, growth and innovation are flourishing in key business sectors such as financial, insurance and professional services, ICT and digital industries, and health, education and research. And the NSW Government and BESydney have partnered to successfully align future international association events in the city with these economic development priorities. “BESydney offers a unique multi-tiered approach that helps clients to connect both within Australia and globally, to create exceptional events and outcomes,” Lewis-Smith adds.

Sydney is Australia’s number one meeting and event destination. And its worldwide appeal in attracting major international association events is set to surge when Australia’s largest convention and exhibition facility opens in late 2016. The A$1.1 billion world-class International Convention Centre Sydney (ICC Sydney) is part of an extensive revitalisation of Darling Harbour to create a flagship convention, exhibition and entertainment hub on a prime waterfront location. This is just one of a host of major infrastructure projects underway designed to cement Sydney’s position as one of the world’s leading business event locations. Meet in Sydney and catch the wave of innovation, investment, optimism and new infrastructure that is driving the city forward as a global magnet for talent

Lyn Lewis-Smith CEO, Business Events Sydney

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Sparking new ideas Sydney’s entrepreneurial spirit is under the spotlight. BESydney is working closely with the NSW Government and business community to give the world’s thought- leaders, researchers and educators the chance to tap into the wealth of creativity, ingenuity and technological and research expertise in the city and region. Sydney is home to internationally-renowned universities and research institutions, and excellent links are now being fostered between the business community and Open for global business • NSW’s triple A-rated economy brings in A$54 billion in private investment each year, offering a stable and low-risk business environment • NSW’s diverse economy is larger than economies of Hong Kong, Singapore and Malaysia • More and more international companies investing, expanding and relocating to Sydney and NSW • Australia has the security of a stable

higher education. Sydney’s exceptional quality of life, its cosmopolitan and outdoor lifestyle, sparkling seafronts and vibrant culture, is consistently ranked highly in world city surveys and enhances the experience for residents and visitors alike. “Sydney quite simply shines,” says Dr Marlene Kanga, National President of Engineers Australia. “But it’s not just a beautiful city, it’s a smart city. It has tremendous intellectual capital that drives innovation, and I think this is what makes Sydney so exciting and inspiring.” • Australia rated the fourth most efficient country in the world for starting a business, according to The World Bank’s Doing Business 2014 • NSW’s top trading partners: Japan, US, China, UK, India, Malaysia, UAE, South Korea, Singapore and Indonesia • Sydney is home to people from 180 nations who speak 140 languages. Of the city’s nearly 160,000 residents, approximately 46 per cent or 56,000

were born overseas. More than 32 per cent or 38,000 residents speak a language other than English at home.

political environment and transparent legal system

• NSW infrastructure investment totals A$59.3 billion from 2014-17

Bright minds, big city: Sydney’s intellectual capital • A magnet for skilled, ambitious people from all cultures • A leading centre for business, leisure, education and culture • Strong in knowledge-based industries • Innovation and investment in key business sectors • Almost 40 per cent of the top 500 Australian corporations are based in Sydney • Global outlook, energy, ideas and optimism • A major financial centre, attracting investment capital • Well-regulated legal and banking systems, effective competition laws and efficient, transparent business environment • Competitive business sectors identified in health and education • Dynamic links between universities and business community • Innovation, technology and research attracting the world’s thought-leaders • Cosmopolitan and vibrant culture • Australia’s number one destination for business events, according to the ICCA and UIA rankings 2013.

ICC Sydney: showcase venue for world-class events

Destined to be one of the Asia Pacific’s premier business events precincts, and attracting world-class international events, the new A$1.1 billion ICC Sydney will open on Sydney’s central waterfront location of Darling Harbour as part of a mammoth regeneration project to create a vibrant cultural hub. The fully-integrated flagship venue, opening in late 2016, will offer convention facilities capable of collectively hosting more than 12,000 delegates, with the possibility of three concurrent events, and a total exhibition space of 35,000sqm, plus an external deck, bar and lounge of 5,000sqm, which boasts breathtaking waterfront views. With strong transport and accommodation links and easy connections to Australia’s largest central business district and higher education institutions, ICC Sydney will

incorporate the latest technology and flexible, multi-purpose spaces together with a striking contemporary design. Other facilities include a grand ballroom, red carpet theatre, 8,000sqm of meeting room space and an innovative fan-shaped theatre layout to bring host and audience closer. ICC Sydney is part of the extensive A$2.5 billion Darling Harbour Live urban transformation project, funded in partnership with the NSW Government. In a boost to Sydney’s global financial sector, BESydney has already secured the world-leading financial services conference Sibos 2018 (see page 5), one of 17 events confirmed so far for ICC Sydney with a combined estimated economic impact to NSW of almost A$145 million.

