He also emphasised the importance of the personnel, with Dr Yuxing Zhao from Australia joining the executive management team of Fasten Photonics. This opportunity developed by the CRC provides a way in which Australia will directly benefit from its investment in research and education. The venture will create long term linkages between Australia and China at many levels, in research, education and commercial spheres. Professor Sceats pointed out that Redfern Photonics is owned by the CRC consortium of 23 companies and five universities. Just to keep market share, Australia would have to create over 18,000 new jobs in the next 10 years, and this would require a strong partnership between industry, universities and government.
Joint ventures are an important approach to access global markets.