ECTUS Launch Planned From Waikato Innovation Park
Waikato University’s Waikato Innovation Centre for electronic Education (WICeD) is due to be re-launched as Ectus and
become a major national and international player in the online learning products market.
It is proposed that Ectus will be the first new company to be launched directly from the Waikato Innovation Park in
Hamilton, officially opened today by the Minister of Economic Development Jim Anderton.
Negotiations with the Endeavour-iCAP fund over the Ectus launch are in their final stages. Endeavour-ICAP was one of the
funds created as part of the Government’s Venture Investment Fund.
Endeavour-iCAP is due to put more than $1 million into Ectus, while the university contributes WICeD’s intellectual
property. It’ll be amongst Endeavour-iCAP’s first investments.
The money will enable the joint venture to market WICeD-developed products nationally and internationally.
The CEO-designate of Ectus, Mark Topping, says the new company will be an excellent example of the university and
venture capital coming together to create a new hi-tech company for New Zealand. “It also shows that Industry New
Zealand’s investment of $2 million in the Innovation Park is already set to pay dividends soon in terms of wealth
creation for Waikato.”
Dr Topping says Ectus will build on the university’s world-leading intellectual property in the area of on-line
collaboration and the creation of online learning communities.
“WICeD’s work has helped academics move to teaching online and it has also developed a range of products and services to
support online learning. It is considered the best online learning group in the country. Waikato University offers 20
qualifications that are available entirely or mostly through online study, the greatest number of online qualifications
offered by one institution in NZ.
“Our due diligence work means we’re confident we’ll find a ready market for our products nationally and
internationally.”
Further details will be announced once negotiations between the university and Endeavour-iCAP are concluded.
ENDS