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Professional services: strength in knowledge

NSW boasts valuable innovative, knowledge-based industries. The State’s economy is now one of the world’s leading service economies with more than 80 per cent of industry income generated from services. With strengths in finance and business services, professional services has been the third-largest industry in NSW for 10 years. In Sydney alone, financial, professional and business services now make a bigger contribution to Australia’s GDP than mining and agriculture combined, lending the city a cutting-edge competitiveness and productivity that is luring international talent to its shores. “Building on this wealth of intellectual capital is vital to Sydney and the region. Australia is an open economy, it’s an open minded country and it provides this extraordinary opportunity to interact at an educational level and a creative level,” says Alex Malley - CEO, Certified Practising Accountants Australia. “It’s got the mindset for collaboration, it’s got the mindset for growth.” Gail Kelly, CEO of Westpac, adds:“Sydney’s position as a key financial centre in the Asia Pacific continues to grow, spurred by major government investments into key infrastructure, such as the $6 billion Barangaroo development, and the Australian industry’s commitment to retaining one of the world’s most stable banking sectors.” The NSW professional services sector in particular is internationally competitive. Exports of professional services are growing, with expert firms providing advice and outsourcing services to a range of international companies in many industries. Unlocking the potential The Fintech opportunity for Sydney is the first research report to be published by the new Financial Services Knowledge Hub, established by the Committee for Sydney with the support of the NSW Government. It provides insights into the rapidly developing market for financial services technology, Fintech, and outlines actions to maximise the opportunities for Sydney. DOWNLOAD PDF

Alex Malley - CEO, Certified Practising Accountants Australia and BESydney Brand Ambassador

Fact file

• NSW accounts for almost half of Australia’s total professional, scientific and technical services exports • NSW is home to 35 per cent of Australia’s professional, scientific and technical services industry • The global ‘big four’ accounting firms all operate in Sydney (Deloitte, PwC, Ernst & Young and KPMG Australia)

Key conferences heading to Sydney A host of international association meetings in the fields of professional and finance services has already been secured at the new showcase ICC Sydney opening in Sydney’s Darling Harbour in late 2016, including: • International Council of Commercial Arbitration Congress 2018 • International Bar Association Annual Conference 2017 • AIPPI World Intellectual Property Congress 2017 • International Association of Restructuring Insolvency Bankruptcy Professionals World Quadrennial Congress 2017 • International Conference of the Institute of Internal Auditors 2017 • Pacific Association of Quantity Surveyors Congress 2018 • Sibos 2018.

Case study

Australian Superannuation For many Australians superannuation is a dry concept; money that you can’t touch, quietly accumulating in the background during your working life. For academics at the Center for Retirement Research at Boston College, however, maximising super is their life, and a new report suggests that America looks to Australia for best practice tips. australiaunlimited.com/business/ super-savings

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Finance: going global

Finance is a Sydney success story. The city is Australia’s commercial capital, and one of the best performing financial centres in Asia. Home to 60 of the 64 banks that operate in Australia, as well as the country’s key financial regulatory bodies, it is supported by world best practice financial and legal systems and a transparent regulatory environment. Financial services have made the most significant contribution to growth in NSW, and services exports have increased strongly in the last two years. Australia has the fourth largest pool of investment fund assets in the world, a huge success that has attracted many global funds management companies to Sydney. A major boost to Sydney’s global financial sector will be the city hosting Sibos 2018, the world’s most influential and largest financial services conference. Also, an ambitious infrastructure development is underway to create a world-leading, progressive financial services district at Barangaroo.

Sydney’s finance sector at a glance • One of the best performing financial centres in Asia Pacific • Head office to many of Australia’s leading industry associations, financial institutions and insurers • Head office to the nation’s key financial regulatory bodies, such as the Reserve Bank of Australia • Home to the Australian Securities Exchange • A growing, multi-lingual financial services workforce • 90 per cent of all banks operating in Australia are based in Sydney • Top five banks in China choose Sydney for their Australian headquarters

• Strong, transparent regulatory environment • Hedge fund management is a thriving sector

• Private equity and venture capital are leading industries • Customer and technical support centres in the NSW region.

Barangaroo: a financial district for the future The A$6 billion harbourfront regeneration project at Barangaroo will enhance Sydney’s status as a global financial centre. This progressive financial precinct – the world’s first carbon-neutral, zero waste Central Business District - will uniquely integrate commercial, event spaces, residential, retail, educational, civic, cultural and entertainment. The new hub for the city’s financial services is designed to rival the headquarters of Asia and an estimated 23,000 people are destined to work there.

Sibos 2018: a major win for the city The world’s financial heavyweights will be descending on Sydney in four years’ time for the leading global financial services conference, Sibos 2018, in what is a hugely significant events win for the country’s financial sector. Sibos 2018 will be held at Sydney’s new flagship convention facility, ICC Sydney - part of an extensive regeneration project of Darling Harbour (see page 3). Sven Bossu, Head of Sibos at SWIFT, said: “Business Events Sydney was instrumental in outlining what Sibos 2018 could achieve in Sydney. The team presented a highly co-ordinated city bid involving the government, the financial industry and the local community. We are pleased to bring Sibos back to the harbour city and look forward to working with the local community to deliver another high-quality Sibos event in the region.”

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Home to many inventions that we take for granted, Sydney’s research institutions are making a real difference to our understanding of today’s world, and how we work and live in it. Innovation is the currency that will secure Australia’s future. Australians are renowned for inspired solutions with one of the highest rates of patent applications for renewable energy and biotechnology.

