Media releases

Westpac Unlocks Asia Capable Talent through China Australia Millennial Project

 

22 May 2015

Westpac today unveiled early insights from its sponsored Think Tank that is examining better ways for corporates in Australia and China to fast track the development of a globally talented workforce as a competitive advantage in in the Asian Century.

Sydney Town Hall will see the inaugural China Australia Millennial Project (CAMP) Summit take place from June 1 -5, where young leaders aged 18 - 35 from Australia and China will form cross cultural Think Tanks and pitch to panels of judges their creative solutions to challenges facing both countries.

Westpac's Think Tank 'Global Talent' shared its early findings around the value of fostering a diverse and inclusive workforce to manage greater interactions and two-way customer flows in an Asian Century.

According to Alice Wong, Westpac's Head of Asian Leadership, companies wishing to engage across Australia and Asia, retain a competitive edge by not only investing in the development of leaders with Asian cultural origins but also developing leaders that have spent part of their career in Asia and understand the cultural nuances.

"When you consider Australia's place in the Asia century and the facts about Asia you simply cannot ignore them - 60% of the world's population currently lives in Asia. Moreover, Asian economies are expected to account for almost 50% of global economic output by 2025," Ms Wong said.

"There has never been a more important time to foster Asia-focused leadership in our younger generation," she said.

Whilst Australia is well positioned to capitalise on the opportunities the Asian Century has to offer, The Australian Government's Asian Century White paper and the Diversity Council Australia (DCA) have identified a gap in representation of Asian talent in senior leadership positions. DCA reports that 9.6% of Australians have Asian cultural origins, versus only 1.9% of ASX 200 senior executives.¹

All CAMP Think Tanks will be pitching their ideas at the culmination of the Summit in Sydney on Friday 5 June, between 9.00 am - 2.00 pm at NSW T&I Building, 19 Martin Place. 

CAMP's objective is to help foster mutual cultural understanding as well as provide the 130 participating delegates a professional development program designed to stretch their creative problem solving and innovation skills.

CAMP CEO Andrea Myles explains we're putting the spotlight on innovation and opportunities at our inaugural CAMP Summit Opening event 'Leading Innovation in the Asian Century' and encourage the public to get involved in this incredibly stimulating and essential dialogue.

The 1 June event featuring a panel discussion with highly successful innovators and entrepreneurs will be held at City of Sydney's Town Hall from 11:00am - 12:30pm. Tickets are available at https://events.ticketbooth.com.au/event/InnovationAsianCentury/tag/media.

The CAMP Summit's Gala Dinner held at Sydney Town Hall on June 5 will showcase the best insights, projects, and young talent to emerge from the five day Summit as each Think Tank goes head-to-head. The audience will be among the very first to hear about the top ventures conceived by CAMP delegates as they pitch their co-created new ideas to a room of venture capitalists, sponsors, impact investors and the savviest amongst the business community, competing for funding to implement the most innovative plans.

For details or tickets, visit https://events.ticketbooth.com.au/event/CAMPGalaDinner/tag/media.

About Westpac and CAMP
As the Platinum partner of CAMP Westpac is proud to be sponsoring two Think Tanks, Digital Disruption and Global Talent.

Through this partnership, Westpac is supporting the next generation of leaders across the region. This aligns with the bank's own strategy in Asia to be at the forefront of transformation, connecting the flows of trade, capital and people.  

Westpac has been operating in Asia for 40 years delivering a broad range of financial services to individuals, corporate and institutional customers with branches in Singapore, Shanghai, Shanghai Free Trade Zone, Beijing, Hong Kong, Mumbai as well as a representative office in Jakarta.

About CAMP
The China Australia Millennial Project (CAMP) is a world-first project uniting top young leaders (aged 18-35) from China with Australian peers for a bilateral business incubator across a broad range of industries.

The inaugural 12 week program includes an online mentored component and an intensive 5 day face-to-face summit being staged as part of Vivid Ideas, part of Vivid Sydney, from 1 - 5 June 2015. CAMP will help foster mutual cultural understanding as well as providing delegates an exceptional professional development program designed to stretch their creative problem solving and innovation skills.

CAMP is proudly powered by Westpac, backed by the Department of Foreign Affairs and Trade, the NSW Government and being staged in collaboration with Vivid Ideas, part of Vivid Sydney. Vivid Sydney is owned and managed by Destination NSW, the NSW Government's tourism and major events agency. CAMP was launched in Shanghai in September 2014 by The Hon Mike Baird, Premier of NSW. The event has strong engagement with industry and not-for-profits across Australia and China for thought leadership and sponsorship.

¹ DCA, "Cracking the Cultural Ceiling, Future Proofing Your Business in the Asian Century" Sydney DCA  2014 http://www.dca.org.au/dca-research.html