Tech Park takes incubated co's new revenue heights
Tech Park takes incubated companies to new revenue heights
One third of all capital raised by New Zealand incubated business during 2005 has been generated by Tech Park companies, says Chief Executive Officer Jonathan Kirkpatrick.
The 11 incubated companies raised nearly $5m in equity capital in 2005.
Mr Kirkpatrick says Tech Park's latest three incubated companies to have achieved the government criteria for 'High Growth' status have made significant advances in the fields of medicine, building and fashion. They will be honoured at a graduation ceremony, to be attended by Prime Minister Helen Clark, this Wednesday November 29.
"It's a real privilege for both Tech Park and the entrepreneurs behind these innovative companies," says Mr Kirkpatrick.
"They walked into Tech Park with little more than a good idea and we helped them achieve it. It's the kind of teamwork that accelerates business growth."
Tech Park has produced nine high-growth companies, with another 20 successful businesses already contributing to the economy. The latest graduate companies – Pulsecor, BISCo and HGM Design - are poised to make advances in surgery, jewellery design and the building industry.
Pulsecor has developed a revolutionary medical device that provides non-invasive measurement for arterial compliance, or the stiffness of arteries. Medical professionals currently have to perform surgery on patients to obtain these measurements. Pulsecor was invented by world renowned anaesthetist Nigel Sharrock, a New Zealander based in New York. CEO William Waite says the company are developing partnerships to manufacture and distribute the product in the USA.
BISCo are developing an operating platform to improve production processes in the building industry. CEO Nick Clements says the company is trialling the scheme with an architect and builder.
HGM Design has already launched their virtual jewellery model, with a kiosk operating in Sylvia Park, Auckland. CEO John Mudford says the company uses a device to take a 3D scan of a customer's hand, allowing them to "virtually try on jewellery".
In Tech Park's other achievements, over 20 AUT University students are contributing to their degrees by working on technology building projects with start up companies, with another 20 PhD students on research teams.