A land of creators: Australians have invented Cochlear’s bionic ear, Wi-Fi technology, spray-on skin and the black box flight recorder to name just a few. Google Maps was developed by Google’s Sydney team.

Bill Bowtell AO - Executive Director, Pacific Friends of the Global Fund to Fight AIDS, Tuberculosis and Malaria and BESydney Ambassador

• Australia punches well above its weight when it comes to the production of research. It has

Innova

established global pre-eminence in medical and health sciences research, with 95 per cent of work in this area at or above world standard (Department of Innovation, Industry, Science and Research, 2013).

Australian researchers produce 5.5 per cent of the world’s highly cited publications, and the country ranks as one of the top in terms of the number of publications in highly influential journals as a percentage of population.

NSW is a hotbed of Australia’s most innovative digital media companies including ABC New Media, Amnesia, Big Pond, Disney Internet Group, Hothouse, Massive and ninemsn.

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Australia has more Nobel Laureates per capita than any other country.

• In 2013, Sydney was voted overall the second most innovative city in the Asia Pacific and ranked second for its technology and innovation ecosystem.

• Sydney was ranked seventh in the world for intellectual capital and innovation ( PwC Cities of Opportunity report, 2014 ).

• NSW has the largest research sector in Australia with R&D strength in robotics, agricultural science and new generation communications. A NSW company, Open Kernel Labs, produced software that is currently used in 1.5 billion mobile phones worldwide.

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Shines

• Sydney is ranked number one globally for reputation (2013 City RepTrack). Cities with a good reputation welcome more tourists, improve their public diplomacy, increase exports and attract foreign knowledge and talent.

For the sixth year in a row, Australia ranked third in the 2014 Index of Economic Freedom index compiled by The Wall Street Journal and Washington-based think tank The Heritage Foundation.

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ICT & digital

Sydney: mapping out a future for Information and Communications Technology (ICT)

When Google invented Google Maps from its Sydney office, NSW showed it was firmly on the global ICT map. As the largest ICT industry in Australia, it’s one of the strengths of the NSW economy. And many of the global players basing their headquarters in Sydney include Microsoft, Google, IBM, Salesforce, Amazon Web Services and Oracle, Novell and Hewlett Packard. Sydney leads the way, home to nearly 40 per cent of the country’s creative and digital workforce, and more than 60 per cent of Australia’s ICT regional headquarters and operations centres. And, investment by ICT companies in NSW is bolstered by the region’s strong research and development capabilities. Scientists based in Sydney produced key Wi-Fi technology, and Australia’s ICT Research Centre of Excellence, NICTA, spin-off company Open Kernel Labs, produced software used in more than 1.5 billion mobile phones worldwide. “Sydney’s got a visionary culture and a feel to it, because it’s not tied up in a lot of old traditions, we’re able to meld different types of traditions and see how they work together and take them forward,” says Pia Winberg, CEO of Venus Shell Systems. “There’s no door that’s closed, there’s no idea that is forbidden, and so we can afford to be really creative and innovative, share those ideas here, get them knocked about with different peoples’ perspectives and come up with things that will really work in the future.”

Fast facts

Institute of Electrical and Electronics Engineers (IEEE) International Conference on Communications 2014 Sydney was host to this important global ICT conference at the Hilton Sydney in June 2014. Around 1,400 international communication technology experts, with a large contingent from North America and China, attended to brainstorm the next generation of wireless technologies, under the conference theme: ‘Communications: The Centrepoint of the Digital Economy’. In 2017, IEEE will return to Sydney for its IEEE Semiannual Vehicular Technology Conference at ICC Sydney, continuing the collaboration between international and local talent.

• NSW leads the nation in ICT research capabilities – home to NICTA, Australia’s largest organisation dedicated to ICT research • The State has five national centres of excellence in ICT-related research fields, two co-operative research centres and four R&D facilities

Digital and creative media: a hotbed of world-class leading talent When it comes to innovation in digital media, NSW stands out. With leading media companies, creative talent, world-class visual effects, post-production and motion capture studios, it’s home to almost half of Australia’s film and television businesses and industry workforce. As in other global cities, Sydney has seen a considerable convergence of the ICT, creative and entertainment industries. And Inner Sydney has the highest concentration of creative digital businesses in Australia - film, video and TV production and distribution, publishing and printing, advertising, design, arts and recorded media. South of the CBD is Sydney’s start-up precinct, aimed at showcasing new products and services to an international audience, and to world leaders that come into Sydney. Developed in conjunction with the University of Technology Sydney and other key stakeholders, the hub encourages a diverse local economy, providing purpose-built, low-cost workspaces for start-up ventures and social initiatives in creative industries.

Case studies Synnex Australia

Just 30 minutes from the centre of Sydney, the largest construction boom has been underway in Greater West Sydney since the 2000 Olympics. ICT is one of the growth sectors in Sydney with a range of technology parks. Global IT supply chain services company, Synnex Australia, is investing A$45 million in a fully-automated logistics centre in this area of the city. Rackspace US company Rackspace is the world’s largest provider of ‘managed hosting’, and also provides cloud computing and hosted email services. Rackspace chose to develop a >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12

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