Xcelerator appointment sets stage for push into Asia

Sydney based biotech incubator Xcelerator has beefed up its board with an old Asia hand in the form of ex-Johnson & Johnson chairman Michael Yates.

"We are really pleased to be able to add Michael to our board. One of the most important things is his experience and expertise in the Asia-Pacific region, as well as his links to big companies," commented Immanuel Mensik, Xcelerator's CEO.

Yates has a particularly high profile in the region, being chairman of the last two science-based innovation summits held in Beijing and Hong Kong, and a member of the Cap Gemini Ernst & Young's 'Innovation Partnership'.

Mensik said Yates' extensive experience and network contacts would bring significant net worth to the company, and that this was of major significance as Xcelerator was now looking directly to the Asia-Pacific as an expansion venue, with projects already on the table in several locations.

It is understood Yates will work primarily on the development and commercialisation of technologies in the Asia-Pacific region, but will also offer considerable leverage in the form of alliances and contacts within the financial field.

"He is a high net worth person just in terms of his commercialisation experience and in his alliances, along with his international experience in Europe, the USA and across Asia-Pacific too," Mensik added.

"We have previously concentrated on helping with companies just in Australia, but now we are making the move into that Asia-Pacific region, and having Mick will be great for us."