Return On Science welcomes 3 year funding from MBIE

Return On Science welcomes 3 year funding from MBIE

AUCKLAND, NZ – 28 May 2015 – The Ministry for Business, Innovation and Employment has confirmed a further three years of funding to support the Return On Science national commercialisation programme.

As a result, the research and development community can expect faster commercialisation which lowers investment risk and increases returns on their innovations.

The funding provides support to enable Auckland UniServices to continue to provide open access to world-leading commercialisation expertise within the Return On Science programme to New Zealand government-funded research organisations such as the universities, Crown Research Institutes, District Health Boards, private research institutes, and research-based government agencies like the Defence Technology Agency.

Auckland UniServices Chief Executive Dr Andy Shenk says “We are very pleased to continue to be a valued partner for MBIE in the innovation and commercialisation system. Return On Science is based on Auckland UniServices’ award-winning commercialisation programme, developed over 25 years of producing significant economic returns from investment in research, and is part of the MBIE Commercialisation Partner Network along with KiwiNet and CDC Innovation.”

The Return On Science programme assists research and innovation providers with a set of proven world-class commercialisation services including connecting science and technology with strategic management, top-tier advice and guidance, world-leading best practice process, entrepreneurs and efficient access to capital.

Return On Science Programme and Commercialisation Director Graham Scown says “We are delighted that MBIE has recognised, and continued to support, the programme as it goes from strength to strength delivering nationally significant outcomes. The highly collaborative nature of the programme demonstrates that New Zealand Intellectual Property (IP) owners have a will to work together to leverage the exceptional science, commercialisation, and investment expertise in New Zealand. By working together we are delivering world-beating technologies to global markets in a very efficient and effective way.”

At its core Return On Science operates four specialist investment committees covering Biotechnology and Lifesciences, Information and Communications Technology, Physical Sciences, and Agritechnology and Agbiotechnology. Interested inventors, investors, and potential partners are routinely invited to observe the relevant investment committee simply by committing to a non-disclosure agreement.

“Return On Science is one of the programs that works, and it is good to see MBIE’s analysis is showing the results, and that they are recommitting. The Committees are formed from people across New Zealand and the globe, and the investors and scientists we help are from across New Zealand,” says ICT Investment Committee chair Lance Wiggs.

“Many of the committee members are active private or fund investors – so they understand what makes a great opportunity and make careful, knowledgeable and rigorous investment decisions. The diverse group of investors and industry specialists who are Committee members are learning from each other, building respect for each other and working with each other. The investment community is much stronger as a result,” he adds.

www.returnonscience.co.nz

ENDS

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