Benefiting Researchers and Investors
GBS Venture Partners
Venture capital is a tough business. Who would invest in a start-up with no products, assets or profit, and a long list of unknowns? How do you justify all these risks against what may be no more than a grand idea?
GBS Venture Partners (GBS) is one of Australia's leading venture capitalists with over 400 million dollars invested across five funds. While the company doesn't shy away from early stage investment, it acknowledges the sizable risks in nurturing an inventor's idea to turn it into a viable business.
The first lesson of risk management is to stick with what you know. For GBS, that's healthcare, biotech and life science start-ups. Co-founder and managing partner Brigitte Smith says GBS looks for category-leading therapies ready for clinical trials, where the science is proven and there's a clear path to registration.
"Australia's favourable regulatory environment and world class clinicians offer a cost-effective means to establish proof of concept with innovative ideas."
"The 45% R&D tax credit looks like it will be a fantastic program for life science companies, and combined with the new IP reforms providing research exemptions and stronger patents, makes Australia an attractive destination for both domestic and international clinical research," Ms Smith says.
IP Reforms benefits
The new IP reforms raise the standard of inventiveness necessary to be granted a patent in Australia. This change will help local innovators in areas like healthcare, biotech and life science to obtain the protection they need in key overseas markets. For an investor like GBS, the reforms will provide greater confidence and lead to more informed decisions when selecting projects.
Founded in 1996, GBS is always on the lookout for the next big medical breakthrough. But great ideas are not enough. Investments must measure up to a checklist which includes significant international opportunities and comprehensive patent protection.
"We like to balance the clinical and regulatory advantages that Australia enjoys with getting products to global markets," Ms Smith says. "GBS has successfully teamed up with leading US venture firms when the opportunities warrant."
The IP reforms should allow these partnerships to flourish by increasing knowledge sharing, cross border investment and the overall level of innovation.
Last Updated: 15/9/2012
