With up to 20 projects, mainly involving life sciences, under way from University of Otago research, its intellectual property (IP) subsidiary, Otago Innovation Ltd, is welcoming the KiwiNet initiative for national research collaboration and the "one stop shop" for potential domestic and overseas investors.
Recent commercialisation of crown research institute projects includes listed Dunedin company Scott Technology buying a controlling interest in a Wellington superconductor company for $4.4 million.
The Kiwi Innovation Network (KiwiNet), launched in Wellington last night, wants to increase the scale and economic impact of science and technology commercialisation in New Zealand through collaboration between the universities and crown research institutes.
Otago Innovation, based at the university's Centre for Innovation on campus in Dunedin, has a stable of 15 to 20 development projects at present. Otago Innovation is responsible for all commercialisation of IP rights developed from university research.
Otago Innovation chief executive Colin Dawson welcomed the formation of the KiwiNet concept, saying it was the "logical next step" for taking the commercialising of New Zealand technology to the world.
"Being a collaboration of New Zealand sciences, we believe it will attract Government support in the future ... showcasing all that is best of New Zealand technology," Mr Dawson said.
For now, the KiwiNet model will be funded by its members, but its investment committee can allocate pre-seed accelerator funding investment from the Ministry of Science and Innovation, project by project.
KiwiNet can also apply for other funding for initiatives and will assist its members to access funds from the private sector as early as possible.
Mr Dawson said the network would provide access for both domestic and overseas investors to consider development projects.
He cited a recent Dunedin surgical-related project, SuperGel, beginning clinical trials in sinus operations, which was under development with the University of Adelaide and a Wellington surgeon.
SuperGel had attracted the attention of a major US corporation, which was now considering distribution.
About 90% of the projects under way at Otago Innovation, are in life sciences, including diagnostic developments, molecules and genetic screening technologies. Other projects also involve information technology and eduction.
Examples of the type of company KiwiNet wants to see taken from development to commercialisation include HTS-110 Ltd, a Crown research institute company in which Dunedin-based Scott Technology acquired a controlling 50.65% stake in early April.
Wellington-based HTS-110 specialises in manufacturing electromagnets using high-temperature superconductors.
Its products sell from 100,000 to $1 million each.
Scott gained its controlling stake following the exit of shareholder Endeavour Capital, a private equity and venture capital company, and a dilution of the shareholdings of Industrial Research Ltd and American Superconductor Corp, and also sales by some minority shareholders.
Endeavour Capital's chairman, Neville Jordan, said yesterday research-based organisations generated a wealth of discoveries and they had to establish networks to get close to their markets as quickly as possible.
"Collaboration and early visibility to investors who understand the potential of these research opportunities dramatically increases the chance of success for ventures.
"KiwiNet's approach will accelerate the export growth of New Zealand products and services based on science and technology," he said.
Ruth Richardson, chairwoman of KiwiNet said in a statement: "Much rests on our capacity to commercialise the ideas, schemes and dreams of our brightest and best as a small but competitive nation.
"Ambition to succeed in forging an innovative economy is one thing, but the acid is now on to lift our ability to execute that goal. We cannot be content with the status quo." KiwiNet's collaborative commercialisation model would enable members to share resources, networks, best practice, IP and experience to create more commercially viable IP and start-ups from research based ventures, she said.
At a glance
• Kiwinet founding members include - WaikatoLink, Plant and Food Research, Otago Innovation Ltd, Lincoln University, AUT Enterprises, AgResearch, University of Canterbury, Industrial Research Ltd and Viclink.
• Commercialised companies from universities or crown research institutes . . . ZyGEM, Magritek, ArcActive, eco-n, SuperGel, HTS-110, Geosense, General Cable Superconductors and Endace.
